The main Portuguese city is undoubtedly the true hub of the real estate business. The growth of this market, including the exclusive niche of its real estate industry, has become increasingly visible. During Black Friday, this is a sector that accommodates many benefits ... but also challenges. Come and learn more about how Lisbon and Black Friday mark the luxury real estate industry.
Lisbon and Luxury Real Estate
Lisbon is not just the capital city of Portugal. Within the country, this city also represents a tourist hub, a business centre, a financial centre and, as such, also a city of opportunities. It is also the capital of investment.
Unquestionable praise must be given to the Lusitanian capital, which excels in tourism, magnificent landscapes, the promotion of venues and arts events, the traditional vibration of culture and the management of prolific investment and career opportunities. Its mild climate and the laid-back locals are points to emphasise, which appeal to investors and encourage them to invest in this central Portuguese city. For all these reasons (and many others), Lisbon has become, over the years, a populated place, where the growth of the real estate market in general and in a unique way, without comparison or precedent, contributes to the increase in investment by customers from the luxury sector.
Translated into concrete figures, we can see that about 89% of real estate turnover is located in the Greater Lisbon region, including the surrounding territory and places as symbolic as Cascais or Sintra. The role of luxury real estate in this volume of business can be underlined if we consider that the average price of property for sale exceeds 620 thousand euros.
Loved by the locals and sought after by foreign investors, Lisbon has remained at the centre of market attention and the representation of the growth of luxury sector commissions in the region amounts to more than 50%, considering the figures achieved since 4 years ago.
Luxury Real Estate Market on Black Friday
When we think of luxury, promotional events might not cross our mind. The figures associated with the markets and more luxurious sectors do not always seem to be able to cross with concepts and premises like those that shape the famous Black Friday.
Created in the United States of America and adopted by several European countries, however, this Black Friday seems increasingly to permeate specialised markets and become part of the identity of distinct sectors, just like the real estate industry luxury, and direct to a very specific niche.
Black Friday is no longer just a moment of indulgence. Turning away from the initial idea, where it appeared as a day to "take advantage of promotions", Black Friday would be shaped by the characteristics of each market, promoting a real time of impulse and systemic manifestation, where unique business opportunities are privileged and aimed at specific audiences.
Proof of this is the way businesses extend their offers all the way through to the weekend by offering the most expensive product brands (such as properties or cars). Some merchants even extend their offers for longer periods or even for the whole of November.
In fact, the demands for this type of event are different depending on the market and, in the case of the real estate market, especially when looking at its luxury sector, it is easy to understand the need for meeting the expectations of consumers.
Nevertheless, in Portugal and particularly in Lisbon, it is apparent that the way the event models demand, in all commercial sectors and for all types of public, the adaptation of luxury real estate to the characteristics of Black Friday is of importance.
L for Lisbon and Luxury: Challenges and Commitment to Quality
Black Friday always responds to an increase in demand from customers in the real estate market. In a large city such as Lisbon, which is under the watchful eye of domestic and foreign investors, this greater demand is even more visible and has a greater intensity.
Still, when you are part of the luxury real estate industry, the increase in demand from potential customers can not in any way be accompanied by lower quality. In fact, this is an industry where attention to the customer and full understanding of their needs and desires is central to achieving success.
So, prior to a promotional date like Black Friday, this sector has the challenge to continue, throughout the days of this event, in order to guarantee the offer of a service with the highest quality. To do this, it is essential that the best approach is taken, with all the time and energy necessary to ensure that the customer experiences a luxury service, which motivates their purchase intention, the decision making and, preferably, the conclusion of the sale.
As far as this sector is concerned, Lisbon is the ideal city to promote this sales dynamic, since it has a large number of luxury properties for sale, thus allowing an effective response by means of management and professional catalogue of real estate.
Careful management of resources, including human resources; along with the guarantee of a careful, personalised and committed service can make all the difference in times like Black Friday, when customer demand is more intense and decision making is more eminent.
Lisbon is a hot destination especially with the arrival of Black Friday and luxury real estate, which make this city an unbeatable opportunity to prove that its niche is, in fact, an adaptable venue that knows how to meet current trends. With a wide range of homes for sale and the possibility of moving into some of the most desired real estate in the country, Black Friday thus appears as good news for this sector where luxury is indeed the name of the game.