Savills releases a new report on the world’s top locations for buying a second home

On October 6, 2022 | Time 14:18

Written by: Ashraf Al-Adi

Leading real estate firm launches first index to explore yoga scene in second home destinations

Savills has announced the release of a new report highlighting the growing interest in hybrid living spaces and the trend of buyers looking for a second home away from the hustle and bustle of cities. Today’s flexible nature of work allows clients to rely more on a second home throughout the year, no longer just for weekends or holidays.

Savills’ research into top second home locations shows that buyers looking to improve their lifestyle are increasingly demanding more indoor and outdoor spaces, with a focus on health and wellness facilities and internet connectivity. All these homes feature recreational facilities and are close to some of the world’s most prominent major cities.

In the table below, Savills Research highlights three second home locations that offer easy access to major cities, as ranked by the company’s housing offerings, health and wellness facilities and internet connectivity services:

City The most prominent second homes Average price of houses with three bedrooms or more in US dollars*
New York Palm Beach 7,590,000 USD
Hamptons 2,730,000 USD
Bahamas 4,950,000 USD
Los Angeles napa 2,950,000 USD
Puerto Vallarta 1850,000 USD
Palm Springs 1,490,000 USD
Hong Kong Phuket 1,700,000 USD
Bali 153,000 USD
Sanya 2,150,000 USD
Shanghai Hangzhou 194,000 USD
Sanya 2,150,000 USD
soju 172,000 USD
Singapore Bali 153,000 USD
Krabi 960,000 USD
Bintan 1030,000 USD
Dubai Costa del Sol 186,000 USD
the moldive islands 3,380,000 USD
Seychelles 5.66 million US dollars
London French Riviera 2720000 USD
sweeping machine 124,000 USD
Cotswolds 1,180,000 USD
Paris French Riviera 2720000 USD
cap ferret 3,090,000 USD
meribel 2,370,000 USD
Berlin Greek islands 1,340,000 USD
Majorca 2,340,000 USD
Lübeck 970,000 USD
Milan Tuscany 1,490,000 USD
Sardinia 1,130,000 USD
Liguria 1,150,000 USD
Madrid Galicia 640,000 USD
Balearic Islands 2,340,000 USD
Sotogrande 200,000 USD
Geneva French Riviera 2720000 USD
Liguria 1,150,000 USD
Verbier 9.68 million US dollars

*Average prices are from a set of listings for homes with three or more bedrooms in each location

Source: Savills Research

The report categorizes the prime sites as homes that offer enough space for the establishment of gyms, golf and tennis courts, and are close to health resorts. Air quality is also a key component of wellness homes, along with the availability of internet connection and the proximity of the home to a major global city.

Comment on this topic, says Kelsey Sellers, associate in global research at Savills: “It is now necessary to have well-being facilities, amenities and luxuries on the premises of second homes, together with sun, sea and fresh air, with the increasing interest in them at the moment. We expect some second home markets to grow at the local and regional level, coupled with the continued desire of buyers to acquire homes close to their homes in cities, due to the ease of transportation by train or car.”

The French Riviera tops the list of global destinations with three cities, as it has maintained its position among buyers for more than 100 years thanks to its long-established real estate market and the provision of many wellness activities and strong means of communication.

Spain is also a major market for second homes from buyers from all over Europe. While Sotogrande, Costa del Sol and the Balearic Islands are the main destinations for buyers from Germany, Nordic countries and Dubai. House prices on the Costa del Sol and the Balearic Islands have risen by more than 10% in the past year, with buyers bidding higher prices for the limited number of residential properties available.

Dubai is characterized by, one better the cities performance. The Savills index of luxury residential destinations in the world, with a strategic location that gives it access to the second home markets in Asia, Africa and Europe. The Maldives, the Seychelles and the Costa del Sol in Spain are the top three places to buy a second home for Dubai residents.

And for his part, Swabnil Pillai, director of Middle East research at Savills, said:: “Dubai is unique in a strategic geographic location connecting east to west, offering its residents a variety of second home options. Dubai International Airport is also one of the busiest airports in the world, which ensures that people move smoothly between their different places of residence.”

Savills Yoga Pointer

High on the list of wellness experiences is yoga, a sport practiced by nearly 300 million people in a growing industry currently valued at nearly $80 billion.

In its analysis of the locations of second homes with wellness facilities, Savills has released the first yoga index intended for people looking for the best places to relax and unwind. The index measures the number of yoga studios and schools, quality of life, air and access to sports essentials such as high-quality clothing and inexpensive healthy shakes. The index is used to identify the most desirable locations for wellness-focused shoppers or beginners.

Bali and Phuket lead the yoga index with their focus on the sport and relaxation in nature, both of which have several yoga studios offering courses at low cost. Both destinations offer low-cost, high-quality yoga facilities. Three European locations topped the list of the top five destinations, namely Liguria, Galicia and Costa del Sol, which were listed as the preferred second home destination for Dubai residents.

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