La Zagaleta - Spain’s most expensive place to buy and rent property

Based on recent research from the property portal Idealista, Benahavis continues to be the most expensive place to buy or rent property in Spain.

Benahavis is not surprisingly ranked in first position considering it has some of the most prestigious and exclusive urbanisations and gated communities in Spain, including the infamous La Zagaleta where senior company executives, celebrities, sporting stars and multimillionaires all own homes.

La Zagalata consists of over 250 homes built on plots of between 3,000 and 10,000 m2, together with two 18 hole golf courses. Property prices here are well above everywhere else in Spain with average property prices of over €1.8 million and average monthly rent of around €4,000.

La Zagaleta’s villas occupy a 900-hectare estate between mountains and valleys, but with views of the Mediterranean. Construction began on the urbanisation in the early 1990s thanks to a group of investors led by Enrique Pérez Flores. The land had first belonged to the family of a well-known pharmaceutical businessman. It then passed into the hands of arms dealer Adnan Khashoggi. In 1989, the banks seized the estate of the Saudi tycoon to pay for his debts. It was then that Pérez Flores set his sights on the land to build his urban project and transform La Zagaleta into what it is today.

The hallmarks of La Zagaleta are now privacy, exclusivity and security. The exclusive complex is located just ten minutes away from Marbella and has access to two lush golf courses, elegant clubhouses and an equestrian centre.

In total, nine municipalities in Malaga were ranked in the top 50 most expensive places to buy, including Marbella in third place with an average property price of €1.1 million and Estepona where the average price is €490,000.