#Madrid. Residential real estate in Spain. How did Madrid become a sale leader of residential real estate in Europe?
Spain has always been one of the leading countries in terms of residential real estate sales. At the beginning of 2019, Madrid became the leader in terms of residential real estate sales, which holds these positions up to the present day. Madrid ranks first not only among the cities of Spain but also among all the cities in the European Union!
Over the past three years, Madrid has become a key economic and tourist center in Europe. More than seven million tourists visit it every year and Madrid's Barajas International Airport receives direct flights from 203 airports around the world. And if until 2019 the main areas of Madrid where residential real estate was sold best were the northern areas of the city, such as: Salamanca, Chamberi, Chamartin and El Viso then since 2019 residential real estate sales have gradually moved to the central areas of the city, such as: Sol and Embajadores.
Madrid residential real estate is very popular among citizens of Spanish-speaking countries of Latin America; they make up more than 25% of buyers. According to Chameleon Real Estate forecasts, the residential property market of Madrid in 2021 will continue to grow on average by 5-7%, which invariably will lead to the rise of residential property prices, 6-8% of that in 2020.
If you are interested in buying a residential property in Spain, you can always contact our support service by email: [email protected] or write to the head of the Chameleon Real Estate department on WhatsApp at +7 (978) 660-75-75.
This article was prepared by Elena Kravchenko, Head of Chameleon Real Estate. Follow our articles on Chameleon Real Estate Journal.