The world may be shrinking, but the international luxury market is ever-expanding. While foreign buyers continue to invest in high-end properties in New York, Miami, and Los Angeles, American buyers continue discovering luxury markets around the globe. Fueled by maturing economies, rich cultures, and spectacular environments, there are diverse international frontiers for luxury buyers.

In major cities throughout Europe, Asia, and the Americas, there are robust luxury real estate markets, even in places where free enterprise has not always been a foundational principle. Bob Hurwitz, founder and CEO of Hurwitz James Company, a global luxury real estate firm headquartered in Beverly Hills. He estimates that more than 60 percent of wealthy Americans already own foreign properties. Hurwitz, who represents both American and foreign buyers, maintains that investment motivations are diverse and transcend economics. “For properties that aren’t priced in the stratosphere, it’s often a combination of the desire to invest in a different country and enjoy an appealing lifestyle, usually at a significant discount to something similar in the States,” he says.

Hurwitz explains that most ultra-wealthy individuals still work, and being able to do so remotely makes living overseas a seamless proposition. “For pricy trophy properties, there’s yet another dynamic and that’s the cachet of owning a showplace as one of your assets,” says Hurwitz. Among his company’s current listings — one truly representative of that rarefied real estate category. A sprawling Swiss castle near Lake Geneva, offered at approximately $58.5 million. “It’s an amazing estate, once owned by the Italian royal family and built in 1625,” reports Hurwitz.

Paris’ combination of world-class architecture and refined culture can result in staggering real estate prices. As a result, some buyers — 12,000 Americans moved to France in 2023. Lorraine Gemigniani of San Francisco Bay Area-based Berkshire Hathaway HomeServices Drysdale Properties now resides in the Loire Valley and specializes in luxury French real estate. Illustrating the nation’s affordability (outside of Paris), the agent jests, “You can buy a petit château in the Loire Valley for $1 million, but could hardly find a carport for that amount in Tiburon [Marin County, California].”

Images Courtesy Of Four Seasons Private Residences DIFC and H&H Development

Buyers from the Middle East and Europe continue to fuel a boom in central Dubai. De Forton reports luxury buyers are also drawn to a resort lifestyle in outlying Ras Al-Khaimah. A 6,700-square-foot contemporary beachfront villa on Dubai’s Palm Jumeirah is currently offered by Christie’s for about $12.3 million. While forthcoming residences at Four Seasons Private Residences at Dubai International Financial Centre include an extraordinary penthouse priced at about $57.2 million. While branded residences bearing the names of luxury hospitality, fashion, or automotive brands are particularly popular in Dubai. De Forton reports the trend is expanding to emerging markets such as Bangkok, Thailand.

Courtesy Of Hurwitz James Company

Lisbon was long overlooked in favor of more iconic European cities, but that has changed, with American and European expats now flocking to Portugal. “Lisbon is really at the apex in terms of appeal to foreign buyers, Americans in particular,” says Hurwitz. Despite the expiration of some favorable tax incentives for foreigners, de Forton confirms Lisbon remains in demand. “Because of the [shared] language, Portugal has always been popular with Brazilians. The luxury market has been strong even though the broad market was softer in 2023,” she advises. Concurring is Carlos Mangas, business manager at Berkshire Hathaway HomeServices Atlantic Portugal, who says. “Luxury residences are selling very fast, and if Lisbon had a greater availability of new developments, they’d sell out before construction was finished.”

Mangas suggests affluent Brazilians also appreciate the safety of Lisbon and its versatility. “American buyers’ perception of Portugal is of castles and ancient villages, so they’re amazed when I show them modern penthouses or homes,” he says. Not far from the capital, the oceanfront communities of Estoril and Cascais are also experiencing a robust luxury market. With sleek contemporary architecture, this “Portuguese Riviera” is somewhat reminiscent of Malibu, California. Mangas reports that Brazilians are primarily driving that market. But proffers, “Once Americans discover the area, it won’t stop.”

Courtesy Of Hurwitz James Company

According to de Forton, the high-priced London market is rebounding, and the Spanish capital is trending. “Madrid is one of the most attractive markets at the moment, although prices are increasing and there’s not much inventory,” she says. In Marbella, on Spain’s fashionable Costa del Sol, DDRE Global — the firm founded by Daniel Daggers. Netflix’s “Buying London” fame — offers a nine-bedroom villa for approximately $25.65 million.

According to leading universities and trade associations, artificial intelligence (AI) is poised to transform the real estate industry. Its potential value is particularly pronounced in international transactions. Through analyzing global trends, navigating bureaucracies or languages, and negotiating contract terms. Practical applications for overseas house-hunting are emphasized by Dana Bina, chief technology officer at Christie’s International Real Estate. “International real estate transactions benefit from generative AI by allowing consumers to determine possibilities for particular spaces using product-visualization tools,” she says.