The luxury real estate market is constantly changing, with successive changes in the profile and preferences of buyers. For this reason, it is essential that professionals operating in this sector are attentive and equipped with up-to-date information.
In the particular case of 2022, it is essential to highlight some changes in society that will influence the property acquisition process . These changes will certainly be reflected in the trends in this sector.
Take the opportunity now to learn about 4 trends that will dominate the luxury real estate market during this year.
1. Maintaining interest in the luxury real estate market
In the years 2020 and 2021 (especially in the first), it was expected that there would be some uncertainty regarding the luxury real estate market .
However, the level of interest and business volume in this segment remained unchanged, even showing an upward trend.
In an unequivocal demonstration of resilience, we witnessed the flourishing of business opportunities that made it possible to counteract the slowdown in tourist activity in Portugal.
With successful pandemic mitigation and high vaccination rates, it is expected that high-standard properties will remain at the top of investors ‘ desires in the country.
2. Luxury and comfort seen as priorities
The COVID-19 pandemic has brought, directly and indirectly, significant transformations to society globally.
With the normalization of teleworking , the home has become a privileged space, as it provides increased security. It is no surprise, therefore, that people are spending more and more time in their homes.
On the other hand, millennials currently have considerable purchasing power. Encompassing young adults born between 1981 and 1996, this group has been actively redefining the luxury real estate market .
Just a few years ago, staying at your parents’ house was almost an inevitability for this generation. But the situation has changed, and today there is a strong focus on luxury properties , instead of more modest homes.
3. Growing environmental awareness
The millennial generation – and beyond – has sustainability as one of its main values. As such, the implementation of measures based on environmental awareness is something that has been seen in the luxury real estate market.
The installation of solar panels, the incorporation of “green roofs” and the application of multiple energy saving systems are, therefore, features highly valued by investors in the premium segment .
4. The strong focus on technology
Smart properties , with the integration of innovative technological resources, can significantly facilitate the lives of their inhabitants.
When used effectively, cutting-edge technology can simplify household tasks and improve the experience of being at home. This useful ally has a practical and personalized character that has a positive effect on each resident.
Biometric identification upon entering the property, the highly reinforced Internet network, control of the property’s surveillance cameras , from different devices, and the ambient sound in different rooms are just a few examples that illustrate the convenience and comfort that the technology can offer you.
Is the luxury real estate market a sector that interests you? Would you like to stay up to date with all its news and future trends?
DS PRIVATE is a company specialized in the areas of real estate mediation, credit intermediation and construction of properties within high quality real estate . Check out the DS PRIVATE blog and learn more about this lucrative area of business
