Insights

Latin American millionaires, especially Mexicans, are investing in Madrid's real estate sector, turning it into a new destination similar to Miami. Since 2020, they have spent more than €700 million on luxury properties, driving up prices and attracting new businesses such as restaurants and exclusive services.

Reasons for investment: Investors seek the European lifestyle, security and the "golden visa" program that offers residency in exchange for real estate investments. In addition, Madrid offers a more accessible luxury price than other cities such as Paris or Berlin.

Investment examples: Carlos Slim and Carlos Fernández González are examples of Mexican tycoons with significant investments in Spanish real estate companies.

Consequences: Latin American investment has boosted Madrid's real estate sector, positioning it as a luxury destination competitive with other European cities.