Madrid’s Top 5 Property Investor Hotspots 2014/2015
Madrid is not only Spain’s largest city and capital, but is the third largest metropolis in the European Union. Known throughout Europe as a place of cultural, political and economic importance, Madrid offers an enviable lifestyle, with its gorgeous architecture and wide choice of gastronomy, entertainment and luxury boutiques. Madrid’s superb transport links allow easy access direct from most important international cities and thanks to high speed trains, puts the Mediterranean coast just an hour and a half away.
The vast majority of Spanish companies and many international businesses have their headquarters in the Spanish capital and Lucas Fox offers a range of Madrid commercial properties including offices, retail units and hotels for sale. The range of residential property for sale and rent in Madrid is diverse, from traditional and contemporary city apartments in desirable areas of the city such as Barrio Salamanca, to luxurious family homes in the exclusive La Moraleja and Aravaca neighbourhoods.
Top 5 Property Investor Hotspots
1. Salamanca district: One of the most sought-after parts of central Madrid due to the lifestyle it offers. Its vast choice of international designer boutiques, trendy bars, gastronomic restaurants and proximity to the Retiro Park make it unique. Renovated historical buildings close to the park are high in demand however they are few and far between.
2. Chamberí district: Just on the other side of the famous Paseo de la Castellana from the Salamanca district is the more quieter and residential area of Chamberí. The location is beautiful with tree-lined streets full of turn of the century buildings with stunning façades. Although more residential, the area still offers a good selection of bars, restaurants and shopping.
3. Justicia district: Located just above Gran Vía and to the left of Castellana, this lively area, full of theatres, bars and restaurants, is attracting the ‘in crowd’, who want to enjoy the best the capital has to offer. The area is full of 19th Century palaces that have been converted into apartment buildings. The uniformity of architecture in this district is astonishing.
4. Chamartín district: The district of Chamartín has become popular for investors in recent years due to its proximity to the Salamanca and Castellana areas of Madrid. The buildings were typically built later on during the 60s and 70s, but offer some great potential for more modern industrial loft style projects.
5. Pozuelo/Aravaca: Only 10 minutes out of the capital’s city centre, this area attracts affluent families looking for a suburban lifestyle while maintaining easy access to the city centre. The infrastructure in Madrid is excellent with an extensive train, metro and motorway network. There is a large number of international schools in the area catering for all ages. The exclusive estates of Somosaguas and La Finca are high in demand.
“The property market in Madrid is currently very active with demand coming from international investors from different parts of the world. While foreign buyers have long snapped up luxury villas in holiday destinations such as Ibiza, Mallorca and Barcelona, this is a relatively new trend for Spain’s capital city. The Madrid residential market has, until recently, had limited exposure to international buyers with Spanish purchasers accounting for nearly all sales above €2 million. Many buyers are interested in having a second home in Madrid with also the possibility of obtaining permanent residency in the future.”
— Rod Jamieson, Director Lucas Fox Madrid