Certain conditions must be met if we are to associate the term “luxury”, “exclusive” or “of high standing” to a property. This is why if you want to determine if a house, apartment or any other type of accommodation belongs to the luxury real estate sector, it is necessary to look to its distinctive features, such as its price or location for instance.
When it comes to look for a luxury property it’s essential to look where it is located.
The most popular areas to find a luxury house are the premium ones, that is to say, the most exclusive areas of one city. Thus, real estate experts say that a housing can be very expensive and its main features well above average but even if it is located in a rural area it may not be considered as a luxury property if there is no real estate market in the area. If the luxury home is situated near the sea, it will have to be located near the best beaches if it’s to be considerated as a luxury good, while if we look at the inner cities, we would have to search the central districts and residential areas in the periphery of upper classes . Outside towns, luxury lies in more delocalized areas. The areas where we will find exclusive properties in Barcelona (since it is where the higher price housings stand) are the following districts: Eixample, Pedralbes, Sarria-Sant Gervasi, Les Corts, Ciutat Vella and Gracia, among others.
Interior design, is one of the most important elements that are used to define a housing of high standing. The interior design is the art and science of enhancing the interiors, sometimes including the exterior, of a space or building, to achieve a healthier and more aesthetically pleasing environment for the end user. Interior design is the process of shaping the experience of interior space, through the manipulation of spatial volume as well as surface treatment for the betterment of human functionality.
It differs from decoration in including concepts such as environmental psychology, architecture, product design and traditional decor.
Generally when we look for a luxury property, we are also looking for top-end quality. In terms of space, upscale housing has to have large rooms with heights exceeding 3 meters. Concerning facilities, you can typically found whirlpool baths, indoor heated pool and gym. For a family, the house or apartment must have large bedrooms with special features for youth and adults, bath units with a huge amount of space.
These luxury apartments generally come unfurnished, but they are equipped with high quality kitchen appliances, often including modern full size washers and dryers, with no additional cost. Granite countertops, large stainless steel sinks, high quality genuine wood cabinets and other design features that make these kitchens luxury properties for sale or rent.
Tiles, hardwood floors, plush carpet designs, private bathrooms, large walk-in closets are common features in these first level housings. Balconies, private garages and large patios are also common in luxury apartments.
The elevators are commonly used to get quick and easy access to higher floors levels. This is only for luxury buildings, instead mansions or individual comfortable houses are not concerned.
Concerning the exterior of the house: a property of high standing generally has tracks and land to practice various sports as well as spacious and well maintained common areas. All parking related costs are usually included in the sale or rent price.
If looking for a luxury property in Barcelona, you can find the highest housing prices in neighborhoods such as Sarria-Sant Gervasi (5,400 euros/m2), Les Corts (4,100 euro/m2) and the Eixample (4,000 euros / m2), while more Cheap recorded in Nous Barris (1,700 euros / m2) and Sant Andreu (2,600 euros / m2). When it comes to exclusive properties for sale in Barcelona, a luxury housing price should exceed 700,000 euros. Though, there may be price changes depending on the different locations.
Sale prices start from one million and a half and reach 9-10 million euros. Rent prices vary from between 3,500 and 7,000 euros per month. Ultra luxury sales can reach 18 million euros, and rents, 30,000 euros per month.
Costs of renting, which are not subject to regulation under the urban Rental Law (LAU). The renting of such housing is not subject to legal regulation, it is governed freely by the will of the parties, since the Urban Rental Law (LAU) aims to protect those who need housing and not people who can afford dream homes. However, this type of house itself is governed by the Law on Horizontal Property when it is a rented flat in a neighboring community.
Tax consequences or additional costs: luxury homes, depending on whether they are new or second-hand ones, will be taxed, either by VAT or by ITP. Like any other home, your purchase is subject to notary fees. So, they are not subjected to any special tax to raise the final cost of your purchase.