Paloma Pérez Bravo, CEO of Residential at Lucas Fox, speaks exclusively to idealista/news about the latest trends shaping Spain’s luxury property market. She believes the sector is undergoing a profound evolution: “Spain has transformed from a sun-and-sea getaway into a premier luxury destination,” she explains. Today, high-end buyers are no longer guided solely by location or square footage — their focus is on lifestyle, amenities, and the overall experience a home provides. This new wave of buyers includes dynamic businesswomen, young entrepreneurs, and international investors from the United States, Asia, and Eastern Europe.
Taking the reins at Lucas Fox
Having recently assumed the role of CEO of Residential, Pérez Bravo embraces the challenge with genuine enthusiasm. “There is a clear opportunity in the market right now, both in the luxury and mid-range segments. No other company has a truly pan-European presence while offering a seamless, end-to-end service.”
Her vision for Lucas Fox is ambitious: “We aim to cover the entire value chain — from capital markets, investment, and advisory services, to sourcing land or buildings, supporting development, design, and pricing, guided by our deep understanding of buyer demand. Then we manage marketing and rental. No one else offers such a comprehensive service, and demand is only growing. Beyond that, we are committed to professionalising the sector, raising standards in Spain, which is now a genuine luxury destination. We have ambitious growth plans and are thrilled about this new chapter.”
Where luxury thrives
Currently, Lucas Fox operates in Barcelona, Madrid, and the Costa del Sol. While the company maintains a broad presence, Pérez Bravo highlights a clear focus on Spain’s established luxury markets: “Catalonia, the Balearics, Madrid, the Costa Blanca, and the Costa del Sol — these are where our efforts are concentrated.”
Why luxury is resilient
Spain’s luxury residential market has shown remarkable resilience over recent years. Pérez Bravo attributes this to buyer behaviour: “Premium buyers typically have an investor mindset. When the market dips, they buy; when it rises, they profit. They are not simply looking for a home to live in, but a long-term investment. This makes the luxury segment far more stable than others.”
Emerging luxury hotspots
With traditional luxury areas reaching saturation, new opportunities are emerging in adjacent zones. In Madrid, the city’s northern districts are evolving into a luxury hub, with 15,000 homes, hotels, and established towers. On the Costa del Sol, Marbella’s saturation is driving interest towards Estepona, Málaga, Cádiz, and even Granada. Similar shifts are occurring along the Costa Blanca and in the Balearics, where Menorca is seeing increased demand. In Catalonia, the “oil stain” of luxury is spreading beyond traditional hotspots.
A new profile of international buyers
International buyers remain a major force, but their profile has diversified since the pandemic. “Previously, it was a fairly standard mix: Northern European or UK businessmen buying coastal properties. Today, we see far greater diversity: buyers from the United States, Latin America, Asia, Central and Eastern Europe, and even Australia,” Pérez Bravo notes.
She also highlights new buyer types: entrepreneurial businesswomen, young professionals drawn by Spain’s lifestyle, and affluent seniors seeking premium services, connectivity, and access to top healthcare.
Luxury as a safe haven
In times of global economic uncertainty, luxury residential continues to be a reliable haven. “It is an appreciating asset that can also generate rental income. Luxury homes have historically outperformed other assets during downturns. Right now, demand is strong, yet supply remains limited across Spain,” she says.
Beyond location: lifestyle and experience
For modern luxury buyers, lifestyle now outweighs traditional markers such as location or square footage. “Especially younger buyers are looking for amenities: co-working spaces, scenic walking areas, and strong connectivity. It’s no longer about being in the ‘trendy spot,’ but in an environment that complements their way of life. Price per square metre is no longer the sole reference; real value comes from the experiences a home offers.”
Personalised design and turnkey living
Design and interior decoration are now central to the luxury offering. “We are in the era of personalisation,” Pérez Bravo explains. “Buyers want their home to reflect their lifestyle. This drives the turnkey model: properties customised for each client, from family and pet arrangements to materials and layout. Developers understand that every property must be unique. The era of ‘200 identical homes’ is long gone.”
Sustainability and smart technology
Sustainability and technology are now defining features in luxury real estate. “Sustainability is both a legal requirement and a priority for buyers who value environmental respect, clean air, and security. Energy due diligence is now standard, and luxury buyers are willing to pay a premium for eco-conscious homes,” she observes.
“Smart technology trends focus on homes that adapt to users’ lifestyles: blinds rise automatically, temperatures adjust before arrival, and systems simulate occupancy when away. Artificial intelligence is transforming comfort and security in ways we are only beginning to see.”
Safety in urban markets
Addressing safety concerns in urban locations, Pérez Bravo reassures: “Not at all. What matters is that the property is equipped with the right security measures, which these homes are. If a buyer’s lifestyle leads them to Barcelona, the city continues to captivate discerning purchasers.”
Looking to the future
Pérez Bravo is optimistic about the medium-term outlook: “Spain is now a luxury destination. The country has moved beyond the old ‘PIGS’ narrative to become a recognised player on the international luxury map. The next step is consolidation: professionalising the market, stabilising prices, and enhancing advisory services. We are entering a phase of maturity, with a more stable sector less influenced by market swings. At Lucas Fox, we focus on advisory first, transactions second, fostering long-term relationships and delivering genuine value.”
Integration with Dils
The integration of Lucas Fox with Dils, leader in real estate services, is progressing smoothly, even culturally, often the most challenging aspect of mergers. “Both companies share similar histories and founder visions, which has made the process seamless. We complement each other perfectly: Dils excels in capital markets and sales, Lucas Fox in residential. Together, we are positioning ourselves as an almost ideal company.”
Dils aims to establish itself as a European player, and Lucas Fox hopes to expand its residential division across the continent. “Lucas Fox remains a strong brand in luxury real estate, so we will retain it for now, with potential for expansion into other European markets,” she concludes.