Despite bargains to be had at the lower end of the Spanish property market, there has been a huge surge in demand for luxury homes worth up to £20 million according to Spanish Hot Properties.
60% of the high- end properties being sold by the company cost between €1.2 - 2.5 million.
Managing Director Nick Stuart explains: "Historically our client base for the super lux villa has been driven by British buyers but as that market has tailed off we are seeing a huge influx of interest in our multi-million pound properties from Russian and Belgian buyers. They are not looking for 'bling' properties but homes which are utterly tasteful, located away from the centre of holiday towns."
Popular areas for high end investment include Majorca and Marbella which have a high uptake among celebrities including Enrique Iglesias and Gary Linekar.
The most expensive property the company currently has on its books is a six bed and six bathroom villa in La Zagaleta priced at €11,000,000. The hill top mansion boasts 360 degree panoramic views of the mountain ranges and coastal views cross to the coast of Africa. Other features include a snooker room, gym, sauna, steam room, heliport, cinema room, and garage space for 15 cars.
Read our guide to buying a property in Spain
Search for available Spanish properties