Incredible though it may seem, luxury flats located in the Madrid Autonomous Community, have at present, the highest demand of all. According to the latest surveys, this fact has led to an increase in the price in specific areas where a few months ago it rose 8%. Another issue we must bear in mind is that they are also sold much more quickly. This piece of information relating to the first term of 2015, shows us that top-level luxury flats are going through good times.

THE MAIN DISTRICTS: JERONIMOS AND SALAMANCA

Madrid is at the head of European cities with greater annual growth in luxury flats and is only surpassed by Monaco which has a growth of 9%. However, Madrid has grown more than 5%, which is far above the European average which is less than 1%. As to the leading districts in Madrid, concerning high-standing housing, we must without doubt, highlight Jerónimos and Salamanca, each of them with a price increase of 8% and 7% respectively. Following these two areas, we have Chamberí (3% ), Justicia ( 2% ), Paseo de la Habana ( 2% ) and El Viso ( 1% ). All this information corresponds to second hand housing. On the other hand, new housing has a more moderate price increase.

According to the Ministry responsible for public works and buildings, the transactions regarding luxury housing have increased 25% in 2015, and the largest number has been carried out in the area of Salamanca, Jerónimos and Chamberí. These have amounted to 70%. The estimated price of these houses vary between one million and two million euros. The investors who purchase these houses are mainly Spanish (around 70%). The high demand of this product has led to a drop in the offer of high-standing real estate.

THEY ARE NOT ALL LUXURY HOUSES

Unfortunately, the increase in the demand for high-standing housing has led to a rise in lower quality housing. As a result, not very high standard housing in Chamberí and Salamanca have also increased its selling price. This situation has led to a slowing down in medium quality housing because the owners believe that they can sell at a high price. Nevertheless, this does not happen.