Spain's Luxury sector is going through one of its greatest moments
What do you consider to be luxury living? How would you define living the high life? I am sure you can think of many aspects other than living in luxury villas in Alicante. You're imagining fine dining, high end cars, first class trips... Because as you will learn in the next paragraphs, Spain's luxury sector is as healthy as ever.
The big luxury brands today face great challenges related to the digitalization of all aspects of our lives and the millennial culture, with their new tastes and needs. According to figures from the study "Global Powers of Luxury Goods 2017" by the auditor Deloitte, the luxury market grew in 2017 in Spain by 9.7% in sales with an average income of close to 600 million euros. An increase above the world average. Only France surpasses us, a country that occupies first place with a growth of 15% in sales. The Spanish Luxury Association shows that Barcelona is the favorite place for most customers to shop at luxury stores. Ciudad Condal leads the ranking with 32% of the high-end market, followed by Marbella with 26%, Madrid with 17% and the Balearic Islands with 15%.
Deloitte's study also shows that luxury in Europe is recovering, forecasting that this market will grow between 7 and 9% amongst other things thanks to the recovery of Spain as a market for Chinese tourists. Amongst other things, Luxury Villas. Don't forget that the Spanish coast, and the Costa Blanca in particular, is an important area for investors of luxury homes. Because Spain is an important market for the luxury real estate sector not only during the summer, but throughout the year. Buyers from all over the world come to our country in search of good weather and beaches. In fact, although in summer many opt to rent, now in the autumn the sale of luxury real estate begins to enjoy a complete revival.