Luxury in Portugal

Today we can say that there is a true luxury segment in Portugal, which extends to more and more businesses, from automobiles to clothing, restaurants, hotels, furniture, decor, wines and, of course, real estate.

In all these businesses and sectors, Luxury continues to be a niche that represents between 3% and 5% of the total business, characterized by the extreme demands that customers place on the products or services provided by companies, thus making the entire business model more complex.

Of the many definitions and opinions, luxury is something rare and unique, and where what is purchased, beyond the product or service, are above all emotions and feelings similar to those experienced when appreciating a magnificent landscape, enjoying a work of art, or enjoying a unique experience; it is something that reflects a lifestyle . In short, pleasure and emotion are the drivers of selection and acquisition.

This emotional nature means that, in this segment, prices can increase by between 15 and 30 times more than “similar” products in lower market segments, a characteristic of this luxury segment that should not be transposed to other market segments.

In the specific case of residential properties, luxury goes beyond construction features, relating primarily to emotional characteristics. In this regard, we can distinguish two types of properties: those that meet basic family needs, such as protection, space, and security, and those that, in addition to these, meet emotional needs, such as a specific architectural style, an exclusive location, a stunning view, proximity to the sea, resorts , or a golf club... which, taken together, are referred to as amenities .

Finally, it is important to highlight that Luxury is also structured on a historical legacy of credibility and notoriety that the brands represent and that is consolidated into an essential concept in Luxury, which we call heritage .

Entrepreneur and Manager, graduated from Católica Business School / Postgraduate Porto Business School and specialist in Luxury