In the current Spanish property landscape, where housing costs have been on a steady uptrend, the luxury real estate market has been a surprising outlier, registering continued growth. Within this upscale sector, the Canary Islands hold a unique place of prominence. According to comprehensive analyses conducted by Idealista, a leading real estate platform in Spain, Kurt Konrad Mayer Avenue in the municipality of Adeje, Tenerife, has gained recognition as the Canary Islands’ most exclusive street for property investment. The average property valuation on this esteemed avenue stands at a staggering €1,739,162.
While the Canary Islands make a remarkable showing, other regions in Spain are not to be overlooked. Marbella, situated in Malaga, boasts two prestigious streets—Calle Mozart and Calle Osa Menor. These streets are highly ranked in terms of property value, with average home prices listed at €7,940,375 and €7,175,888 respectively. Moving beyond Malaga, Camino de la Fuente, located in the affluent La Moraleja urbanisation of Alcobendas, Madrid, has made its mark with a notable average home value of €6,928,958.
Beyond these leading locations, Spain also has an assortment of other high-end streets worthy of mention. In Madrid’s Pozuelo de Alarcón, the Paseo de los Lagos in the La Finca urbanisation offers homes with an average valuation of €6,172,508. This is closely followed by Los Flamingos Golf urbanisation in Benahavís, Malaga, where properties fetch around €5,760,145. Completing the list are select streets in Calvià, Mallorca and Marbella, each offering homes valued between €5 and €6 million.
Nationally, the Coto Zagaleta Urbanisation in Benahavis, Malaga, stands out as the pinnacle of luxury, with an astonishing average property value of €10,763,937. This serves as a testament to the unflagging appeal of luxury real estate in the country.
The most expensive in Spain and the Canary Islands
When we take a closer look at Spain’s autonomous communities, a fascinating pattern emerges: five of these regions boast streets where average home prices comfortably exceed the €1 million threshold. Catalonia is the leader in this regard, with an average home value of €2,670,689, followed closely by the Valencian Community at €2,637,333. The Canary Islands take third place with €1,730,162, followed by Cantabria and the Basque Country.
Contrastingly, if affordability is the primary concern, Extremadura emerges as the most cost-effective region, with the most expensive street still only averaging €282,300. It’s followed by Castilla-La Mancha and Navarra, offering homes at €296,962 and €390,116 respectively on their priciest streets.
This data effectively highlights the enduring allure of Spain’s luxury property market, even against a backdrop of rising housing costs. It accentuates not just the sustained investor interest in these high-value areas, but also the vast disparities in property values across the country.