A large home with white columns and a gray facade on the top floor sits next to a lawn with a swimming pool and leafy trees.
Luxury Real Estate Property Market Insights

Home in the Sun: Luxury Market Trends for Summer 2024 and beyond

Whether it’s the perfect vacation home or a place to put down permanent roots, a property in sunnier climates should shine both inside and out, with the design, decor, and location reflecting the wants and needs of potential residents…

Be it “home sweet home,” or “home is where the heart is,” happiness is found in the ideal residence. Add in sunshine—it is always summer somewhere—and it becomes the perfect abode.

For Nickey Maxey, the perfect summer residence should be a harmonious blend of indoor and outdoor living, with a lot of natural light coming through large windows that frame breathtaking water views. The South Carolina-based realtor at Maxey Blackstream Christie’s International Real Estate says these ideal ingredients are found at a seven-acre (2.8 ha) home on Hilton Head (see banner image), on the market for $12.5 million.

Describing the house as an entertainer’s dream, with a summer kitchen, infinity-edge pool, and spa, it is, he says, “the perfect space to relax and enjoy summer. The home grants quick access to the beach and has a private marina for boating—two essentials for the ultimate summer retreat.”

The ocean fringes a lush green island with a private compound of six residential homes, lawns, a swimming pool and a tennis court.
This villa on Cavallo Island close to Sardinia and Corsica is a perfectly private oasis, and is on the market with Corse Prestige Immobilier Christie’s International Real Estate.

The right mix of practicality and aesthetics—with air conditioning, energy-efficient appliances, and well-ventilated spaces to combat the heat—makes the ideal summer base for Ivan Kovačić, managing partner, Remington Realty Christie’s International Real Estate in Croatia. Add in outdoor living areas, shaded features, and a swimming pool to make “a haven of summer relaxation, transforming the home into a comfortable retreat.”

Greenery plays a vital role, strategically placed for natural cooling and shade, says Kovačić. “This includes trees, climbing vines, and lush gardens, contributing to both aesthetics and fresher air. But eco-friendly choices, such as native plants and low-maintenance solutions, allow for sustainability, with greenery acting as a natural screen for added privacy.”

Home: Design Matters

Those in perpetual sunny spots, such as Malta, have homes built to suit the 365-days-a-year warm climate. The island has almost year-round Mediterranean conditions, with sea temperatures higher than in any other part of Europe, meaning Maltese properties include design features that capture “the essence of Mediterranean living,” according to Miguel Bonello, managing director, Oyster Christie’s International Real Estate.

Limestone, widely available in Malta, is used liberally. “It not only imparts a golden hue to the architecture but also helps regulate indoor temperatures, giving a cool and comfortable environment during the hot summer months,” says Bonello.

Modern villas or apartments usually have large windows and open layouts that flow between indoor and outdoor spaces, with natural ventilation and sunlight, showcasing the panoramic views of the Mediterranean.

Just under 1,000 miles (1,609 km) from Malta, Corsica is all about waterfront pieds dans l’eau (literally, feet in the water) properties, says Emmanuel Castellani, director, Corse Prestige Immobilier Christie’s International Real Estate. The best are close enough to hear the sea and a short walk through the garden before arriving at the clear Mediterranean waters.

He adds: “A natural-rock sea-pool formation by the property makes people smile. Color-wise, homes sport simple pastel tones and whitewashed walls that contrast with the azure blue of the sea.”

A vast deck at a home in Malta with two swimming pools and lots of loungers looks out over the ocean
Stylish Tigné Point, located close to the ocean, is known as Malta’s most desirable neighborhood, and is represented by Oyster Christie’s International Real Estate.

Modern essentials such as air conditioning are commonplace in most buildings except for those needing an overhaul, where the sea breeze or thick green maquis (local vegetation) are traditionally used to keep cool in the summer heat.

Corse Prestige recently sold a smart home with a cooling system that harnessed water deep beneath the property filtered through the rocks—environmentally conscious and effective.

“We have seen that a good design or redesign of waterfront properties here can allow for the winds to be somewhat harnessed to offer comforting breezes to the most important parts of the properties in summer,” says Castellani.

Where’s Sizzling?

The main summer hotspot in South Carolina is the community of Sea Pines, which features the Harbor Town Yacht Basin with its restaurants, shopping, live entertainment, and red-and-white striped lighthouse. It also has views of Daufuskie Island, which can only be reached by boat or ferry. “Daufuskie takes you back in time, where its main source of transportation is golf carts and there are miles of quiet beaches,” says Maxey.

Malta boasts a mixture of modern seafront apartments, countryside farmhouses, and contemporary residential villas. For history, head to Mdina, with its medieval architecture and cobblestone streets, or the seaside village of Marsaxlokk, dotted with colorful fishing boats and seafood markets. But a jewel in the crown, says Bonello, is Tigné Point. “It features stylish apartments and a bustling promenade. Its contemporary design integrates modern living with the historic charm of the area.”

Croatian hotspots are the classics of Dubrovnik and Split, with also Hvar, and the Opatija Riviera, which has one of the most premium real estate markets in Croatia, although it’s more of a spring and autumn destination than summer, says Kovačić

Who’s Buying?

Last year, just under a third of all property purchases in Croatia were by foreign investors, and on the coastal second-home market, the percentage is probably higher, says Kovačić.

“Germans are the biggest buyers, followed by Slovenians and Austrians. The number of buyers outside the E.U. is growing, but they are still much smaller in number than buyers from the E.U.”

Second-home buyers see it as a long-term investment and hope to benefit from the home personally and for rental income.

The number of buyers outside the E.U. is growing—Ivan Kovačić

Investors from European locations and beyond, particularly China, the U.S., and U.K., view Malta’s stable real-estate market, strategic location, European residency schemes, and favorable tax incentives as ideal when buying, says Bonello. The buy-to-let market is also thriving, with investors capitalizing on the strong demand for rental properties, especially in popular tourist areas.

Bonello continues: “The type of buyer influences the property preferences, reflecting a dynamic and evolving luxury real estate landscape that caters to an array of tastes and lifestyle choices.”

In South Carolina, Maxey sees a combination of second-home buyers, retirees, and those seeking family homes who usually choose a neighborhood that doesn’t allow short-term rentals and is all residential. And those wanting to buy a second home will use it for the majority of the year, but put it on the rental market when not there, says Maxey. “They tend to choose a neighborhood close to the beach, that has a great rental history,” he explains.

Ready to claim your perfect summer home? Discover a portfolio of luxury properties on the market, and read more from the Spring/Summer 2024 issue of Christie’s International Real Estate magazine here.

Banner image: Capturing the sunshine on Hilton Head.