A MALAGA province town has Spain’s highest average property prices coupled with high demand, according to a survey by the Idealista property portal.
Examining figures from the last quarter of 2023, Benhavis at the heart of the Costa del Sol had the highest prices reaching €2.21 million.
It is followed by Calvia on Mallorca (€1.67 million); Marbella(€1.49 million) and Sotogrande in Cadiz province(€1.14 million).
Below the €1 million mark but still above €500,000 are two areas on the northern Costa Blanca.
They are Altea (€965,000) and Javea (€833,300), while two Barcelona province towns of Sitges come in at €705,000 and Castelldefels with €613,100.
The list of places with an average above €500,000 continues with Llucmajor on Mallorca(€688,600) and Estepona in Malaga province with €608,600.
Others going past the half-a-million threshold included Calpe, Finestrat and Alfaz del Pi in Alicante province; Las Rozas de Madrid; and Castell-Platja a’Aro in Girona province.
The first provincial capital with the highest prices is Palma(€617,500) followed by San Sebastian in the north of Spain on €564,300.
To work out the cost and demand ratios, Idealista took the average price of housing in towns with more than 1,300 listings which had prices of more than €1,100 per m2 for sale, along with over 155 rental listings during the period between October and December 2023.
Demand was worked out based on the number of online leads received by the portal factoring in the number of leads (email contacts, counteroffers and saved to favourites) received per ad.
That therefore indicates the demand for housing by users with the number of properties being listed on the portal, which acts as a barometer for whether the market is heating or cooling across different parts of Spain.