DEXTER, the specialist in financing high-end developments
The headline could not be more conclusive: sales of luxury homes will grow by 43% in 2024 and will be the market leader. Already today, in fact, 26% of new homes built are luxury. In fact, the first half of 2023 closed with more than 13,000 properties of this type for sale in Spain and Andorra, with a price equal to or higher than 2.5 million euros.
These are forecasts from the real estate network The Simple Rent, which specialises in the management of luxury housing. Cities such as Madrid and Barcelona concentrate 78% of the demand, although on the coast Andalusia and Levante stand out, these being the points of greatest attraction for the international buyer.
Significant increases have been observed in key areas, including an impressive 47% of growth in Barcelona, 55% in Ibiza and Madrid, as well as a doubling of sales in the Costa Brava compared to the same period last year.
Marbella, in the province of Málaga, is positioned as the epicentre of the coastal luxury segment with the largest offer, closely followed by the Balearic Islands and Madrid. In percentage terms, the luxury segment already accounts for 15% of the local market in the Balearic Islands and 9% in Malaga, for example.
Buyers of luxury homes in Spain come mainly from European Union countries, with an additional flow of clients from other regions such as the United Kingdom, North America and the Asian market. These are trends and variables ratified by DEXTER, and from the business development area, Ángel García: "it is an equation with several factors; on the one hand, foreign end buyers; but, increasingly, foreign developers who are looking for alternative financing with private capital, and who therefore seek us out. There is our experience in this niche and our knowledge of a market that, thanks to investment funds, is fully active," concludes García.
DEXTER, the specialist in financing high-end developments
The headline could not be more conclusive: sales of luxury homes will grow by 43% in 2024, being the protagonists of the market. Already today, in fact, 26% of new homes built are destined for luxury. In fact, the first half of 2023 closed with more than 13,000 properties of this type for sale in Spain and Andorra, with a price equal to or higher than 2.5 million euros.
These are forecasts from the real estate network The Simple Rent, which specialises in the management of luxury housing. Cities such as Madrid and Barcelona account for 78% of the demand, although on the coast Andalusia and Levante are the most attractive areas for international buyers.
Significant increases have been observed in key areas, with an impressive 47% growth in Barcelona, 55% in Ibiza and Madrid, as well as a doubling of sales on the Costa Brava compared to the same period last year.
