Throughout a whole year a half -won (or won at least in 2022, last data of the INE) a salary of around 27,000 euros. It is a considerable sum. But soon it will not even pay an M2 in the Madrid residential luxury market. This is estimated by the consultant Colliers, who in A report Published this same week on the most exclusive properties of the capital, letting a striking idea: prices of the city real estate They are warming up In all segments, also the Prime.
In fact, this price increase in the central almond of Madrid is forcing which part of the demand It moves to other parts of the city, such as the moral or farm.
Probing luxury. In Your reportColliers is dedicated to putting the thermometer to the most exclusive segment of the Madrid real estate market, which is associated with labels such as Ultra High-end, High-end, premium either Branded reside. Basically these are homes that cost at least two million euros (much passes from the five) and in certain cases they are associated with a hotel brand that offers services, which gives them a plus of exclusivity.
It may seem a very limited segment, but Colliers reveals that it has some weight in the most exclusive neighborhoods of the capital. In the report its technicians claim to have identified in the Barrio de Salamanca, Chamberí, El Viso and Centro 153 homes For sale that two requirements meet: they are new construction and go from two million euros. There are more 52 that belong to the most exclusive group, the Ultra high-endwith a price per m2 that reaches 27,400 euros.
A figure: € 1,550. One of the first conclusions that the report leaves is that the residential luxury market has not remained oblivious to generalized increase of the house in Madrid. The other way around. Colliers estimates that throughout the last decade the price of M2 in the market High-end The capital has grown at a rate of € 1,550/year, which the consultant interprets as “constant and sustained growth.” In practice that means that the M2 in the most exclusive properties and floors is today much more expensive than in 2005.
And you don’t have to look so far back.
Surprises. When analyzing the luxury housing stock for sale in Madrid, the consultant has encountered two surprises: first, the number of promotions and homes has increased considerably with respect to 2023; Second, the maximum prices are today quite higher than those that were handled just two years ago. If in 2023 the maximum was in € 24,800/m2now it goes from 27,400. On the contrary, the minimum values have softened around 12%.
27,400 for an M2. What is the result of this “constant and sustained” price increase? That right now the residential square meter in the most exclusive homes for sale in neighborhoods such as Salamanca, Chamberí or Viso Ronda, on average, 18,300, with some cases in which this value has shot above € 27,400/m2. This is just that, means that can vary depending on the characteristics of the property or the concrete area of Madrid in which they are located, but still interesting.
In the Salamanca neighborhood for example Colliers analyzed 112 properties in which the average square meter cost ranged between 12,000 and 18,600 euros, which translates into homes that cost by total between 2.75 and 8.6 million. In Chamberí the photo already changes and the consultant did not register properties in which the € 17,800/m2 was exceeded.
Spraying records. They may seem high prices, but if Colliers technicians give in the nail it is likely that in a few years they will not seem so. Especially if we take into account that the market has maintained a trend over the last years that seems to direct it towards new record values. “If this evolution is maintained, we estimate that by 2030 the average price in the areas Prime of the luxury residential market could exceed the barrier of € 30,000/m2, which would represent a key milestone for this segment, “he collects The report.
“Now we are seeing projects that will probably come out at the end of the year around 25,000 euros per m2,” Luis Valdés recognizesmanaging director of the Colliers luxury housing area to the newspaper Five dayswhich remembers that there is probably some property associated with Branded reside Restored for more than € 30,000/m2. If the consultant’s forecast is finally met in a matter of only a five years, it will no longer be the exception, but “the average price in the primary areas of the residential market High-end“
What is the reason? The study is not limited to talking about prices and draws medium -term forecasts. Part of its analysis is also dedicated to probe the market, which otherwise goes online with the whole of the Madrid real estate sector. In general, idealist calculates that the residential M2 in the capital He has shot In the last decade: € 2,700/m2 in February 2015 to the more than 5,200 charged now. In the specific market case Prime However, certain trends with a key weight.
Foreigners. In Your report Colliers dedicates special attention to foreign capital, highlighting the capacity of Madrid “to attract investment, tourism and wealth.” “It has climbed positions until consolidating as the second most attractive European city for real estate investment, only surpassed by London,” The analysis stands out. “This fact shows the strength of the Madrid real estate market, driven by both international and individual investors looking for higher levels of profitability.”
Among other factors, the consultant recalls the opening of new five -star hotelsthe rise of business schools, security and a climate that can be attractive to investors from other latitudes. According to the data handled by Colliers, in 2024 about half of the homes acquired in the community were concentrated in the capital and 7% corresponds to foreign investors, especially of Latam and the US, which places Madrid, in their opinion, among the “most profitable” markets for luxury.
And the consequences? Colliers also points out some consequences of the price escalation, beyond the forecasts of new records. Specifically speaks of a “Luxury expansion” Towards other points of the city or its surroundings, promoting (or consolidating) residential areas outside the central almond.
“In areas such as the moral and farm, the demand for luxury homes has experienced remarkable growth,” he adds. “This change responds to the growing interest of Latin American buyers, which were traditionally focused on the Salamanca neighborhood but now prefer peripheral areas.” From the consultant They recognize that both areas, the moral and the farm, “are positioned as an alternative to the most central neighborhoods” and absorb a “Unstoppable demand”.
“They have no choice”. “As the price has been increasing in the center, marriages with two or three children and the need for four -room real estate have no other option to search outside the central almond, where all homes cost more than two million euros,” Luis Valdés explains to The Spain newspaper (EPE). “On the table they have to move to a residential area, for example next to the A-1 or A-6 highways, where there are schools, and so on.”
Not that they are new. The report itself recognizes that the moral for example “has historically been a consolidated and recognized luxury zone”, but it does appreciate a change: “the housing offer had become obsolete and there was a notable shortage of new construction projects.” After the development of the Urbanization of the Solana, he appreciates a turning point that adds to the promotions that are underway in the farm, with “key projects” such as Hole 15 or LGC9.
Images | Jorge Fernández Salas (UNSPLASH) and Wikipedia
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