La Zagaleta, the most expensive Real Estate in Spain
La Zagaleta offers mansions, golf and nature at prices that only the super-rich can afford. It is a bit of a mystery for the locals of the previously sleepy white village Benahavis who have little or no idea of life in this now-famous urbanization. La Zagaleta is contributing to about 80% of the town hall income and has made Benahavis one if not the wealthiest town halls per capita in Spain.
La Zagaleta in another life was the hunting estate of the late Saudi Arabian playboy once titled the richest man in the world “Adnan Khashoggi”. A short drive to Marbella and Puerto Banus it is today an estate reserved for some of the largest fortunes in the world. Discretion is the byword and staff are expected to uphold a code of silence regarding the mythical owners and residents in La Zagaleta. To be a neighbor here one has to pay at least a million euros for a plot, but the most expensive plots go to as much as six million. Direct Access to the golf course or having panoramic sea views carries a premium. In La Zagaleta it’s all about sectors and views.
La Zagaleta property prices
If you prefer a house already built, the most expensive may go to as much as fifty million and never be officially on the market! Currently, Villa Cullinan is being promoted as the most expensive mansion in Europe at thirty-two million euros. The actual range of houses for sale is between four and sixteen million. These amounts mean that La Zagaleta ranks as the most expensive real estate in Spain according to a survey by the top real estate portal Idealista. The average price of a property advertised with Idealista is about 6.7 million euros. More even than the palaces and mansions sold in Barcelona in the Avenida de Tibidabo which is the second-highest real estate according to them.
A Millonaire Life
However, the real difference between the two is you need an invitation to get into La Zagaleta. The level of confidentiality is very high, and the one hundred or so employees are expected to be very discreet. So, who does live there? Certainly not what you would expect, not famous footballers or media personalities. That lifestyle does not fit with the La Zagaleta ethos.
The first residents originally came from Switzerland and Germany and it’s more a Hermes and Chanel client than Gucci and Versace. Understated is the key. Mainly CEOs of Multinationals and high profile business people who insist on privacy and service. More recently, the residents are younger from Silicon Valley or startups and bring their families with the children attending the excellent International schools in Marbella. So, for now, Kim Kardashian and Kanye West will have to look somewhere else!
MPDunne – Hamptons International has a proven track record for sales in La Zagaleta. Check our website for the most up to date listings.