As previously shown, one of the main drivers for growth in the luxury property sector is the high mobility of HNWIs, who increasingly invest in second homes in the most beautiful international holiday destinations. Improvements in to air transport, the boom in the private jet market since the 2000s, as well as the globalization of business have all boosted demand for second homes, which now represent a solid investment in terms of profession, family, education, and leisure. And in the last few years, investing in a second home has even become a profitable opportunity thanks to the holiday rental sector, which also facilitates the property’s upkeep.
According to BARNES, the Top 5 oceanfront destinations for second homes are the Côte d’Azur in France, the Balearic Islands in Spain, Palm Beach and the Hamptons in the United States and Porto Cervo in Italy.
The Global Property Handbook analyzes each destination in terms of areas in demand, types of luxury property in demand, clientele, the market for luxury real estate, and what you can expect for a budget of 1 million dollars.