Affluent Home Buyers Are Driving up Prices in Southern European Cities
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Affluent Home Buyers Are Driving up Prices in Southern European Cities

By LIZ LUCKING
Wed, Jul 31, 2024 8:33amGrey Clock 2 min

Lisbon was home to the fastest growing luxury-home prices in the first half of this year, according to a report Monday from Savills.

With gains of 4.2% in the six months through June, the Portuguese capital bested the performance of any of the other 29 prime property markets globally analysed by the property firm.

Cities in southern Europe and the Middle East saw their high-end home sectors perform best, with Lisbon followed by Amsterdam, Madrid and Athens, which all logged capital value increases above 3% over the same time. Dubai rounded out the top five with growth of 2.9%.

In southern Europe in particular, prime prices are being driven by a lack of supply, and American buyers have become a “key prospective buyer base,” Savills said, “thanks to a comparatively strong dollar and a growing interest in the lifestyle on offer.”

In the U.S., meanwhile, persistently high interest rates have impacted demand across the. housing market, and as a result, prime residential prices have fallen in three of the four U.S. cities monitored in the report, with only San Francisco seeing positive growth of 0.7% for the first half of the year.

Los Angeles ranked at the bottom of the list, with luxury prices falling roughly 4%.

Across all 30 cities analyzed by Savills, prime residential property prices “remained resilient over the first half of 2024,” recording an average growth of 0.8% and outperforming the 0.6% growth predicted for the year as a whole, the report said.

More than half (60%) of the cities recorded positive capital growth, “reflecting a level of relative confidence in the asset class,” according to Savills.

Looking ahead, “we predict an average capital value growth of 0.5% for the second half of the year, which would bring total 2024 growth to 1.3%,” said Kelcie Sellers, associate director at Savills World Research in the report.

“The ongoing supply-demand mismatch for high-end residential product is projected to fuel price growth in European cities such as Amsterdam, Lisbon and Barcelona, where 2% to 3.9% is forecast in the second half of 2024.”

This article first appeared on Mansion Global



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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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Property of the week: 10 Orient Court, Buderim

This sky-high home on the Sunshine Coast with iconic shipping container pool is a testament to modern design and engineering.

By Kirsten Craze
Fri, Sep 13, 2024 3 min

A breathtaking view and a lush quarter-acre block are high up the wish list with any lifestyle property, but this contemporary Buderim residence takes things to another level.

Designed and built by owners Stu and Nat Faid, the Sunshine Coast home reflects their vision and incredible attention to detail.

As an architect and designer, Nat believes a prime position deserves an incredible project.

“The heart of the house is undoubtedly the living area and expansive deck. At over 100sq m and elevated more than 6m above the ground, you literally feel like you’re floating. We love how the views stretch from the Glass House Mountains along the coastline to Mooloolaba. Across the ocean, you can even see the sandbanks on Moreton Island,” she says.

While the views and the 1024sq m land parcel make their mark, it’s the suspended 12m heated shipping container swimming pool that’s making waves locally.

“When people arrive, the first thing they do is look up,” Nat adds.

After purchasing the property in 2021, the pair knew the existing house wouldn’t live up to their family of four, but they fell in love with the location and outlook so decided to adapt.

Initially, the pool’s unique design was simply a reaction to an everyday Queensland problem, but ultimately became a feature.

“The pool was at first a product of practicality. We wanted to be able to watch the kids in the pool from the house, but to do that required elevating the pool more than six meters off the ground,” Stu says.

“When we looked at the engineering required, it conflicted with our minimal-touch ethos in preserving the land and the visual aesthetic of the finished design. What followed was a lot of searching for a solution, and as luck would have it, the answer was almost on our doorstep.”

Shipping Container Pools seemed like a no-brainer answer to the pool problem. Having moved internationally multiple times, the couple saw an opportunity to weave their personal story into the fabric of their new home.

“The opportunity to incorporate a nod to that chapter of our life into the build was too good to miss,” he says.

“It also unashamedly reinforces the origins of the pool construction, which ties into the rest of the design in the house. Throughout the home, we have embraced where the old meets the new, we have not tried to blend, cover or hide the origins of the home, we have chosen instead to make sure the evolution of the house is clear to see.”

The Faids’ global family journey is evident throughout the home, from the grand Middle Eastern entry doors sourced from Dubai where the couple once lived, to the remarkable views from the Glass House Mountains to Mooloolaba.

Created to enjoy every season, the house has a space for all eventualities with an open plan living area spilling out to the full-width deck and pool, a sleek kitchen with an Ilve integrated fridge and freezer, Bosch ovens, an induction cooktop, built-in coffee machine and microwave, two dishwashers, filtered water and a butler’s pantry.

Four spacious bedrooms each have built-ins, the main features a large ensuite with twin vanities and two more bedrooms share a“Jack and Jill” style bathroom. There is also a third full bathroom.

The Buderim home is 12.5kms from Mooloolaba and the Mooloolaba River National Park with the Sunshine Coast Airport 13.5kms to the north, however Stu adds that there is rarely a reason to leave.

“It would be fair to say that apart from popping down the hill to go to the beach, we often go days without ever leaving the village. It’s really is a wonderful spot.”

Packed with mod cons, the Buderim home also features six-zone ducted air-conditioning, engineered oak floors and a double-sided Stuv wood-burning fireplace, a mudroom, heated floors and sensor lights in the bathrooms. There is also a private elevator, solar power and battery, as well as landscaped gardens and a large lock up garage and shed.

The property at 10 Orient Court, Buderim is listed with Zoe Byrne and Greg Ward from Ray White Buderim and will go to auction on September 22 at 9am at Mercedes-Benz Sunshine Coast, 65 Maroochy Blvd, Maroochydore.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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