This is the most expensive neighbourhood to buy a home in Malaga... and it's not where you might think

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Madrid, Barcelona, the capital of the Costa del Sol and Palma are the cities with the 25 most sought-after districts in Spain, according to online property portal Pisos.com

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Malaga

Wednesday, 24 December 2025, 09:50

Of the 25 most expensive districts to buy a home in Spain, 16 are in Madrid, three in Barcelona, three in Malaga and three in Palma. Moreover, of the three in the Costa del Sol capital, the most sought-after is not in the eastern part of the city, as many might imagine, but at the other end of the urban coastline: La Térmica-Sacaba Beach. Here, several luxury apartment buildings are being developed that are fetching astronomical prices, making this area the one with the highest price per square metre in the city at the moment: 10,020 euros. Therefore, a 90-square-metre apartment in this area costs an average of 900,000 euros. This is according to a report compiled by real estate portal pisos.com, using November data from the 12 largest provincial capitals of Spain.

The study reveals extraordinary differences in the Spanish housing market when analysed by specific districts. The top three most sought-after districts in Spain are all historically prestigious locations in Madrid. Recoletos leads the ranking at 15,451 euros per square metre, followed by Castellana at 13,169 euros and Jerónimos at 12,971 euros. Next is Sant Nicolau in Palma at 11,846 euros per square metre, followed by Lista and Goya, both in Madrid, with prices around 11,493 euros.

The top 10 is completed by Justicia-Chueca, Almagro and Ibiza in Madrid, plus Diagonal Mar-El Front Marítim del Poblenou in Barcelona at 10,477 euros per square metre.

The list continues with Trafalgar in Madrid (10,325 euros per square metre), La Térmica-Sacaba Beach in Malaga (10,020), Pedralbes in Barcelona (9,744), El Viso in Madrid (9,619), Nueva España in Madrid (9,363), Concepción in Madrid (9,312), La Malagueta-Monte Sancha in Malaga (9,178), Arapiles in Madrid (9,088) and Río Rosas in Madrid (9,063 euros per square metre). Son Vida in Palma is now at 8,972 euros per square metre, while Sol in Madrid stands at 8,806 euros. Closing the top 25 are La Calatrava in Palma (8,702), Universidad-Malasaña in Madrid (8,693), La Dreta de l'Eixample in Barcelona (8,691) and Bellavista-El Morlaco in Malaga (8,675).

"Madrid has 16 of the 25 most expensive districts in the country, highlighting the extraordinary concentration of value in certain areas of the state capital. "We're not just talking about centrally-located districts, but areas where factors such as historical prestige, cultural offerings, green spaces and intense economic activity converge," explains Ferran Font, research director at pisos.com.

Four provincial capitals clearly dominate the ranking. Madrid leads with an average price of 7,303 euros per square metre, equivalent to 657,310 euros for a 90-square metre property. Palma follows with an average of 6,012 euros per square metre (541,066 euros for a typical apartment), followed by Barcelona with an average price per square metre of 5,512 euros (496,063 euros for those 90 square metres). Bringing up the rear on this list is Malaga with an average of 4,664 euros per square metre (419,776 euros on average for such a home).

Differences between districts

When comparing the average price of each provincial capital with that of its most sought-after 'barrio', the differences are particularly striking. Malaga shows the most pronounced percentage gap with an increase of 115%: from an average of 4,664 euros per square metre to 10,020 euros in La Térmica-Sacaba Beach. Madrid follows with a 112% difference between its average square metre price of 7,303 euros and the 15,451 euros for a place in Recoletos. Palma registers a 97% difference compared to Sant Nicolau (11,846 euros), while Barcelona shows a 90% increase for properties in Diagonal Mar (10,477 euros per square metre).

"The percentage differences between the average price across the capital and its most expensive district are especially pronounced in Madrid and Malaga, cities where certain districts have become veritable luxury locations with prices that are double or triple the municipal average," states Font.

Toledo shows a gap of 87% between the city's average square metre price (1,871 euros) and the 3,500 euros needed to buy in La Antequeruela-Las Covachuelas. In Bilbao, the price difference reaches 72% when comparing its average to the 7,207 euros needed for living in Abandoibarra-Guggenheim, while Seville shows an increase of 71% from the average compared to the 4,618 euros needed in Heliópolis. Murcia shows a 58% difference, from a square metre average of 1,920 euros to 3,034 euros in San Nicolás, and Santa Cruz de Tenerife completes the list with a 55% price difference in Rambla-Duggi-Los Hoteles, where the price rises to 4,235 euros per square metre.

At the opposite end of the spectrum, Valencia recorded only a 22% increase (from an average square metre price of 3,576 euros to 4,354 euros in La Carrasca). Then, Granada with a 15% increase (from 2,792 euros to 3,220 euros in Lancha del Genil). Alicante presents the most unique case: its most expensive district, El Palmeral at 2,692 euros per square metre, is actually 9% below the average price of 2,962 euros. "In cities such as Valencia, Granada and Alicante, the price dispersion between districts is much lower, indicating a more homogeneous market structure compared to major capitals where polarisation is extreme," notes Font.

The most affordable cities

The analysis by pisos.com reveals that Murcia is the provincial capital with the highest concentration of districts offering affordable housing. "Of the 25 most affordable districts in Spain, 16 are located in the capital of Murcia, demonstrating a market reality radically different from that of cities such as Madrid or Barcelona and representing a real alternative for those seeking access to housing at reasonable prices," states the pisos.com research director.

Javalí Nuevo, in Murcia, is the most affordable location at just 604 euros per square metre (54,395 euros for a 90-square-metre property). It is followed by La Raya in Murcia (620 euros), Virgen del Carmen in Alicante (651 euros), El Palmar in Valencia (742 euros) and Sangonera la Seca in Murcia (753 euros).

Other districts of Murcia in the ranking of the most economical include Puebla de Soto (786 euros per square metre), Zeneta (813), Lobosillo (857), Nonduermas (865), Rincón de Seca (888), La Paz (891), Alquerías (899), Llano de Brujas (907), San José de la Vega (910), Valladolises and Lo Jurado (both at 914 euros per square metre), Casillas (915), Aljucer (918), El Palmar (924) and Beniaján (944). Completing the top 25 most-affordable districts are Palmete and Torreblanca in Seville, Juan XXIII and Colonia Requena in Alicante and Rincón de Beniscornia in Murcia, all below 1,030 euros per square metre.