Luxury vacation rentals on the rise

Aerial view of the swimming pool of Finca Es Cabàs.

Luxury vacation rentals have grown 4.5% between 2011 and 2015 worldwide. It is a travel style defined by sophistication and luxury, the comforts of a concept different from a five-star hotel or a large resort. We are talking about incredible vacation homes. Dream vacation homes with sea views, houses in breathtaking archipelagos, medieval castles and splendid villas. Incredible houses! 

According to the report "Luxury tourism by the Bocconi University of Milan and the International Tourism Exchange", this industry moves around 1,000 million euros every year around the world. A sector of products and services that in Spain last year had a turnover of more than 6,000 million euros. Luxury Made in Spain is more present than ever and with an offer that never ceases to amaze. 

Luxury made in Spain

Marbella, with more than 1,500 million in earnings, took 26 percent of that huge and succulent cake, according to Luxury Spain data. The volume of business makes the city of the Golden Mile the second national power in this sector, only behind Barcelona and with almost a dozen points more than Madrid.  

The Made in Spain luxury products and services sector expects to close the year with sales of around 6.3 billion, 5% more than in 2016, according to data from the Spanish luxury association. This grouping attributes much of the improvement to the upturn in travelers with greater purchasing power and those who are motivated by shopping tourism, thanks to the new open areas connections with Asia, in particular to countries such as China, Hong Kong or Japan, while highlighting the increase in exports as another positive factor for the sale of such products.

Vacation rentals are an effect of the growth of tourism, of tourist rentals. Already offered on platforms such as Airbnb, from a sixteenth century house in the province of Pisa, which belonged to Alessandro de Medici, with paintings of the time and antique objects, in a beautiful rural setting that can be rented from 6,797 euros a week, to a home in Mallorca, nestled among the rocks and vegetation of Cala Llamp. With rooms offering views of the Mediterranean, a spa with sauna and Turkish bath, a large cinema, a wine cellar with excellent wines and 7,143 euros per night.

Balearic Islands is in the top of the most attractive communities for luxury holiday rentals and represents a great investment opportunity. If you have a property that you are not taking advantage of, if you need help in the management, if you have doubts about the current legislation, contact us, we are specialists in the management of holiday homes and we are in the Balearic Islands.