The luxury properties market, especially the Super Prime segment, is witnessing consistent growth and solidifying its position as one of the most resilient sectors in the global residential landscape. Defined by properties exceeding €10 million in value, this segment attracts ultra-high-net-worth individuals who are largely insulated from the economic fluctuations that affect other real estate markets.
According to the specialist consultancy Knight Frank, the number of transactions for these high-value properties has increased by 66% in the past five years. This growth is mainly driven by a rise in global wealth and an increase in supply in key markets such as Dubai, Miami, and Palm Beach. Ultra-luxury properties have seen an increase in price per square meter since 2021, when the post-pandemic period revealed a surge in demand from buyers eager to secure a second or third residence that offers security, comfort, exclusive services, and ample outdoor space. In Spain, the price per square meter now ranges between 8,000 and 18,000 euros in prime areas of Madrid and Barcelona.
The Super-Luxury Property Buyer
The demand for luxury properties is largely led by international buyers looking for exclusive destinations with economic stability. These buyers tend to prefer properties offering personalized services, such as Branded Residences, and are especially drawn to coastal regions with potential.
In Spain, destinations like the Canary Islands attract international buyers throughout the year, although there is a limited supply of new properties. Among the most active buyers are individuals from United States, the United Kingdom, and Germany, with increasing interest from investors from Poland, the Netherlands, and the Middle East.
Despite some market fluctuations, the outlook for the Super Prime segment remains positive, especially with falling interest rates. Property developers are confident that this sector will maintain its momentum into 2025, driven by macroeconomic stability and growing demand for properties viewed as secure investments. Additionally, there’s a shift toward high-potential areas for luxury properties, focusing on sustainability and cutting-edge technology.
