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A Data-Driven Look at Andalucía’s Most Expensive Neighborhoods

Differences in the National market trends

After analyzing recent data from the Fotocasa real estate portal, it is evident that Malaga province dominates the list of the most expensive neighborhoods in Andalucía. In fact, all of the top ten priciest areas are concentrated within Malaga, highlighting its appeal to affluent buyers. Expanding the scope to the top 20, Malaga remains far ahead of the competition, with only a single contender from outside the province: Punta de la Mona in Almuñécar, Granada.

The report’s comparison of neighborhoods across Spain places Guadalmansa in Estepona at the top of the Andalusian ranking, with properties averaging 7,876 euros per square meter. Other high-end locales include El Higuerón in Fuengirola (7,048 euros) and Nueva Alcántara in Marbella (just under 7,000 euros). Notably, Marbella contributes to multiple luxury areas, including Puerto Banús, Lomas de Marbella, and Playa Bajadilla. Meanwhile, Malaga city itself hosts premium neighborhoods such as La Malagueta, Torre del Río, and Pacífico, while La Quinta in Benahavís rounds out the top ten.

It is worth noting that even when extending the ranking beyond the top ten, Malaga province remains the dominant force. Additional noteworthy areas include Benalmádena’s Puerta Marina and La Capellanía, Malaga city’s historic center, and several sought-after Marbella districts like Nagüeles Alto, Los Naranjos, and Bahía de Marbella, all commanding prices above 5,000 euros per square meter.

Price Growth:

Furthermore, Malaga also leads in price growth. According to the Fotocasa report, Elviria and Cabopino-Artola, both in Marbella, have experienced staggering price increases of 79% and 45%, respectively. Estepona’s El Paraíso, Bel-Air, and Zona Calvario have also seen notable price surges, ranging from 30% to 40%.

Stepping back to view the national picture, Andalucía does not feature prominently among Spain’s most expensive neighborhoods. The ten costliest areas are instead found in Madrid, San Sebastián, and Ibiza’s Santa Eulària des Riu. Madrid dominates, claiming the top seven spots with Recoletos, Castellana, and Jerónimos all-surpassing 10,000 euros per square meter. Meanwhile, Santa Eulària des Riu in Ibiza nearly reaches 9,500 euros per square meter, with San Sebastián’s Área Romántica and Madrid’s Trafalgar also making the list. 

Andalucía barely makes an appearance in the national ranking, with Guadalmansa in Estepona scraping in at 20th place. Other notable entries in the Spanish ranking include Madrid’s Chueca, Sol, El Viso, and Nuevos Ministerios; Barcelona’s Diagonal Mar; Sitges’ El Vinyet; and Finestrelles in Esplugues de Llobregat.

Fotocasa’s research director, María Matos, highlights the convergence of economic activity, high quality of life, and tourism as key factors driving up property prices in these elite neighborhoods. The demand from wealthy buyers has consistently inflated prices, often reaching levels four times the national average of just under 2,400 euros per square meter. Some of Spain’s priciest properties now fetch around one million euros.

TL;DR

• Malaga dominates Andalucía’s luxury property market, claiming all of the top ten spots.
• Only one non-Malaga neighborhood (Punta de la Mona, Granada) makes the top 20 in Andalucía.
• Marbella’s Elviria and Cabopino-Artola see major price surges (79% and 45%, respectively).
• Nationally, Madrid, San Sebastián, and Ibiza lead in property prices, with Madrid home to seven of the top ten most expensive neighborhoods.
• Andalucía barely makes a dent in Spain’s priciest areas, with only Estepona’s Guadalmansa ranking 20th.
• Spain’s luxury real estate market sees prices up to four times the national average, with prime locations exceeding 10,000 euros per square meter.