TOP range homes are flying off the property market in Madrid.

Luxury real estate
Luxury real estate

The capital’s luxury residential market is the second fastest growing market in Europe.

A year-on-year price increase of 6.2% puts Madrid’s market behind only Monaco’s (7.9%), according to Prime Global Cities Index.

Across Europe, prices have risen by 0.8% on average.

Luxury holiday rentals are also on the rise.

Home rentals between 3,000 and 8,000 are up 10% across the country.

Holidaymakers heading to the Costa Brava and Ibiza are the most likely to opt for a luxury break, while upmarket short-time rental properties stood at 80% occupancy in Spain throughout July.

Russians accounted for the largest percentage of high-value renters.

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3 COMMENTS

  1. Who is prime global?. Ha ha. Another bunch of made up figures. Monaco and Madrid in the same sentence..gulp.

    I thought the Russian market had almost collapsed, agents had zoomed in on the Chinese rescuing the dead property market. That doesn’t look very likely now.

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