Madrid is at the head of luxury real estate

Madrid is at the head of luxury real estate

In 2019, Madrid will be one of the most demanded cities regarding luxury real estate. This is clearly stated by a recent report which shows that Madrid is one of the main high standing real estate destinations in 2019. If we analyse the preferences of wealthy people, then we can see that Madrid has undergone a sharp increase in demand. And what is more, at the end of 2019, Madrid will be placed third regarding luxury real estate destinations. We must also bear in mind that in 2018, Madrid was positioned tenth in this same ranking. Furthermore, these facts and figures show a steep rise in only twelve months. If we consider that in 2017, Madrid was placed fifteenth then we can see the significant progression that has taken place in Madrid as an exclusive real estate destination. It strikes us that, in this report, Madrid is only surpassed by two Portuguese cities: Lisbon and Oporto. Over the last few years, important celebrities from all over the world have chosen these two Portuguese cities as their residential destination. They were attracted by the climate, the quality of life and the tax benefits. However, Madrid follows closely. It is clear that in 2019 the tendency for luxury real estate is aimed at the Iberian Peninsula.

Madrid is at the head of luxury real estate

A LEAP IN QUALITY

In this blog we recently wrote about the most sought after areas in Madrid. We stated it was predicted that the market would revitalise in the second term of 2019. There is an important fact to be weighed in favour of Madrid in relation to other competitors: the noticeably lower prices of exclusive property. However, this does not mean that in specific areas the prices can even reach up to 18.000€,  as we mentioned in that article. It is obvious that, apart from the price, the high standing property investor regards Madrid one of the most appealing and attractive real estate destinations. Madrid is a cosmopolitan, modern and XXI century city which is quite up to the standard of other capitals. Madrid is, between equals, one of the main destinations in the world in investment in prime real estate. In Spain, Madrid stands out regarding top quality real estate. We must point out that Barcelona is going through political uncertainty. This fact has benefitted luxury real estate in Madrid because the investors, who previously favoured Barcelona, have eventually chosen the security that Madrid offers. Among these investors, we must talk about the extremely wealthy ones who have more than 50 million euros. These have, en masse, made the choice of Madrid to the detriment of Barcelona which generates mistrust due to the political climate.

Madrid is at the head of luxury real estate

BREXIT BOOSTS OTHER MARKETS

London is undergoing a similar situation to Barcelona but in a more increased way. All the tensions that Brexit has generated have significantly affected luxury real estate investors. There is even talk of a 30% drop in 2017 and a 10% in 2018. In this respect, Madrid is affected positively as many investors have dismissed London due to Brexit. Other European cities have also benefitted such as Paris, Oporto or Lisbon.

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