Luxury housing in Madrid

PUBLISHED ON

Abril 03, 2024

CATEGORY

Real Estate

The boom in luxury housing in Madrid has led to a large number of foreign nationals wanting to invest their money in the capital. Experts indicate that currently more than 30% of all demand for luxury real estate comes from abroad. This figure contrasts with those collected ten years ago, when non-residents barely constituted a testimonial percentage in terms of the acquisition of exclusive homes.

Foreign investors have continued to increase their buying and selling operations since the end of the pandemic Colombia, Mexico and Peru are the Latin American countries that invest the most in this type of real estate market. These nationalities have taken over from Venezuelan investors, who once paved the way by spotting Madrid's potential. Moreover, the Spanish capital offers investors lower prices than Paris or London. In addition, Latin American citizens find a lifestyle in the city that is closer to their own. In short, foreigners are not only buying property as an investment, but with the intention of living there in the future.

The rise of luxury housing in Madrid has continued to grow over the last 3 years; not even the uncertainty of the coronavirus has diminished the desire to acquire luxury properties.

The most sought-after areas for this type of transaction are the Salamanca neighbourhood, Recoletos, Castellana, Los Jerónimos and Almagro. Foreign clients tend to come to these neighbourhoods through some kind of purchase recommendation. However, there are other areas such as El Viso or Nueva España that have properties with the required characteristics, but are not as well known to the international client.

Madrid is a very attractive destination for investment in the residential real estate sector. The Spanish capital is a modern urban centre with a cosmopolitan character. Factors such as its international connections or its growing modernisation in terms of sustainable mobility and energy efficiency increase this interest.