You could say that buying a penthouse in our country continues to be the great dream of a real estate investor. Everyone to some extent has, at some point, fantasized about purchasing a penthouse and enjoying the advantages that this kind of property offers. However, how much does it currently cost in Spain? Some time ago, we wrote an article in this blog stating that a penthouse was the most desired property for a real estate investor. In that article, we mentioned that this kind of property in Madrid would cost more than 12.000€/m2. Today, we want to carry out an X-ray of all Spain so as to calculate how much a penthouse would cost in different parts of our geography. Even though this type of property has always been very much sought-after, we must point out that due to the pandemic its demand has increased even more, as we have already said in this blog. Hence, houses with open spaces became much more valued and there existed a growing interest for penthouses. We can say that the coronavirus has changed the preferences of the homebuyer, and penthouses gained in popularity as open spaces became a priority for the homebuyer. Today, we are going to find out how it costs to buy a penthouse in Spain. Shall we do it together?

ON AVERAGE 23% MORE EXPENSIVE

The difference in price between a penthouse and a normal house in Spain can exceed 40% or even 50% in exclusive areas of Madrid or Barcelona. According to the appraisal company Tecnitasa, the purchase of a penthouse in Spain is on average 23% more expensive than that of a normal house. This appraisal company has calculated that the purchase of a house in Spain costs an average price of 1.649€/m2, whereas a penthouse would cost 2.000€/m2. This comparison has been made between penthouses and flats in the same building on coastal locations as well as in Madrid which has also been included because it is one of the Spanish cities where penthouses are most highly sought-after. In this blog we wrote an article about luxury penthouses , and we pointed out that the demand for this product was especially high in Madrid and that in areas such as Barrio de Salamanca, a luxury penthouse could fetch the price of 16.000€/m2. If we analize the national average, without taking into account luxury, then we can see that the autonomous community with a greatest price difference is Asturias where a penthouse costs 39% more than a normal house. To get a better idea, in the Community of Asturias a penthouse costs an average price of 2.102€/m2, whereas a normal house would cost 1.507€/m2.

THE BASQUE COUNTRY AND MADRID, IN THE NATIONAL AVERAGE PRICE

Andalusia is the most expensive community as the average price of a penthouse is 25% higher than that of a normal house. As we can see, this shows that it is 2% higher than the national average. According to this appraisal company, in Andalusia a penthouse costs around 2.031€/m2, whereas a normal flat would cost 1.624€/m2. The following autonomous communities are the Basque Country and the Community of Madrid, both of them reaching the national average because a penthouse there is 23% more expensive than a normal house. In the Basque Country, the average price of a penthouse is above 4.000€/m2, whereas in the Community of Madrid it would be higher than 3.800€/m2. Next come the Community of Valencia, Catalonia, Galicia, the Canary Islands, the region of Murcia and the Balearic Islands where the average price of a penthouse would be between 19% and 22% more expensive. Lastly and at the end of the list, we have Cantabria where the purchase of a penthouse would be 15% more expensive and with an estimated price of 1.891€/m2 with regard to 1.649€/m2 which a normal flat would cost.