Madrid is the New King of the Spanish Real Estate Market
Barcelona, for quite a long time, attracted more investors than Madrid when it came to tourism and real estate market. After all, these two markets are rather closely knitted. Especially the foreign investors who wish to get their hands on a Spanish Golden Visa are increasingly looking for a Spanish property in Madrid rather than in everyone’s favourite holiday destination, Barcelona. There seems to be a couple of reasons of why Madrid is slowly taking the place of Barcelona in attracting investors to buy some real estate in it.
Why was Barcelona so popular among foreign investors?
A lot of foreign investors, when it comes to buying a real estate from the Spain, or anywhere else on the world for that matter, prefers to buy one at a touristic city so that they can actually use their house to its full extend. The number one tourist destination in Spain would always be Barcelona. From its never-ending cathedral to extremely well-planned city blocks, and obviously thanks to its beautiful Mediterranean beach and vibe, it attracts millions of tourists every year. Some of these tourists can turn out to be foreign investors who would want to enjoy the benefits of Spanish Golden Visa. The capital Madrid does not generate this sort of attention as it is nowhere near as well positioned as Barcelona. Madrid is known for its 9 months of winter and 3 months of summer both of which are known to be hellish for its residents. But things are changing, and it is looking more and more wise to have a house in Madrid.
What is it that attracts people in Madrid?
It is true that Madrid does not have the geographical advantages of Barcelona but that did not stop its denizens to develop their culture and to attract the world’s attention that way. First of all, the daily routine and nightlife in Madrid is becoming increasingly famous all around the world, followed by many of its innovations in the culinary scene and its plenty of famous football groups. The city is on the rise when it comes to the quality of life of its citizens and it does offer many unique neighbourhoods that cover all sorts of customers’ needs. Moreover, it is the more stable of the two cities when it comes to politics. The Catalonian independence issue does deter a lot of foreign investors from spending their hard-earned money in Barcelona which may not be a part of Spain, and thus fulfil the Spanish Golden Visa requirements, for an eternity. Ultimately, the looked over “desert” city in the middle of Spain is nowadays a better option for many than the pearl of Mediterranean, that is Barcelona and it seems like this trend will continue for the unforeseeable future.
Other Reasons on Why Madrid is Attracting so Many Investors
Madrid has become one of the key safe havens for South American investors which is another important reason for its dominance in the market right now. People coming from less stable Spanish speaking countries pick Madrid as their second home, or more like an escape route they can use in case anything bad happens to them or their business back home. This is made more reasonable by the Spanish government which also tries to turn Madrid into one of the business capitals in Europe, thus on a global scale. That would make it easier for every businessperson, who compromise the majority of people interested in Golden Visas to actually pick Madrid since then they know that they can easily continue their operations from the safety of a stable European capital city whose government continuously improves its infrastructure for better business opportunities.