Inaugural yoga index also launched to explore provisions for yogis in second home cities
Hybrid working has been widely discussed, but the trend of ‘hybrid living’ – splitting time between a city-base and a second home – is beginning to take off. Flexible work arrangements now allow users to use second homes more throughout the year rather than just a few weeks during peak holiday seasons, creating more than just a holiday home.
An increased emphasis on lifestyle has led purchasers to demand greater indoor and outdoor space as well as focus on the wellness credentials and connectivity of their homes, Savills has found in its research on top second homes locations. Each of these has a focus on wellness and is within easy access of some of the major global cities.
In the table below, Savills Research has examined three second home locations within easy access to a major world city and ranked them based on the residential offering, wellness amenities, and connectivity:
The locations that excel are the ones that offer ample gyms, high numbers of golf and tennis courts and access to spas. Air quality is also a key element in the wellness score as well as internet connectivity and the need to be close to a major world city.
“With the increased focus on personal health and wellness, second home locations have to pull double-duty by providing both the traditional sun, sea and countryside as well as the key amenities to promote personal wellness,” says Kelcie Sellers, Associate, Savills World Research. “Looking ahead, we expect some second home markets to become even more domestic and regional as buyers continue to value close proximity to their city base for easy commuting by train or by car,” she adds.
The Côte d’Azur (French Riviera) features as the top destination for three world cities. The depth of the property market, abundance of wellness activities, and strong connectivity has kept this highly international destination on buyers’ wish lists for over a century.
Spain is a key market for second homes for buyers from across Europe. Sotogrande, the wider Costa del Sol, and the Balearics are key destinations for buyers from Germany, other northern European nations, and as far afield as Dubai. Over the past 12 months, prices in the Costa del Sol and the Balearic Islands have increased more than 10%, as buyers bid up prices for the limited supply of residential property.
For Dubai, which is one of the top performers in the Savills World Cities Prime Residential Index, its strategic location gives it access to second home markets in Asia, Africa, and Europe. The top three second home locations listed for Dubai were Maldives, Seychelles, and Costa del Sol in Spain.
Swapnil Pillai, Associate Director – Middle East Research said, “With its unique and strategic geographical location, Dubai is easily accessible to the East and the West, allowing its primarily expat residents a range of options to choose from for their second homes. Further, Dubai International Airport is one of the most connected airports internationally, which ensures that people can seamlessly move between their residences located in multiple locations.”
Savills Yoga Index
Yoga has long been associated with wellness. The industry is worth some USD 80 billion and an estimated 300 million people (and counting) practice it.
In its analysis of second home locations with wellness credentials, Savills has created its inaugural Yoga Index for those looking for the ultimate retreat. By measuring the number of yoga studios and classes, quality of life, air quality and even access to the necessities such as high-quality leggings and low-cost smoothies, the index can be used to identify locations which might be most desirable for buyers looking to prioritise wellness or for those considering a new business venture.
Bali and Phuket top the index, both well-known destinations, they have built their brands on yoga retreats and getting back to nature. Each location has a high number of yoga studios where classes can be taken for relatively low costs. They also have low-cost yoga essentials and high quality of life scores. Three European locations round out the top five – Liguria, Galicia and Costa Del Sol, the last of which is listed as a second home destination for Dubai.
Savills plc is a global real estate services provider listed on the London Stock Exchange. With a presence in the Middle East for over 40 years, Savills offers an extensive range of specialist advisory, management and transactional services across the United Arab Emirates, Oman, Bahrain, Egypt and Saudi Arabia. Expertise includes property management, residential and commercial agency services, property and business assets valuation, and investment and development advisory. Originally founded in the UK in 1855, Savills has an international network of over 600 offices and associates employing 39,000 people across the Americas, UK, Europe, Asia Pacific, Africa and the Middle East.
For further information about Savills: www.savills.com
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