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.
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