Luxury Spain real estate is in the spotlight today
An increasing number of buyers of Spanish properties in their searches prefer luxury property for sale in Spain. After all, elite housing is not only very comfortable, but also prestigious. This contributes to the growth of demand for this type of property, the activation of the market, and the development of construction of premium class apartments and houses in new regions.
Spain itself is a highly developed European country with a unique climate and luxurious nature, where vacation or residence has become a goal for citizens of many countries around the world. The diversity of landscapes, landscaped coastlines, beautiful cities, rich historical and cultural heritage, combined with the friendliness of local residents, attract the attention of active people, families with children and those who have retired or are planning to retire. After all, over 300 sunny days a year and the surrounding beauty create an atmosphere of peace and happiness, giving a feeling of joy.
If you choose luxury property Spain, your quality of life will significantly increase thanks to upscale living conditions. An analysis of the Spanish real estate market indicates the following trends regarding the volume of sales of luxury Spain real estate:
- the market of luxury real estate Spain, is constantly growing, foreign investment being not the last factor;
- in large cities, buyers give preference to properties located outside the centers in green areas, where deluxe housing with large areas and modern amenities is sold;
- sales of individual luxury homes in Spain are increasing;
- the demand for exclusive villas and apartments has increased significantly;
- a strong interest from foreign investors in luxury property for sale in Spain, located on the coasts of the Canary and Balearic Islands.
The best regions to buy luxury homes in Spain
Experts conducted a detailed study of the market for luxury homes for sale in Spain and came to the following conclusions:
- in 2023, the number of transactions with luxury housing increased by 55%;
- the most expensive real estate is in the Balearic Islands, where the average price per 1 sq.m. can exceed €9,000;
- the best places to buy luxury real estate Spain, are the Balearic Islands, Madrid, Barcelona, Malaga, Marbella, the resorts of the Valencian community of Altea, Javea, Moraira;
- 70% of luxury houses for sale in Spain are villas, 30% are other types of real estate;
- along with traditional buyers of luxury housing from Germany, Great Britain, Sweden and Switzerland, luxury homes for sale in Spain are increasingly being purchased by citizens of the USA, Canada, Mexico and Venezuela.
The beauty and comfort of luxury property for sale in Spain
If your expectations for the property you are looking for are high and you have sufficient financial resources or are planning to take out a mortgage loan to achieve your goal, opt for a villa with a private pool located on one of the mainland coasts or in the Balearic or Canary Islands.
You will be offered luxury houses for sale in Spain of large areas on several levels with different numbers of bedrooms, bathrooms, utility rooms, balconies and terraces.
The plots on which such luxury homes in Spain are located also have a large area and at your disposal will be a garage and parking, a garden and flower beds, an area for relaxation and receiving guests, children's and sports grounds, etc. The villas' balconies and terraces offer panoramic views of the sea, mountains and cityscapes. Your life will be comfortable thanks to a variety of modern amenities, and privacy and relaxation are ensured by the peace and quiet of the large areas where such residential buildings are located.
Other types of luxury Spain real estate are:
- Penthouses are apartments located on the upper floors of modern residential complexes. A penthouse can be on two levels, with living rooms, dining rooms, and bathrooms on the first level, and bedrooms and bathrooms on the second;
- bungalows and chalets are separate houses with a wide range of modern amenities and landscaped land.
Today, leading real estate agencies offer for sale, for example, the following luxury Spain real estate:
| Property type and location | Description | Price, € |
| Duplex penthouse on the 4th-5th floors of a residential complex (Mallorca, Balearic Islands) | Area – 470 sq.m. 3 bedrooms, 3 bathrooms Terrace with panoramic view General amenities – elevator, swimming pool, garden, parking |
2,395,000 |
| Villa in Marbella (Malaga) |
Villa area – 578 sq.m.
|
3,950,000 |
| Villa in the residential complex La Moraleja (10 km from the center of Madrid) | Villa area – 1267 sq.m. Plot area – 2600 sq.m. 6 bedrooms, 6 bathrooms Energy Saving Technologies Swimming pool, garden, large relaxation area |
7,250,000 |
Luxury houses for sale in Spain: buying process
Whether you are looking for a secluded villa on one of the coasts or a spacious penthouse in a big city, you can find a wide selection of luxury Spain real estate to choose from. Before starting the process of purchasing real estate, the prime task is to study all stages of the purchase procedure. Regardless of whether you are a Spanish citizen or a foreigner, you have the right to purchase any type of housing. Spain encourages both residents and non-residents to invest in real estate.
The main requirement for foreign citizens is to obtain a NIE identification number, which gives the right to carry out various types of transactions in Spain, as well as opening an account in a Spanish bank. To ensure the protection of your investments and receive help in resolving legal issues, it is worth hiring an experienced lawyer.
The next step is choosing a property. If you have made your decision and are interested in luxury homes for sale in Spain, then information about them can be found on special websites or received directly on the spot from professional real estate agents. Personal inspection of properties is a guarantee of the right choice, since you mitigate possible risks.
Having settled on a specific option, you need to enter into a preliminary agreement with the owner to book the property, pay a deposit amounting to about 10% of the sale price and begin a thorough inspection of the property to identify outstanding debts and other potential problems.
Completion of the purchase consists of signing a purchase and sale agreement at a notary’s office, paying the remaining amount for the property, and transferring ownership. When purchasing luxury homes in Spain, the prices of which are quite high, buyers should consider obtaining a mortgage loan from a Spanish bank. Financing the purchase can be done either in cash or by bank transfer. Please note that additional costs such as taxes, fees, commissions may amount to 10-15% of the purchase price.
When purchasing luxury real estate, you need to carefully study the costs associated with its ownership:
| Cost item | Amount, € |
| Public utilities | from 285 |
| Utility fees for the use of common amenities of the residential complex | 260-430 per month |
| Other services (such as garbage collection) | Through council tax |
| Home insurance | 280-480 per year |
| Payment for manager services for organizing payments | 100-200 per year |
Having thoroughly studied the process of purchasing luxury property Spain, it may seem that making a purchase on your own will be difficult, especially if you do not speak sufficient Spanish. In this case, you should be advised to contact an experienced participant in the Spanish real estate market - the WTG Spain group of companies. With their help, your purchase will take place in the optimal time frame, and you will soon become the owner of a luxury apartment or house.
