Madrid closes 2024 consolidating its leadership position in the sale and purchase of luxury housing in Spain, reaching 25,000 euros per square meter in some developments, a trend that will surely remain stable during the first half of 2025.
Currently There are nearly 30 luxury new construction developments underway that will be delivered during the next year, and more than a hundred homes in classic buildings in the process of rehabilitation that will continue transforming the center of the capital. This is largely due to the fact that the city of Madrid has been able to attract a foreign customer profile. and, especially, to the great Latin American and American fortunes, who are betting on Spain, and on Madrid as a gateway to Europe.
“At Velzia Homes, we anticipate that the luxury real estate market in Madrid will maintain an upward trend during the first half of 2025 and, predictably, throughout the next 12 months,” says the company, which points out that “international buyers, especially coming from Mexico, stand out as the main driving force” of the luxury segment. According to the firm, they have a growing interest in emblematic areas such as Salamanca and Chamberíwhere the demand for premium properties continues to rise.
“Latin America, with countries like Venezuela and Colombia at the forefront, is setting the pace for the luxury market,” they say from Velzia. “These buyers They are especially demanding in terms of quality. They look for high-end finishes, such as natural woods, and value common areas with exclusive amenities,” they highlight.
“Many use these properties as their first residence during specific periods of the year – around two months – or as a home for their children who come to study in Spain. Others, however, look for a seasonal use with an eye on a future retirement. in the country,” he says. Chany Chapnik, Founder and CEO of Velzia Homes.
Currently, the average ticket in the luxury market at Velzia Homes is around 2.5 million euros for international clients, a figure that contrasts with the million euros handled on average by national buyers. In fact, the foreign buyer represents 80% of the market for the company, compared to the 20% corresponding to local clients, who look for more accessible options, although with a clear focus on areas with great potential for revaluation such as Chueca in the Justicia neighborhood and the entire Central district of the capital in general.
“Madrid continues to consolidate itself as one of the favorite destinations for large international fortunes”they conclude from Velzia.
#Madrid #consolidates #focus #Mexican #Venezuelan #Colombian #luxury #buyers #projects
