Madrid and Barcelona are among the most attractive destinations for foreign buyers of luxury housing in Spain.
Most of the luxury properties in both cities (about 80%) are apartments and penthouses. The average prices for them are 2.2 million euros in Barcelona and 2.48 million euros in Madrid. The rest of the luxury real estate market (about 20%) is represented by villas. The average cost of houses in the Catalan capital is 3.2 million euros, and in the capital of the country 2.9 million euros.
In Barcelona, foreigners account for 25% of requests for expensive apartments and villas. In Madrid, the share of international buyers of apartments and villas is lower: 14.5% and 12.8%, respectively.
The British, Germans and French are the most active in the luxury real estate market in both cities. However, interest from American buyers has also grown in recent years.
Barcelona has the most sought-after elite neighborhoods among foreign citizens: Ciutat Vella, San Martin and Eixample. The foreign demand for real estate in them exceeds a third, which is much higher than in the whole country.
In Madrid, the interest of foreigners is focused on luxury apartments in the city center and Salamanca. In the most sought-after areas, such as Sole, the share of international demand is up to 24%.
Source: Idealista
