Good prospects for luxury real estate sector

Good prospects for luxury real estate sector

The luxury real estate sector has good perspectives in Spain during 2022. Two weeks ago, we wrote an article in this blog stating that the residential market in Spain remains very active. Today, we say that the luxury sector is also subject to great activity as transactions have not ceased to take place during these last months and the demand for this type of property has not, in the least, slackened up. What is more, experts believe that far from slackening in demand, luxury housing will be even more sought after in 2022. Real estate analysts consider that 2022 will be a great year for the luxury real estate sector, to the point of reaching the same level as in 2019, before the pandemic shook the world. Therefore, we can say that these are good times for the high standing real estate sector. Some time ago we wrote an article in this blog about the emergence of a new kind of buyer in the luxury real estate sector. These new buyers are millennials with high purchasing power, and this shows that high quality real estate is very much alive in our country. Experts generally believe that the transactions will increase in the large cities, hence, investors have set their sights on this type of properties which will, as we have already said, be the protagonists in our real estate market throughout 2022.

Good prospects for luxury real estate sector
Good prospects for luxury real estate in Spain in 2022

FOREIGN INVESTORS, GETTING MORE AND MORE IMPORTANT

Experts on the matter consider that during this year, 2022, foreign investors will regain importance in the luxury real estate sector in our country. Little by little we are overcoming the coronavirus health crisis and in Spain vaccination has made much progress, thus, making these factors encourage foreign investors even more. Some time ago, at the end of 2021, we wrote an article in this blog about the increase of luxury housing in Spain. When that article was written, the end of the health crisis still seemed very far away, but nevertheless we stated that high standing housing investments had increased up to 20%. We explained how this sector was in top shape and we also pointed out that foreign investors were once again protagonists after having nearly disappeared during 2020. Throughout this year, 2022, this prominence is expected to increase even more and according to experts there will be an important profile of Asian and Latin American buyers. In addition, Russian buyers must also be mentioned although this is subjected to how the war in Ukraine evolves and how the economic sanctions carried out by the European Union and the United States will affect Russia.

Good prospects for luxury real estate sector
Experts generally believe that this year, 2022, foreign investors will regain importance in the luxury real estate sector in our country

VERY SPACIOUS HOUSES, TOP QUALITY MATERIALS

What kind of properties are preferred by high standing housing investors? They want very spacious houses, located in the best areas (especially in large cities) and built with the highest quality materials as well as being equipped with state-of-the-art domotic. These properties do not necessarily have to be newly built provided that an exquisite renovation has been carried out. We can therefore say that second-hand housing also functions in the luxury real estate sector, however, the materials used for the renovation play a decisive role as they must be of the best quality. We can say that this is an X-ray of the type of property that the buyer of top standing housing is looking for.

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