Spain has more than 43,000 homes priced above €1 million advertised at one portal, but the vast majority are concentrated in just a handful of provinces.
Luxury homes clustered in a few coastal hotspots
According to property portal Idealista’s latest figures (as of 1 August 2025), 84% of all homes for sale at over €1 million are found in just six provinces: the Balearic Islands, Málaga, Madrid, Alicante, Barcelona, and Girona. That leaves the other 44 provinces sharing the remaining 16% between them – and in many cases, their share is statistically negligible.
The Balearics lead the way with 23% of the national total, closely followed by Málaga (20%). Madrid takes third place with 14%, while Alicante and Barcelona each claim 11%, and Girona 6%. The next tier is headed by Santa Cruz de Tenerife with 3%, then Cádiz and Valencia at 2% each.
Where €1 million homes are rare
At the other end of the spectrum, Zamora has no homes for sale above €1 million at all. Palencia and Soria have just two each, and Cuenca has three. Provinces like Salamanca (7), Badajoz, Burgos, and León (11 each) barely register in national terms.
The even smaller world of ultra-luxury
When the bar is raised to €3 million, the market narrows dramatically to 8,725 homes nationwide – and the concentration becomes even more extreme. Two provinces alone – the Balearics (3,005 listings, 34%) and Málaga (2,721, 31%) – account for almost two-thirds of all ultra-luxury listings. Madrid is a distant third with 12%, followed by Barcelona (6%), Alicante (5%), Girona (3%), and Santa Cruz de Tenerife (3%). In nine provinces, there are no homes for sale above €3 million.
What this says about Spain’s top-end market
The data reinforces a familiar pattern: Spain’s luxury and ultra-luxury property markets are overwhelmingly coastal (or island-based), with only Madrid standing out as a major inland hub. These concentrations reflect a mix of international buyer demand, prime location scarcity, and established prestige – and explain why certain markets weather downturns better than others.
For buyers, the message is simple: if you’re shopping in the €1 million-plus bracket, expect the richest pickings in the Balearics, Costa del Sol, and a few select urban centres. Everywhere else, such homes are either rare finds – or non-existent.
