In no other city in Europe has the price of housing risen as much from one year to the next as in Madrid, according to data from Bloomberg. The information from the American media would sound even more alarming if this were not the general trend of the last year.
In Madrid, the four are also most expensive neighborhoods for renting of Spain, and there is a particularity highlighted by Bloomberg: neighborhoods linked to the working classes such as Carabanchel and Vallecas are rapidly becoming more expensive and gentrified.
Another fact that supports the interest in the capital city and its typically cheaper southern suburbs is that the vulture fund Madlyn has purchased 35 Bloc of housing in Puerta del Ángel the same fund that a decade earlier began this process in more central neighborhoods such as Malasaña or Chueca.
how much are housing prices rising in Madrid compared to the rest of Europe?
While in capitals such as Berlin and Paris the trend is the opposite, the price has fallen by 3.6% and 7.5% respectively, in Madrid it has risen by 10.6% compared to the previous year. In the monthly analysis, however, London matches us at 1.4% and Dublin far surpasses us with a 15% increase.
In this economic boom that Madrid is going through, which has also been pointed out by The Economist there are several factors that have had an influence. The increase in tourism would be one of them, but the most particular with respect to other EU cities is the arrival of large fortunes, mostly from Venezuela, Mexico and Argentina, which have “kicked out” even the local wealthy of their usual neighborhoods: Salamanca and the Viso.