[EN] The luxury market in Spain changes trend: this is what buyers are looking for now

The luxury real estate market is becoming increasingly strong in Spain, which remains an attractive destination for foreign investment. As these are high-value assets, their annual evolution does not follow the same dynamics as those of a conventional home. For this year, a 4% increase in prices and a 5% growth in the number of operations are expected.

Despite the uncertainty international caused by conflicts and economic crises, the prime segment continues to be one of the country’s most resilient assets. Foreign investment plays an important role, accounting for around 30% of luxury real estate operations in Spain.

According to forecasts by luxury real estate firm Walter Haus, this growth is supported by three key factors: the strength of international demand, the shortage of quality product in key locations and the repositioning of luxury housing as a haven of capital in a global environment of uncertainty.

OPERATIONS WILL GROW BY 5%

As for the purchase and sale of luxury properties, they are expected to grow by 5%, a more moderate figure after a particularly dynamic year such as 2025, when in some months the increases reached double digits. The areas with the highest concentration of activity are Madrid, Barcelona, the Costa del Sol and certain areas of the Costa Brava.

When it comes to analysing sales possibilities, there is an increasingly clear pattern among buyers: the preference for «turnkey» homes. Specifically, 80% are looking for recently refurbished properties in which the additional investment to make improvements is minimal. This type of property has a competitive advantage and can achieve a higher valuation compared to other homes in the premium segment that have not been renovated.

MORE RATIONAL AND SELECTIVE GROWTH

«The luxury market is entering a more rational growth phase. We will not see large jumps, but we will see a certain upward trend in both prices and activity,» says Walter Haus. «The demand exists and is solvent, but it is much more selective. The buyer analyzes profitability, quality, and location before making decisions, which favors the best assets. In addition, real estate is a safer haven than ever.»

Finally, the luxury real estate market is showing a growing professionalisation, with the incorporation of financial criteria in 70% of premium housing operations. Factors such as capital protection, medium-term appreciation and rental potential are increasingly weighing in purchase decisions.