The profile of the luxury property buyer in Spain: Who are they and how much do they invest?
The luxury real estate market in Spain continues to attract high-end buyers, both national and international, who are looking for exclusive properties that combine luxury, prime location and value for money. From the Costa del Sol to vibrant cities such as Madrid, Barcelona and now also ValenciaThe profile of these buyers reveals a clear trend towards investing in properties that not only serve as a residence, but also as part of an asset diversification strategy. But who are these buyers, where do they invest and how much are they willing to spend?
Who are the luxury buyers?
The luxury real estate market in Spain is characterised by a strong presence of foreign investors. According to the latest studies, buyers mainly come from Germany, France, United Kingdom y SwedenThe number of buyers from North America and Asia is growing significantly. These buyers tend to have a high net worth, mostly in excess of €10 million, and see Spain not only as a place to retire or holiday, but also as an opportunity to invest in high-end property.
Among domestic buyers, the most common profile is that of businessmen, high-profile professionals and public figures such as sportsmen and women. These investors are looking for properties that combine luxury, privacy and exclusive services. They often buy in areas close to major cities or in elite tourist destinations, where profitability opportunities are high.
Where do luxury buyers invest?
The geography of luxury in Spain has expanded, and although the traditional areas are still the most sought after, new destinations of interest have emerged. Here we present an analysis of the most attractive areas for luxury investors:
1. Costa del Sol: Classic luxury destination
The Costa del Sol continues to lead the luxury market thanks to its unrivalled offer of sun, beaches and exclusivity. Cities such as Marbella y Estepona stand out for their gated communities, security, premium amenities and access to prestigious golf courses. The year-round mild climate and vibrant social scene attract European millionaires looking for a second home.
2. Balearic IslandsThe Mediterranean paradise
Mallorca e Ibiza continue to be the dream of many luxury buyers looking for beachfront properties with spectacular views. The tranquillity of these islands, combined with their cultural and gastronomic offerings, make them very attractive. Properties on these islands can easily fetch 5 million euros or more, depending on their location and features.
3. Madrid and BarcelonaRead more : Big cities, big investments
Spain's major cities are not far behind. Madrid y Barcelona offer luxury properties both in the city centre and in exclusive residential areas, such as La Moraleja in Madrid or Pedralbes in Barcelona. These buyers value proximity to financial, commercial and cultural centres, as well as investment opportunities in urban areas under constant development.
4. ValenciaNew emerging luxury destination
Valencia has gained popularity as a luxury destination in recent years, thanks to its balanced combination of modernity, history and proximity to the sea. In addition to its cultural and gastronomic appeal, Valencia offers high-end properties at more competitive prices compared to Madrid and Barcelona, making it an excellent choice for buyers looking for value and exclusivity.
Areas such as The Ensanche or around the City of Arts and Sciences have experienced an increase in demand for luxury properties. These areas offer state-of-the-art technology, ample space and access to world-class amenities such as marinas and private clubs. This trend is attracting international investors, many of them from Northern Europe.
How much do luxury buyers invest?
The average luxury buyer in Spain spends between 2 and 5 million euros, although in prime areas such as Marbella, Ibiza or the exclusive areas of Madrid, prices can easily exceed 10 million. These buyers are not only looking for residences, but also to invest in properties that offer long-term profitability and stability in the face of market fluctuations.
In terms of features, luxury investors value elements such as unique architectural design, spacious plots, advanced technology, privacy, and access to services such as spa, 24-hour security and panoramic sea or mountain views.
Luxury market trends in 2024
The luxury market in Spain has proven to be resilient, even during times of economic uncertainty. Indeed, many international buyers see high-end properties as a hedge against inflation and the volatility of financial markets. In addition, labour flexibility has encouraged many investors to seek second homes or larger properties outside of urban centres.
By 2024, interest in properties offering open spaces, gardens and large terraces is expected to continue, reflecting the change in lifestyle brought about by teleworking.
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