Madrid.— The appetite of Latin American fortunes for Spain, with Madrid in their sights, has not stopped growing in recent years, turning the capital, as some already say, into the “European Miami.”
After the Venezuelans and Mexicans, who have been very active in recent years, now it is the turn of Argentines, Chileans or Colombians.
Although the Latin American investor has always been interested in the Spanish real estate sector, for years the increase in its presence in Spain has been noticeable, especially in Madrid, its natural gateway to Europe.
Attracted by the cultural proximity to Spain, a common language, the quality of life and the security it offers, many Latin Americans are investing their money in Spanish real estate, which also has more competitive prices than other European capitals such as Paris, London or Berlin.
Although there are many who choose Spain as a refuge to secure part of their assets, others come to stay, incited by the economic and political situation in their countries of origin.
There are also those who are looking for an apartment for their children who come to study in Spain and those Latin Americans who have lived and worked in the country for years and who have decided to buy a home, although much more economical.
After the strong incursion of Venezuelans a few years ago, coinciding with the political and economic situation of the country, the clients that are most active at this moment come from Mexico, Argentina, Chile and Colombia, according to the sales director of Engel & Völkers Madrid , Sonia Catalán.
Aimed at another housing segment, real estate agencies emphasize the acquisitions of Ecuadorians or Peruvians residing and employed in Spain who are seeking family reunification, explains the deputy general director of Donpiso, Emiliano Bermúdez.
In the case of Madrid, the arrival of Latin Americans with high purchasing power is very present who are looking for luxurious and spacious apartments that are not plentiful and for which they pay between 6 thousand and 9 thousand euros per square meter, reaching a purchase ticket that goes from 500 thousand to more than 5 million euros, says the Director of Studies at Pisos.com, Ferran Font.
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2023-10-23 09:45:42
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