Luxury property for sale in Spain is a special market segment that lives by its own rules. Owning such objects is not only pleasant but also very profitable.
Status housing in Spain is growing in price
The cost of the most luxurious apartments and houses usually practically does not decrease even during a crisis in the real estate market. Investing in such facilities makes you more likely to save money.
The rapid rise in prices for this market segment is not typical. As a rule, such real estate becomes more expensive by 2-3% during the year. But now, in Spain, there is a unique situation: according to the results of the first half of 2017, the average cost of an elite square meter rose by 7%.
Experts attribute such a high increase to the consequences of Brexit and the fall of the pound sterling, as well as the growth of mortgage lending in the Spanish kingdom.
Where is Spanish luxury real estate located?
Premium offers are available in almost all regions. However, their maximum number is concentrated in:
- on the Costa del Sol and the Costa Brava,
- Balearic Islands,
- the coast of Valencia.
Over the past year, prices for luxury properties have increased by more than 10%! Buying luxury real estate in these regions will allow you to save and increase your money.
More than 60% of buyers of expensive housing in the capital of Spain pursue investment goals. And expensive apartments and villas in Barcelona are more often used as a second or even main place of residence.
How much does luxury housing cost in Spain?
The lower limit of the cost of premium housing in Spain is €900,000. Currently, the average price of an elite square meter is €6,500.
Luxury real estate is not only modern villas on the seafront, built using the latest construction technologies. Lovers of antiquity can pick up a restored and updated historic mansion in Spain. Despite the cultural and historical value, the cost of an object of this type can be comparable to the cost of a very modest villa on the Cote d’Azur in France.
In large cities, you can find prestigious apartments. Their area is comparable to the area of the villa. These apartments are located in the city center within walking distance of key attractions.
Who buys Spanish luxury real estate?
The Kingdom of Spain is a country with high profitability assets. Over the past three years, the market has already recovered from the crisis. Foreign investors who prefer to work with expensive houses and apartments have returned here.
Buyers from France were the most active in this sector. It was the French who bought most of the expensive housing in Spain. On average, they spent about 2 months on the purchase, and the transaction was made after inspecting 4 houses. The French turned out to be the most prompt buyers, especially in comparison with the Spaniards themselves. Locals needed 7 months and 8 views to make a final decision.
Citizens of Great Britain, Belgium, and Germany follow the French. The Chinese were the most thoughtful and slow buyers of expensive real estate (9 months and 15 visits).
Citizens of non-EU countries have shown themselves quite actively in the elite sector. Latin Americans prefer to buy properties in Madrid, the elite of the Middle East settled in Marbella, and the Swiss mostly opt for Ibiza.
In the classification of Spanish residential real estate, many terms are unusual for foreigners, which sometimes causes difficulties for buyers looking for high-quality housing in this sunny and hospitable country. What is the difference between an apartment and a penthouse and a bungalow from a villa?
Apartments in apartment buildings are the most common type of housing. Luxurious residential complexes in major Spanish cities and resort areas have their own swimming pools, beautifully landscaped areas, and entertainment infrastructure.
In the southern regions of Spain, studios are very common – open-plan housing, in which only a toilet and a bathroom are separated from the main room by a wall. However, full-fledged apartments are more common in elite-class properties. The number of bedrooms can vary from three to four to one and a half dozen, and in luxury apartments, most bedrooms have their own bathrooms.
Among the characteristic features of premium Spanish apartments are spacious lounges, dressing rooms or even saunas, many sunny terraces, and breathtaking views.
In the literal sense, the pinnacle of housing in apartment buildings are penthouses – view apartments on the top floors. Penthouses often consist of several levels and may have private pools and solariums, and in terms of comfort, they are not inferior to detached houses.
A detached house is undoubtedly the most prestigious and expensive type of housing. Need to mark It should be noted that in Spain, such housing is the prerogative of the wealthiest people who can afford a second “resort” home. In addition, Spanish villas are also popular with foreigners. Small houses up to 200-300 m² are often called chalet, while larger houses are considered villas. Villas can be located on their own land or in urbanizations: in this case, each building has its own plot, which is quite small, but on the territory, there may be a communal swimming pool, a tennis court, or even a golf course. The maintenance of such a house will not be cheap, but the comfort, peace, and privacy are undoubtedly worth it.
Townhouses and bungalows are a transitional stage between apartments and detached villas. Townhouses are long buildings under one roof, divided into separate sections by vertical walls. Each townhouse has its own entrance, a small plot of land, and a garage. Bungalow is a two- or three-story building divided into several apartment floors. As a rule, the owners of the lower apartment own the garden, and the owners of the upper dwelling on the roof terrace. Both bungalows and townhouses are found in historical and ancient quarters, but they are most common in modern resort urbanizations.
In a small article, it is difficult to fully cover the diversity of residential real estate in Spain. Suppose you are interested in housing in this sunny country. In that case, we recommend contacting the Spain-Real.Estate specialists, who will acquaint you in more detail with the types and types of Spanish luxury real estate.