Idealista.com has revealed that the island of Formentera is the most expensive place in Spain to buy a property
What is the most expensive place in Spain to buy a property. Madrid? Barcelona? Bilbao? Well, none of them. Expensive real estate in Spain is mostly on the islands.
The property website Idealista has revealed that the island of Formentera is the most expensive place in Spain to buy a property, with an average price of 7,653 euros per square metre. The second most expensive place is Deia, on Majorca (average price per square metre is 5,909 euros), while Sant Joan de Labritja in Ibiza (5,165 euros) is the third most expensive, followed by Ibiza Town (4,910 euros per square metre)
Elsewhere in Majorca and the Balearics, Idealista gives figures of 4,792 euros per square metre for Sant Josep de Sa Talaia in Ibiza; 4,649 euros for Andratx; 4,641 for Santa Eulalia del Rio (Ibiza); 4,268 euros, Calvia; 3,825, Sant Antoni de Portmany (Ibiza); 3,629 for Canyamel (not a municipality; part of Capdepera); and 3,563 euros for Valldemossa. Of the top twenty most expensive places, eleven are in the Balearics (five in Majorca, five in Ibiza, plus Formentera).
Away from the Balearics, San Sebastian in the Basque Country is the most expensive – 4,818 euros per square metre.
Valencia is for obvious reasons, not on this list.
The cheapest municipality in Spain is Badajoz in Extremadura (1,148 euros per square metre).