Who is buying in Madrid in 2023?

In 2024, Madrid's real estate market attracts a wide range of buyers, reflecting the city's diversity and the growing appeal of the Spanish capital as a destination for living and investment. Here is an overview of the main buyer profiles in Madrid in 2024:

1. International Investors
   • Geographical Origin: International investors continue to play a major role in the Madrid real estate market. In 2024, buyers from Latin America, particularly Mexico, Colombia, and Venezuela, are especially active. Madrid is also favored by buyers from the Middle East, Asia (notably China), and certain European countries like the United Kingdom, France, and Germany.
   • Motivations: These buyers are often motivated by Spain's economic stability, high quality of life, and the growth potential of the real estate market. They primarily seek luxury properties in prestigious neighborhoods such as Salamanca, Chamberí, and Recoletos, as well as rental investment opportunities.
2. Wealthy Spaniards
   • Profile: Affluent Spanish families and successful professionals, such as entrepreneurs and senior executives, continue to buy primary and secondary residences in Madrid. These buyers favor neighborhoods offering excellent quality of life, international schools, and good connectivity with the rest of the city.
   • Preferred Neighborhoods: The neighborhoods of Salamanca, Retiro, Chamartín (especially El Viso), and Moncloa-Aravaca are particularly popular among this group due to their prestige, security, and high-quality infrastructure.
3. Young Professionals and Entrepreneurs
   • Trends: Madrid is increasingly attracting young professionals, particularly in the technology, finance, and consulting sectors. These buyers seek modern, well-connected apartments, often in neighborhoods like Malasaña, Chamberí, or Justicia, where they can enjoy a vibrant and cosmopolitan urban lifestyle.
   • Motivations: These young buyers are often drawn by Madrid's economic vitality, professional opportunities, and rich cultural offerings. They look for properties with good value for money, with a focus on proximity to workplaces and innovation hubs.
4. European Retirees
   • Origin: A growing number of European retirees, particularly from the United Kingdom, France, and Germany, are choosing Madrid to spend their retirement years.
   • Preferences: These buyers often prefer quiet but well-served neighborhoods, such as Retiro, Moncloa-Aravaca, or Chamartín, where they can enjoy Madrid's mild climate, quality medical services, and the city's cultural richness.
5. Expatriates and Diplomats
   • Profile: As a major diplomatic and international center, Madrid attracts a large number of expatriates, diplomats, and international officials. These buyers seek properties near embassies, international institutions, and bilingual or international schools for their children.
   • Preferred Neighborhoods: Salamanca, Chamberí, and La Moraleja are neighborhoods often chosen by this group for their security, prestige, and services tailored to an international clientele.
6. Institutional Investors
   • Objectives: In 2024, institutional investors (investment funds, REITs, etc.) continue to focus on Madrid, seeing the city as an attractive market for acquiring commercial properties, residential buildings, and development projects.
   • Strategies: These players are often interested in large-scale acquisitions in developing or revitalizing neighborhoods, as well as properties with strong rental yield potential.

Conclusion
In 2024, Madrid continues to attract a variety of buyers, each with distinct motivations and preferences, but all sharing confidence in the city's potential. Whether for investment, a primary residence, or a pied-à-terre in one of Europe's most dynamic capitals, Madrid offers opportunities for all buyer profiles.