In 2025, the luxury real estate market in Spain he has lived a silent movement but constant. Madrid and Barcelona have become the main destinations for investments of the great fortunes from the US and Mexico, which are buying luxury homes in some of the most exclusive urban areas of the main capitals.
The data of the General Council of Notaries confirm a clear increase in foreign buyers in high-value transactions, especially in neighborhoods where the price per square meter already moves above 10,000 euros per square meter.
The new buyers. The statistics of the General Council of Notaries show that in 2025 the purchase and sale of luxury homes by foreigners maintains considerable weight in Spain.
According what was published According to Idealista, in Madrid, operations carried out by foreigners already represent around a fifth (21%) of sales in prime areas. In Barcelona, this percentage is somewhat higher, especially in districts where luxury housing concentrates a large part of the available supply. Within this group, buyers of American and Mexican nationality stand out for the average amount of the operations, well above the market average.
Specific neighborhoods and heart-stopping prices. He interest of these buyers concentrates on very specific enclaves. In the center of Madrid, neighborhoods such as Salamanca, Recoletos, El Viso or certain areas of Chamberí accumulate a good part of the operations carried out by large international fortunes. These are areas where the price per square meter easily exceeds 10,000 euros and where it is common for the price of housing to be above one million euros.
In Barcelona, the pattern is similar. Districts such as Sarrià-Sant Gervasi, Pedralbes or Ciutat Vella attract foreign buyers looking for unique, rehabilitated or properties with high heritage value.
Why the US and Mexico are looking at Spain. Behind this movement there are several factors that reinforce each other. On the one hand, Spain offers legal stability, property security and a relatively predictable tax framework for large assets. On the other hand, Madrid and Barcelona function as international business hubs well connected to America, with frequent direct flights that keep them connected to Miami, Mexico or New York.
In the case of Mexico, the cultural and linguistic link also plays a relevant role, while American buyers especially value the relationship between price, quality of life and services compared to other large European cities. In this way, they use their home in Spain as a way to improve your quality of life or as a gateway to your businesses in Europe.
They can pay more, so prices skyrocket. The impact of this international demand can be seen in prices. According to data According to Idealista, the average value of housing in Spain has risen around 7.9% year-on-year in 2025, with Madrid and Barcelona leading the rising prices. In the luxury segment, the pressure is even greater due to the scarcity of properties of this type and its high demand.
Although these purchases do not compete directly with affordable housing, they do contribute to reinforcing the dynamic of rising prices in the most sought-after areas. The result is a market in which a crowding out effect occurs in which local rich are displaced to other neighborhoods by wealthier millionaires. In this way, Madrid and Barcelona are consolidated as attractive places for millionaires to have their second residence, especially in a context of international uncertainty.
In Xataka | How much money do you need to be among the richest 1% in Spain
Image | Unsplash (Eddie Pipocas)
GIPHY App Key not set. Please check settings