Real estate in Madrid is a popular segment for foreign investors. They actively enter the market of the country, buying land for construction and finished buildings. A new major investor – the company Stoneweg.
Real estate in Madrid: record investment amount
A new major investor in the real estate market in Madrid is the Spanish-Swiss company Stoneweg, which bought land in the metropolis for the construction of two residential complexes. The amount of the deal was €130 million, which is considered a record for the city. The intermediary for the parties was the consulting company Colliers. The area of 40 thousand sq.m. was allocated for development. According to the project, two residential skyscrapers will be erected on it. The developer offers 700 luxury apartments for buyers. It is expected that a square meter here will cost 6 thousand euro.
The author of the project is Dragados company.
On the land adjacent to the houses there are plans to build office buildings, but their developer is still unknown.
The new skyscrapers are a bold idea of architects, which will completely change the appearance of this part of Madrid. Experts are sure that such construction of buildings, unusual for the district of Tetouan, will be the first step, after which other investors will engage in the construction of similar projects. This state of affairs is also supported by the pace of development of the Madrid real estate market, which is growing every year. Now the emphasis is on elite housing, which is increasingly in demand.
Stoneweg Company is sure that the apartments will be in demand not only among the local elite, but also among foreign investors and businessmen.
Overview of rental property in Madrid and in the country as a whole
The Spanish real estate market is developing all over the country, which is facilitated by a stable economy and loyal conditions for foreigners. This year rental rates have increased by 2.2% and the growth dynamics will continue.
The most expensive rental housing is in Madrid and Catalonia. In the metropolis and its suburbs rates have increased by 7.2% over 2 years. Now the monthly rent per square meter is €12.5. In the central area of Madrid, you can rent an apartment for € 7.9 per square meter. This figure is 58,4% higher than in other cities of the country.
In Catalonia, the cost of rent is even higher, on the market you can find offers for €11.7 per square meter.
Despite the fact that in the metropolitan area rates have increased significantly, in some parts of the country they have fallen. But this has not affected the overall picture of the real estate market.
Spain is a promising area for investment. The country is actively developing, the influx of tourists does not decrease all year round, which provides a stable demand for rental housing.