- the Economist
Summer is a time of opportunity to buy or rent luxury homes, especially if they are in a coastal location like the Costa Brava. The area is characterized by the great attraction that it arouses both nationally and internationally.
The exclusivity of this region has caused, above all, French demand to increase considerably in the area. And it is that, according to data from the luxury real estate company Barnes, currently, the French monopolize 50% of the purchases of luxury homes in the area .
Despite the fact that the health situation and the restrictions on mobility generated uncertainty in reference to the behavior in demand, Elizabeth Hernández, director of Barnes Barcelona, assures that the volume of acquisitions carried out by French has been maintained , whose first residence is in Barcelona. "Buyers of luxury homes of French origin who reside outside of Spain will reappear as soon as the health situation and mobility improve," she says.
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The pandemic has caused a change in the demand incentives to buy or rent a home. Currently lifestyles have changed and, therefore, the client focuses on different aspects. " Buyers now ask us for homes with exterior elements such as land, terraces or community areas . During the first half of the year we have had a notable increase in operations with these characteristics," they indicate from the company.
Likewise, teleworking has also changed location preferences , since many of the French who live in large cities decide to acquire homes located on the Costa Brava to improve their quality of life.
In this context, experts predicted that as a result of the coronavirus crisis there would be a drop in the average price of housing , however, the opposite has happened in the premium residential segment. "Following the behavior of the first semester, everything indicates that in the short and medium term the prices will continue to rise gradually in residences on the Costa Brava", says the expert. At the same time, the pandemic has caused the level of savings of the highest incomes to increase.
The combination of capital from large portfolios and new habits in their lifestyles will cause housing to become a very important asset for luxury buyers.
