The prices of the luxury real estate remain high. here because

The war in Ukraine is falling like a tsunami on all economic sectors, but the prices of luxury properties remain stable. Because?

First there was Covid: it seemed on the verge of bringing the luxury real estate market to its knees and instead it turned into an incredible driving force for the market. The need to stay indoors has prompted many wealthy people to choose luxury homes to make the sanitary version of house arrest more enjoyable.
And now? The Russian-Ukrainian war tears apart other unthinkable scenarios. After the shock of the first few weeks and the oligarchs' departure from the Real Estate market, everyone could have thought the worst. On the other hand, the luxury market shows no signs of abating.

The current status quo, despite the Russian-Ukrainian conflict
On the one hand, the exclusion of Russian buyers was quickly absorbed by new protagonists of luxury, especially Arabs, who began to take a spasmodic interest in luxury properties in Italy, as shown by Luxforsale data. On the other hand, the prices of luxury properties do not tend to decrease, indeed in some large cities (Milan in the first place, Florence follows closely) they continue their rise.
The reasons for this tendency that scoffs at war? They are different. Surely the tax incentives for redevelopment and energy efficiency can be an answer, but by no means exhaustive to explain the solidity of the luxury property market. There are other reasons that allow luxury real estate to continue to grow.

This is why luxury real estate keeps prices stable
According to data extrapolated from Luxforsale research, there are two elements that prove to be fundamental in the current luxury real estate market. The first: the need to obtain better conditions in one's home. We can define it as the long wave of Covid, but more and more buyers want a much more comfortable home that can be lived in for many hours and for different needs (from work to hospitality). A spacious terrace, for example, is one of the must-haves of research in big cities, while those who live outside the city aspire to large outdoor green spaces.
The second element is the return to the investment idea. In times of crisis, you know, there is no safe haven with the charm of a property, even better if it is a luxury one. Here then is that many investors with a substantial portfolio are looking for prestigious homes, to be able to buy and budget. With only one certainty: the luxury real estate market is reluctant to devalue. Even in times of conflict.