Luxury promotions in Spain

We can talk about different luxury promotions such as Lagasca 99, Canalejas, Montalbán 11, General Castaños …

 

The four named above have been very popular in recent years and have been on the lips of many high-end real estate stories in Spain. These promotions have several characteristics that are the same: privileged locations, the best qualities, spectacular penthouses and prices that leave you without air. However, if we have to opt for the most expensive, that is, the one with the highest square meter, what is really the most expensive promotion currently for sale? What is the one with the  high square meter Price?

 

There are clearly villas in La Moraleja, La Finca, Marbella or Sotogrande, with sale prices far higher than even the incredible penthouses of any of these projects, basically because they are large properties. But if we take into account where the most expensive square meter is paid, we have to opt for one that occupies the first place, by far. We are talking about Villa de París, in front of the Supreme Court, on Calle General Castaños.

 

This development, named Villa de Paris, is located next to the Supreme Court in Madrid and the average price per square meter, according to DAO is 18,000 euros, although one of the two 600-meter penthouses was purchased by Amancio Ortega for 20,000 euros per square meter.   We don´t place another of the most luxurious promotions in Madrid or Barcelona. This can be found in San Sebastián and is one of the most expensive luxury developments that we can find in all of Spain if we also take into account the average price per square meter of their homes.

This development is known as Residencial Villa Almudena. It is a cooperative project consisting of six super luxury homes in front of La Concha beach. In addition, according to the data collected by the DAO algorithm of the real estate auctions and private online sales portal Addmeet, the average sale price stands at 22,000 euros, above the 18,000-19,000 euros that were initially handled. The cooperative member of the project is Grupo Arrasate. We can say that the price of this promotion is ahead of the prices that are handled in General Castaños, of Mabel Real Estate, of which we have spoken previously.

Another new construction promotion that we cannot forget to name is in the Salamanca neighborhood, Lagasca 99. It occupies the last place in the ‘ranking’ with an average of 11,000 euros per square meter. However, three years ago, one of its 800-meter penthouses was sold for € 13 million, or approximately € 16,000 per square meter.

 

Ranking of the most expensive luxury promotions in Spain

Data collected by the DAO algorithm from the Addmeet real estate auction portal.

 

San Sebastián first, then Madrid and thirdly Barcelona. Barcelona gets third place in this ‘ranking’ with a very classic promotion of super luxury. It is known as Francesc Macià 10, a building where the offices of the insurance company Winterthur were in the Catalan capital and which consists of seven 600-square-meter homes and an attic. The average price of the square meter stands at 16,500 euros and has had, for its rehabilitation, the stamp of the architect Marcio Kogan. The building, owned by the venture capital firm, Squircle Capital – its first residential investment in Spain – began marketing its homes almost two years ago and of its eight units, four have already been sold to Spanish entrepreneurs, three of them Catalans.

 

 

The fifth place in the ranking is followed by Montalbán 11, also in Madrid, a project by Venezuelans Italinmuebles with a price of approximately 15,000 euros per square meter, exactly the same as in Paseo de Gracia 30, by the Catalans Twin Peaks Capital.

 

We can find the Montalbán development right in front of the El Retiro park and it has been an incredible rehabilitation to put ten exclusive homes for sale in the luxury market. It is currently sold at 95%, since there is one triplex that initially went on sale at 13.9 million euros, and right now they are asking for its 750 meters plus 220 terraces, 14.6 million. All the homes are sold except this triplex penthouse. It has been on the market for almost two years and, as it happens, for example, with another penthouse in General Castaños, it is finding it difficult to find a buyer not only due to the high price of the square meter, but for the final sale price.

 

We can say that the market is currently a bit off. Although they are usually the foreign public that is done with this type of housing. For example, the Venezuelan who prefers the Salamanca neighborhood area anyway, while the Mexican public is gradually entering the market.

 

For more information on this subject, do not hesitate to contact us at iluxenio@iluxenio.com.

 

iLuxenio, discover the house of your dreams and build it with us.

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