At WeRelocate BCN we explain why the luxury market continues to rise despite the pandemic.
In spite of these complicated times we have had to live through, the fall in property prices has not been as significant or as high as initially expected. In fact, there have even been properties that have increased in value.
This is the case of luxury housing, which has not only suffered a less significant fall in prices than the real estate sector in general, but is also as of now, expecting a market price increase of around 3%, according to experts.
If real estate has always been regarded as a safe haven asset, then luxury real estate is a real estate value that provides much more security with respect to the crisis, considering as well that there are always investors who have a large amount of money to sink into the sector.
It has been observed that in addition to the typical destinations in which foreign investors are usually interested, such as certain areas of the Mediterranean or the islands, that both Madrid and Barcelona occupy a privileged position in terms of foreign investor preferences.
Both cities share a great quality of life, an excellent climate and attractive prices for this profile of investor. This makes them both feature in the global top 10 of preferred destinations for a client looking for luxury real estate.
In addition to the classic profiles of foreign investors, there is now a profile of visitor who can telework and therefore afford to spend more time in our country without being dependent solely on holiday periods.
This has led to a record percentage of luxury home foreign buyers in 2021.