Formentera is the most exclusive municipality in Spain | Fortune

Formentera is the most exclusive municipality in Spain, at least when it comes to acquiring a home that you own. This is what the report prepared by the Idealista real estate portal reveals with the populations with the most expensive square meters in the country when buying a property. The Balearic island is in the lead, since the owners ask, on average, 7,643 euros per square meter.

The Balearic Islands is positioned as the most exclusive community, since the first four municipalities in the report are located in this region, although at a considerable distance from the first. Thus, Deya, with an average of 5,909 euros per square meter, Sant Joan de Labritja, with 5,165 euros per square meter, and Eivissa, 4,910 euros per square meter, complete the upper part of the table. San Sebastián (Guipúzcoa), with an average price of 4,818 euros per square meter, closes the podium of the five most exclusive cities.

The sixth position is occupied by Baqueira (Lleida), with an average price per square meter of 4,793 euros. Sant Josep de Sa Talaia (4,792 euros / m2), Andratx (4,649 euros / m2), all three in the Balearic Islands, and Zarautz, in Guipúzcoa (4,493 euros / m2), complete the top10. Barcelona is the first major city to appear in the report and does not do so until the 12th position, while Madrid occupies the 15th position.

The situation is the opposite, however, in the rental market within the luxury segment, as Barnes places it as the second most interesting city in the world for real estate investment. The average rental price within the luxury segment in the capital is set at around 3,000 euros per month for a 150-square-meter flat and 7,000 euros per month for a 350-square-meter chalet. On average, the price per square meter in Madrid ranges between 20 and 30 euros per month depending on the characteristics of the home, its location or the state of conservation.

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By communities

The Balearic Islands is also the community with the most municipalities among the 25 most expensive in Spain, according to the study carried out by Idealista. A total of 12 of the towns that appear in the ranking are located on the islands, almost half of the list. They are followed by Catalonia, with seven locations, and the Basque Country, with three. For its part, in Madrid province, only the capital manages to sneak into the top of the list with the most prohibitive.

The study is completed with the most exclusive localities in each of the 17 Spanish autonomous communities. Here, beyond the regions that already appear in the classification as those that require a larger outlay, there are two autonomies that have markets in which the average exceeds 3,000 euros per square meter: this is the case of Benahavís (Malaga), in Andalusia, with 3,102 euros per square meter, and San Bartolomé de Tirajana (Las Palmas) in the Canary Islands, where the average price is around 3,097 euros per square meter. Above two thousand euros are Formigal (Huesca) in Aragón, with 2,948 euros / m2, Moraira (Alicante) in the Valencian Community, with 2,768 euros / m2, Pamplona in Navarra, with 2,228 euros / m2, and A Coruña in Galicia (2,173 euros / m2).

On the opposite side of the table, Extremadura is the most economical region. Its most expensive municipality, Badajoz, has an average price of 1,148 euros per square meter. It is followed by Toledo in Castilla-La Mancha with an average of 1,357 euros per square meter, and Logroño (La Rioja), where the price is around 1,559 euros / m2. A short distance away is Murcia, whose municipality with a higher value is La Manga del Mar Menor (1,569 euros / m2), Asturias with Gijón (1,637 euros / m2), Castilla y León with Salamanca (1,639 euros / m2) and Cantabria with quotes (1,997 euros / m2).

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