Spain is one of the most sought-after property markets in the world, thanks to the country’s rising house prices and improving economy. But where is the most expensive street in Spain?
New research from Engel & Völkers ranks the country’s streets by property price – and top of the list isn’t where you’d expect. While Madrid and Barcelona are among the priciest property markets, San Sebastián is home to the most expensive address: Hernani Street, with an average value of 12,700 euros/per sqm, up 6 per cent in the last year.
In second place is Pearson Avenue in Barcelona, with a price of 12,000 euros/per sqm, representing one of the fastest appreciating streets in the Catalan capital. In this street, there are plenty of family houses and apartments of approximately 150 sqm, with landscaped communal areas and multiple facilities. In Barcelona’s Paseo de Gracia (ranking fourth), the properties in most demand are in modernist buildings with high ceilings, terracotta tiles and large ornamental windows, features that are also found in small flats of around 50 square metres up to grand residences exceeding 500 sqm.
In Madrid, Serrano Street and Plaza Independencia rank third at 10,000 euros/per sqm. The most sought-after properties are renovated penthouses of around 250 sqm with high ceilings located next to Parque del Retiro together with apartments in large stately, historic buildings.
In the increasingly fashionable city of Bilbao, the most expensive properties are close to the iconic Guggenheim Museum located in the exclusive Euskadi Plaza, where property achieves 5,600 euros / sqm. This figure is almost doubled for property in the best streets in Valencia, where prices slightly exceed 3,000 euros / sqm in Colón Street and Paseo de la Alameda. Here, investors can find exclusive penthouses located in city the centre for approximately 3,200 euros / sqm.
“Although properties in these streets are very different from each other, there are common elements among them,” says Engel & Völkers. “The most sought-after are modern and minimalist homes that retain their original structural elements with features including original pillars and beams that are incorporated into the overall design and modern decor. These properties are often located in historic buildings and have views of the most representative areas of the city.”Google+