Frenzy for luxury homes in Spain. The demand for exclusive properties, those valued at over two million euros, has grown by 55% in our country, according to data from the real estate network The Simple Rent.
In the past year, this real estate network has detected an upward trend in luxury residences that have higher appreciation rates and faster sales than other properties. Spain leads Europe in the buying and selling of luxury homes.
The value of these properties has increased by 13% in the past year, a trend that will continue to grow in the coming months due to high demand, according to the firm. Profile of the luxury home buyer
Real estate experts explain that there are two profiles of buyers in the luxury sector. On one hand, there is an international buyer profile, with British buyers standing out followed by Germans and French. On the other hand, one of the direct effects of the war in Ukraine has been the decrease in Russian investor profile, which has declined along with Chinese investors.
These buyers are typically executives over 40 years old with families. They have high purchasing power and seek luxury homes with exclusive and sophisticated features. After the pandemic, the value of living in a space with large plots and added amenities has increased.
Sonia Campuzano, CEO of The Simple Rent, explains: «Privacy is a priority for luxury home buyers. They seek homes with large plots of land, away from the hustle and bustle, and with advanced security measures such as surveillance systems and controlled access. There is also a strong preference for homes in gated communities or with adjacent properties that ensure tranquility and privacy.»
Additionally, these buyers expect a wide range of high-quality services in the immediate vicinity of their luxury homes. They may look for properties near exclusive clubs, golf courses, spas, fitness centers, and other top-notch leisure facilities. They will also value proximity to renowned hospitals, high-quality private schools, and other important services.
On the other hand, the second most common profile in luxury home purchases is the investor profile. In this case, the foreign investor profile stands out again, as they see luxury as a secure investment. They seek to invest in luxury homes as a way to preserve and increase their capital in the long term.
As a result, luxury properties are positioned as a safe haven due to their stability and appreciation potential, as in Spain, this type of homes continue to appreciate above the average in the real estate market.
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