Luxury Homes: What Reasons Have Increased Their Demand?

The pandemic had an impact on many aspects of our lives and affected numerous sectors and markets, including the real estate sector.

Following this crisis, the real estate sector in Spain has been recovering positively.

In August 2021, there were 38,154 home sales transactions registered. This reflects a 12% increase compared to the previous year, according to data from the General Council of Notaries. A recovery in which luxury homes have played a significant role.

Private buyers and investors interested in luxury properties located in major cities like Madrid or Barcelona, as well as in the islands and coastal areas, have played a major role in this recovery.

But, what other reasons have increased the demand for luxury homes?

Spain, an Attractive Destination

Spain has become an ideal place for foreigners seeking luxury homes in sunny destinations, coastal areas, and good weather, offering them a variety of services such as gastronomy, culture, and entertainment.

The Mediterranean coast and the Canary and Balearic Islands are good examples of this.

New Real Estate Opportunities

The pandemic halt has generated real estate opportunities with high profitability potential, so these buyers have taken advantage of market opportunities and buying facilitations to make investments.

The luxury market is on the rise, and this means it’s the time to invest before prices increase, taking advantage of these opportunities.

After the pandemic, homes with added services and values are in high demand, such as heated pools, security, home automation, high-quality finishes and materials, and especially a workspace as remote work becomes more common.

The rise of this market is also accompanied by the emergence of new audiences showing interest in luxury properties

A New Audience for Luxury Properties

The rise of this market is also accompanied by the emergence of new audiences showing interest in luxury properties.

A somewhat younger audience, start-up founders, and successful individuals in the tech world, with high purchasing power seeking high-end properties with all amenities.

At Agora MLS Luxury, we’ll assist you in finding the luxury property that best suits your needs.

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