Real estate remains one of the main safe-haven assets for investors and high-net-worth families. But those seeking ultra-luxury homes in Portugal and Spain will find a limited supply, concentrated in just a few locations, with Lisbon standing out in the Portuguese market, and Madrid, the Balearic Islands, and Málaga in the Spain. Data from idealista shows that ultra-luxury properties, priced above €3 million, account for only 18% of the premium residential stock across the Iberian Peninsula.
At the end of the second quarter of 2025, there were around 60,000 high-end homes for sale at over €1 million in the Iberian market, revealing an uneven distribution on both sides of the border. Only one in four luxury homes was in Portugal, with the vast majority located in Spain (72%).
Within this exclusive Iberian market, the ultra-luxury segment is particularly small, according to the same idealista data. At that time, there were just over 11,000 homes for sale above €3 million, representing 18% of the total premium stock in both countries.
More than 90% of ultra-luxury homes are concentrated in just 10 Iberian locations. Leading the list are the Balearic Islands, with around 3,000 properties for sale, followed by Málaga (2,271), Lisbon (1,198) and Madrid (1,021). The top ten is completed by Faro, Barcelona, Alicante, Girona, Santa Cruz de Tenerife, and Setúbal. The Porto district ranks 12th, with only 97 ultra-premium homes on the market.
This uneven distribution of ultra-luxury homes is clearly visible on the Iberian map, as Spain accounts for the majority of the stock (78%). Moreover, five Portuguese islands and nine Spanish provinces have no properties on the market at this price level. Thirty-four territories across Portugal and Spain have fewer than ten homes listed above €3 million.
Therefore, idealista/data shows that the vast majority of premium homes for sale in Portugal and Spain are priced between €1 million and €3 million (almost 50,000 properties, representing 82% of the total luxury stock). The areas with the largest supply remain the Balearic Islands, Málaga, Lisbon, and Madrid.
Within this luxury price range, nearly all Iberian territories have at least one property listed between €1 million and €3 million — the only exception being Zamora in Spain. However, the distribution of luxury homes remains uneven, with greater concentration in capital cities (Lisbon and Madrid), other major cities (such as Porto and Barcelona), and renowned tourist areas (such as Faro and the Balearic Islands).
