Luxury housing is becoming more expensive. According to the report ‘Prime Residential World Cities Index’, prepared by the consulting firm Savills; in the 30 major cities included in the study, luxury housing purchase prices have risen by 2.4% and by 3.1% in the case of renting, during the first half of 2022. In addition, 90% of all properties of these characteristics have increased in price by at least 2.4%. This report only offers data from the cities of Madrid and Barcelona, where it reports an average price of 7,070 and 6,530 euros per square meter respectively. Despite being high for the national average, they are well below those of other cities: in Los Angeles it is 15,750 euros per square meter and in San Francisco 16,040 euros.
According to another report published by Idealista in TheObjetive, Spain has 40,295 homes on the market with a price of more than one million euros. In the case of ‘ultra-luxury’, those properties that exceed three million euros, there are 7,775 properties for sale. The city of Malaga, the Balearic Islands, Madrid and Barcelona account for 69% of this luxury offering. The next places on the list go to Alicante, with 10.6% of the supply, and Girona, with 5.5%. Palencia, Teruel, Soria, León, Zamora, Cuenca, Lugo, Guadalajara, Ourense and Burgos are the provinces with the fewest properties of these characteristics.
The future of luxury housing is uncertain. Although the rise in interest rates affects it less than traditional housing, it is also indirectly influenced. One of the characteristics of buyers of this type of product is that they tend to need less financing. At the beginning of 2022, it was estimated that the price increase would be 6.1%; however, this forecast has now been reduced to 4.4%, according to the report ‘Global Prime Residential Forecast’ by the consultancy firm Knight Frank, prepared at the end of the first half of the year.
Luxury five bedrooms in the Canary Islands
This villa is located in the third smallest municipality on the island of Las Palmas, in the Canary Islands. With a price of 1,58 million euros, it has 5 bedrooms, 519 square meters built and 2.339 of plot. The villa has two floors: on the first floor is the kitchen connected to the dining room, living room, library with office, guest toilet and two terraces; while, on the second floor there are four double bedrooms with bathrooms. In the outdoor area there is a swimming pool, barbecue and oven, as well as a parking area with capacity for six vehicles and a laundry room inside.
Modern luxury design in Madrid
Villa in Torreolodones/ GilmarLocated in the northwest mountains of Madrid with a price of 1.65 million euros. On a plot of 1,450 square meters stands a villa of 473 square meters and four bedrooms. “There is plenty of light, great qualities and open spaces,” says the property in the sales advertisement. On the second floor there are three bedrooms, one of them with en suite bathroom. In the basement, there is a gym and cinema room, as well as a garage and storage area. The main floor has a living-dining room with a steam fireplace, with access to a porch overlooking the pool.
Luxury Tuscan villa in Segovia
Finca in Segovia/ Gilmar
In Segovia, this Tuscas style, 1,800 square meter villa is not only surrounded by 170 hectares of land, which Gilmar describes as “gently undulating, enclosed with hunting fence, water, and its own electricity line”. It has 8 en-suite rooms, all around a central courtyard. It has three lounges with capacity for 20 diners, all with fireplace and several porches to enjoy the sunset. In the garden surrounding the villa there is a swimming pool and several ornamental fountains. It is for sale for 4,9 million euros.
Luxury sea views in Marbella
Villa Olympus/ GilmarUnder the name of Villa Olympus and in the heart of the Costa del Sol is one of the best luxury villas on the market. It consists of 9 bedrooms, in a complex of 2,449 square meters, built on a plot of 4,674 square meters for a price of 27.5 million euros. Villa Olympus is located in Marbella, in the urbanization Cascada de Camoján in the foothills of the Sierra Blanca mountains. “The villa welcomes you to an impressive entrance hall, with a remarkably high ceiling, a double staircase and extraordinary architectural elements,” says the company in charge of marketing. The villa has a heated indoor pool, outdoor pool, sauna, gym and cinema room. The villa has sea views from the terraces and interiors, blending the surroundings in with the beach shore.
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