Javea in the top 5 highest average house prices

Idealista's latest ranking of the 100 most expensive municipalities to buy and rent a home confirms that the highest average prices in Spain are concentrated in tourist resorts on the Mediterranean coast and the Balearic Islands, headed by Benahavís, Calvià, and Marbella, all three above one million euros, and with rents exceeding 2,800 euros/month, along with Ibiza.

Demand during the last quarter in the real estate marketplace in southern Europe, however, once again focused interest in buying homes in Madrid and its periphery, as well as other large cities such as Zaragoza, Seville, and the two Canary Island capitals, while in terms of rentals, coastal towns and cities such as Hospitalet de Llobregat and Vitoria are gaining in importance.

Data from the last quarter confirm that house prices have increased by an average of 3.3% year-on-year up to June, while rents have risen slightly more between April and June, by an average of 4.8%. Meanwhile, the gross profitability of buying a home to put it on the rental market has risen slightly during the second quarter to 7.2%, up one-tenth of a percentage point compared to the same period in 2021.

Now, idealista/data's analysis of the housing market ranks the 100 most expensive municipalities by sale prices and rental income, and the most sought-after locations according to relative demand, provided that they comply with a wide range of advertisements on idealista (around 1,500 between sale and rental) during the quarter analysed.

Mediterranean and Balearic Islands concentrate the highest house prices

The Malaga town of Benahavís, with some of the most exclusive urbanisations in Spain such as La Zagaleta, once again leads the ranking with the most expensive average prices, on this occasion exceeding 1.8 million euros. It is joined in this select club of homes at one million euros by its neighbour Marbella (1.1 million), followed by the Balearic municipality of Calvià, with 1.4 million, which is not far behind in terms of high-end locations.

Behind them, and completing the top 10 areas with the most expensive average house prices, all over half a million euros, are the towns along the Mediterranean coast, from Sotogrande (865,000 euros), in Cadiz, to Casteldefells (638,990 euros) or Sitges (681,000), both in Barcelona, passing through Jávea (721,000 euros) and Altea (605,000 euros), both in Alicante. Eivissa (681,000 euros) and Llucmajor (570,600 euros), both in the Balearic Islands, complete the most expensive locations.

Behind them, Palma is placed as the first provincial capital with the highest average price in 11th place, with its 527,139 euros, ahead of other capitals such as San Sebastian (522,445 euros), in 13th place; Madrid (413,111 euros), which occupies 17th place, or Barcelona (349,00 euros), in 21st place.

The first town outside the Mediterranean arc, including the Balearic Islands, is the Biscayan town of Getxo (524,445 euros), in 12th place, ahead of other areas such as the tourist areas in the Canary Islands of Adeje (465,000 euros), on the island of Tenerife (15th), or San Bartolomé de Tirajana (347,665 euros), in Gran Canaria (22nd), in addition to the capitals already mentioned above.

Up to 11 new towns have entered the ranking in the second quarter, with Vilanova i la Geltrú (266,000 euros) standing out among them, directly in 32nd place. There are no major changes in the top positions, while Guardamar del Segura (178,500 euros) has recovered places to reach 67th position in the ranking.