According to Engel & Völkers, there will be a series of changes that will be reflected in the preferences of buyers of luxury properties.

Here are some of the key trends expected for the luxury real estate market in Portugal in the year 2024, according to the company:

● Strategic location

The preference for exclusive and strategic locations continues to be a determining factor for buyers of luxury properties. Regions that offer privileged access to services, culture and surrounded by green areas continue to attract investors looking for unique experiences. Location continues to be a crucial factor when it comes to purchasing decisions. However, there is an evolution in buyer preferences, as they are not limiting their search to just traditionally prestigious areas, but also to locations that provide a combination of convenience, privacy and access to exclusive amenities.

● Leisure, experience and well-being spaces

Properties that offer experiences such as private spas, leisure areas and outdoor spaces are being highly valued in the luxury market. The increased focus on quality of life has driven a significant change in the design and conception of exclusive properties. Increasingly, luxury properties are being meticulously designed to provide spaces dedicated to leisure and well-being. This approach reflects the demand for elegant homes, but also for environments that promote a balance between luxury, comfort and health.

● Cutting-edge technology integration

Smart, technology-integrated homes are increasingly becoming the norm in the luxury market. The presence of home automation systems, advanced security and technologies used for leisure play a crucial role in determining the attractiveness of a property. In luxury properties, most of these features are interpreted as standard elements and not exclusive features. These types of technologies not only offer convenience but also represent a standard of excellence expected in luxury homes, which reflects the growing importance attached to connectivity and practicality, positioning smart homes as an effective response to the expectations of the contemporary luxury market.