Some choose them as their first residence. Perhaps because they realize that living in the moment, enjoying each day as if it were their last, are no longer merely poetic phrases, but a dream that can be adapted to their routine. Green spaces, fresh air, recreational activities, relaxation and comfort in the same environment where their work and business take place.
Others seek them as a semi-principal residence. Those who prefer to leave the weekends or vacations to soak up the peace and quality of life offered by these properties generally connected to their hobbies. These hobbies can be: hunting, fishing, agriculture, vineyards, skiing, beach or simply the silence or the spectacular views in order to forget about their routines.
In both cases, the connection with family and friends are among the priorities of the most privileged when deciding their next real estate purchase.
The report “Global Property Handbook” of Barnes Real Estate 2021 edition reveals that the cities of Madrid and Barcelona are in the Top Ten of the best international destinations for investment in luxury real estate, placing Spain as the only country with two positions among the 10 most interesting.
The ranking is led by Paris and followed successively by: Geneva, London, New York, Quebec, Madrid, Barcelona, Lisbon, Moscow and Budapest. This order reveals that Madrid fell from second place to sixth and Barcelona is in seventh position.
Why do investors choose Spain?
In recent years, Spain has been a place chosen by large fortunes to invest in luxury homes. A trend that will continue to evolve despite the pandemic, according to experts. It should be noted that the Spanish economy had been consolidating strongly since 2015 and with 6 uninterrupted years of growth, surpassing Italy in purchasing power for the first time in history.
Several reasons justify that Spain stands out as a very powerful country in real estate investments. Its Mediterranean climate and its competitiveness as a tourist destination make it the second most popular tourist destination in Europe. In addition to being the world leader in Biosphere Reserves and in the number of World Heritage Sites. In addition, it is one of the safest and most peaceful countries in the world.
In addition, the competitive prices of the real estate market and the magnitude of the residential offer, make Spain an excellent opportunity for millionaires who want to add to their assets luxury homes for their habitual residence or to generate profitability through sale or rental.
Characteristics of luxury homes
Nowadays, the concept of luxury has changed, it is no longer limited to being something excessively expensive and exclusive. Amenities such as heated swimming pools, jacuzzis, tennis courts, gyms, etc. have become accessible to ordinary people thanks to housing developments, gated communities, country clubs or premium towers. Today their content has displayed other qualities more linked to the special, to what makes it unique in its kind, to what is capable of fulfilling the highest dreams of a buyer.
Therefore, a series of requirements have been established without which a property will not be considered luxury:
This is perhaps the first and most important requirement for a property to be considered luxury. It does not matter if it is located in a big city or if it is in the suburbs or in the countryside. The important thing is that the site where it is located must be high-end. The neighborhood must be residential and the most luxurious in the city. The urbanizations must be the most exclusive and secure. A palace located in the middle of a neglected, dull or unsafe area is useless. The environment is a determining factor in luxury housing.
High quality materials
A luxury property must be built with the best materials on the market. Every minimum detail must be thought of, no matter what those materials are, their value should not be skimped on. Fine woods, marble, valuable fittings, designer kitchens and bathrooms, equipped with state-of-the-art appliances. And if its age allows it, high-tech complements, especially in the security aspect. Finishes and finishes are very important, they are those details that make the difference.
This is one of the features most requested by buyers. The houses must maintain a distance sufficiently greater than the regulations to protect privacy as something supreme. The apartments should not have shared entrances, the entrances should also be individual to protect privacy and security.
Amenities and services
Both in residential neighborhood houses and in housing developments, services are essential. 24-hour security is essential, which includes the presence of concierges to control the entry and exit of owners and visitors, as well as cameras and electronic perimeter fencing systems. Some of the services required by millionaires are: services such as swimming pools, meeting and event rooms, garages for more than one car, gyms, recreation areas for children, courts for different sports, micro-cinemas, etc. Of course, the order of importance will be given by each buyer according to their tastes and needs.
Nowadays it is not essential to have a large property to be considered luxury. However, it must have enough amenities for maximum comfort with bright and proportionate environments. The distribution of spaces is very important. Each bedroom should have its own bathroom and the master bedroom should have a spacious and specially divided dressing room. Also, kitchens should be bright and airy to avoid the concentration of odors. The service quarters are fundamental, since it is part of the lifestyle of millionaires to have domestic service employees busy with different tasks. The houses also feature terraces, wide verandas, large green spaces, abundant and diversified vegetation and others.
Undoubtedly, price is related to quality. The appraisal depends on the excellence and experience of the best professionals. Many experts agree that we can be talking about a luxury home from a base of 1 million euros. And they comment that the ceiling is indefinite.
Luxury Real Estate Spain
Most of the investments in luxury homes range from 2 million euros to 10 million euros.
If you want to invest in luxury homes, do not hesitate to contact us, at Sir Mansions we have specialized agents to advise you!