Nina Chausow
TOP range homes are flying off the property market in Madrid.
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.
Monaco or Madrid? Such a difficult choice lol.
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.
Be careful Bryan and Fred for a reaction from QuidSquibDragonEnglish etc etc who has never owned in Spain nor knows the CDS, he doesn’t like to hear any warnings by those in the know.