Global Citizen Solutions (GCS) has revealed that Europe leads the global holiday home markets for high-net-worth individuals (HNWIs), with seven out of the top ten destinations located on the continent. The briefing, titled "Best Places to Own a Holiday Home as a HNWI: The Lifestyle Lens," ranks 20 global markets based on Prime Property, Lifestyle & Desirability, and Accessibility.
The report highlights that Europe's dominance is due to its unique combination of climate, luxury infrastructure, and stable ownership conditions. Patricia Casaburi, CEO of GCS, stated, “Europe’s dominance here is structural rather than incidental. The leading markets share a rare alignment of climate, luxury infrastructure, safety, and ownership conditions that continue to make the continent appealing to lifestyle-driven buyers.”
Spain stands out with a 12.5% annual capital appreciation and the highest quality-of-life score of 84.8. Portugal's Algarve region boasts the highest annual appreciation at 17.7%. France and Italy offer cultural prestige and luxury infrastructure, with Italy providing a more affordable entry point compared to Monaco and France.
The briefing also notes a distinction between Southern European markets, which focus on lifestyle and seasonal use, and Alpine markets, which emphasise long-term value and multi-generational holdings. Austria and Switzerland are noted for their high safety scores, with Austria being more accessible due to lighter foreign ownership restrictions.
Outside Europe, the United States leads in air connectivity, whilst Japan's Niseko and New Zealand's Queenstown offer diversification and stability, respectively. The briefing underscores the importance of lifestyle and desirability for HNWIs, with second-home ownership accounting for 28% of global luxury property transactions
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