Before you talk about luxury housing, you have to talk about what luxury is today in our society. The great sociologist Gilles Lipovetsky, author of “The Era of Emptiness” or “eternal Luxury”, defines today’s luxury as a market “hierarchical, differentiated, diversified, and coexists with an intermediate and inaccessible luxury”. “You can no longer speak of a luxury, but of luxuries, at various levels, but for diverse audiences” assures in his latest work Lipovetsky, a whole best seller of the sector.
Luxury home in Madrid
The luxury houses, according to the experts, respond, however, in Madrid to some general patterns. Although it is true that then different interpretations of luxury are given. In Madrid it is considered, according to these patterns, that a house is luxury when its price exceeds 750,000 euros, has an excellent location in the so-called prime areas of the city (especially Salamanca, Chamberí, Chamartín and center), good Distribution, spacious and spacious, have excellent communications and quality services in your environment. In some cases, it is also considered if they are close to the most prestigious schools and business schools, as it is a demand that some customers usually make, especially South Americans. And, of course, those with legal certainty.
According to Álvaro González de la Hoz, director of Larvia Privilege, “We are facing the best time to buy luxury homes in Madrid.” “The scenario of the Spanish economy, with good prospects of growth for the next few years, and the price adjustment that has been carried out in luxury properties, set good expectations in the medium and long term” says Álvaro Gonzalez de la Hoz.
One of the indicators most used by the experts of the market of the luxury is the International Index residential Prime (PIRI in its English nomenclature). This report is recognized as one of the most complete in the sector, and periodically analyzes the real estate prices of the 100 most important luxury markets and second home in the world. Madrid, without going any further, is placed in the position 32 of this prestigious ranking, at the same level as London, for example.
Some professionals are also pointing out lately as part of the decision of some of these luxury home buyers, the top gastronomic offer in Spain. To carry out a good investment, which will be profitable in the medium and long term for its revaluation, and to enjoy the quality of Spanish life and the prestige of its chefs, also influences the decision making of the buyers of foreign luxury houses.