Kronos Real Estate Group now boasts a proven track record in the real estate sector and has been operating across the Iberian Peninsula for more than a decade. During this time, what changes have you seen in the luxury real estate market? And, what would you say are the main trends? What differences do you notice in luxury market demand across the various regiones where Kronos Real Estate Group is based?
The real luxury is the time we invest in each project. This is the secret to all our residential developments in Spain and Portugal, each one carefully curated to seamlessly fuse design, sustainability and technology.
In our view, the entire concept of luxury is being reshaped. Premium quality finishes is no longer enough, luxury means creating community. Offering quality of life, an architectural legacy and sustainable urban design. People are more socially and environmentally aware than ever before when it comes to buying or renting. We look to create refreshing green areas and spaces designed to enhance user well-being.
Luxury means going above and beyond people’s expectations. There’s nothing more unique than creativity. We started to incorporate works of art into our projects, and we grew evermore popular in the residential sector with Kronos as the main operator.
If we just look at Spain, according to the latest estimates by the association Círculo Fortuny, the market will see sustained growth of between +7% and +9% over the coming years, generating revenues of almost €27,000 million by the end of 2027. What do you think this growth will look like in the Spanish real estate sector?
The truth is that ever since the years leading up to the pandemic, the market has done nothing but expand and forecasts suggest that this upward trend will continue as we move forward. It is therefore a natural assumption that this increase will lead to the development of new residential projects in strategic locations, especially on the coast and in major cities such as Madrid and Barcelona. In a climate such as this, it is critical to promote unique, high-impact designs, something that we actively pursue via our collaboration with several Pritzker prize winners, prestigious interior designers and internationally-renowned artists. All without forgetting the importance of the urban planning and design. A project’s surroundings, its landscaping, the services and infrastructures it offers are all equally important in making a project premium.
The fusion of design with technology in the construction and redevelopment of luxury housing seems a natural coupling, what technological innovations do you consider essential nowadays when it comes to luxury housing? And the most state-of-the-art innovations? How have the latest technological developments impacted the design of contemporary luxury housing?
Integrating design and technology is key in our projects. Systems such as BIM allow us to work hand in hand with the architecture studios and stay on top of even the smallest of details across every stage of the project. In terms of technological innovation, from our point of view, the most important advances are new construction methods, home automation and climate control technology, as well as the introduction of new materials that minimise a property’s carbon footprint and improve its energy performance.
If we apply this to luxury housing, this not only equates to a more bespoke product, but also greater freedom to be able to offer a cutting-edge design and better quality of life.
As for sustainability, what is the luxury real estate sector doing to meet this new demand? How do you think sustainability can be incorporated into a design without compromising the design itself or the level of comfort and elegance that is expected of the luxury sector?
As I mentioned before, people are now tuned into sustainability. More and more clients are looking for an efficient home with the lowest environmental impact possible. At Kronos, we certify our projects under the BREEAM standard, one of the highest international sustainability standards for the construction industry. We also take great pride in the landscaping aspect of our projects, working to conserve as much of the original plant life as possible, while also taking care to plant native, drought-tolerant species.
The greats of architecture have always been meticulous in their analysis of any local constraints, investing time in looking for traditional construction solutions and any locally-sourced materials that could be incorporated into their designs. The only thing that is different now is that technology has multiplied the number of possible solutions. Never has it been so easy to combine sustainability, design and well-being.
As a result of the pandemic, all across the world people have radically changed the way in which they travel and commute, what are the new must-haves of luxury designs? What elements must they incorporate to ensure they cater for these new ways of living and working? And how important is bespoke design in the luxury sector to ensure that each property offers exactly what the clients are looking for?
Insofar as the trends that emerged as a result of the pandemic, the luxury sector has perhaps been less affected in this regard. In an average home you need multipurpose spaces where people can work, do sport, and relax and enjoy their leisure time. There is also a need for more outdoor space and greater privacy. However, it was already standard practice for a luxury home to offer all these spaces. It was completely normal to include a small home gym, an office or study, while a large outdoor terrace or garden complete with swimming pool was almost a must. However, the bespoke aspect is a new idea and one that is growing ever-more popular, and fast. In fact, in our projects we have extended the range of options available for finishes, layout, and fixtures and fittings to ensure every house boasts its own unique look and feel.
To finish, what does the future look like for the luxury real estate sector? What will Kronos Real Estate Group’s star product look like in 15 or 20 years?
Kronos Real Estate Group’s star product in 15 or 20 years time already exists: it’s the neighbourhoods we build. Between now and then, communities will be reaping the benefits of our model of responsible urban design. Our environmentally sustainable developments will be socially dynamic hubs that are fully integrated into the urban fabric, while conserving their own unique identities thanks to statement architecture and art. This will be our legacy.