Melting pot of cultures and one of the most important destinations for real estate investors
By Juanjo Bueno
Although its origins date back to the second half of the 9th century, when Emir Muhammad I ordered the construction of a great fortress on the banks of the Manzanares, it was not until 1561, when Philip II moved the Court to Madrid, that the capital really came into its own.
This heyday has continued to the present day and turned Madrid into a true melting pot of cultures where visitors feel welcomed with open arms and no one feels like a foreigner.
With a population of more than 6 million, Madrid has become one of the most important cities in Europe and one of the favourite destinations for tourists looking for the combination of a historic city with an infinite range of leisure activities.
The city that never sleeps hosts major concerts and sporting events that are irresistible attractions. In addition, the atmosphere of its neighbourhoods, the warmth of its people, the endless cultural offers or its typical „tapas“ bars that pay tribute to a gastronomic tradition with a very Spanish heritage, are some of the other attractions that drive more than 7 million tourists to take home a suitcase full of souvenirs each year.
Like all major cities, Madrid boasts a large cast of illustrious and internationally known personalities who have placed the Spanish capital in a very prominent place on the world map of fame.
From historic writers such as Calderón de la Barca, Lope de Vega and the philosopher Ortega y Gasset to actresses such as Penélope Cruz, singers such as Julio Iglesias and sportsmen such as Raúl González Blanco.
But perhaps the best ambassadors of a city that is in itself a literary character, a film set and the inspiration for dozens of songs are the adopted Madrileños, such as Velázquez, the writers of the Generation of ‚27 or the filmmaker Pedro Almodovar.
Madrid has become a nerve centre for doing business, not only because of its central location on the peninsula, but also because of its wide range of hotels and its magnificent connections with the whole of Europe.
Under these conditions, the Madrid real estate market has recovered in recent months the pulse lost during the global pandemic to position itself as one of the places with the highest demand for properties and revalued real estate.
Pablo López Pérez is the master franchisee for the Community of Madrid, responsible for the expansion of the real estate company KENSINGTON Finest Properties International in the region. In his opinion, the real estate market in Madrid has not escaped the uncertainties that are shaking the whole of Europe, with significant rises in interest rates and inflation until the end of the year. „However,“ he says, „I believe that this will be a temporary situation and we will move from excess demand and few properties on the market to the opposite situation, which will probably contain prices“.
Eduardo González-Salamanca, KENSINGTON‘s franchisee for the La Moraleja and Madrid North area, is also optimistic about the property market situation in Madrid. „Speaking of the luxury market in which we are positioned, these adverse effects are mitigated both by the better access to financing that our clients have, as well as by their desire to invest in properties to protect themselves from inflation,“ he says.
„Our job is to adapt to these market changes in order to always offer the best opportunities to our clients“ continues López Pérez. For the master franchisee, the main objective is to consolidate KENSINGTON as a leader in high quality and luxury real estate transactions in Madrid. „To achieve this, our plan is to open between 8 and 10 shops in the prime areas of the metropolitan area. Our goal is to be operating by the end of 2022 with at least 3 real estate showrooms“, explains this expert in the real estate market.
For its part, the La Moraleja office has set out to be the benchmark in the luxury real estate market. „To begin with, in our office we provide a truly personalised service to both buyers and sellers. That means an exquisite and very restrictive selection of staff and limiting the number of clients per agent so that they can dedicate the time they deserve,“ explains González-Salamanca.
Both franchisees also agree that in times of uncertainty, housing continues to be a secure asset. But in order to consolidate this security, it is essential to have a good advisory service. „We offer contacts with high-level professionals that our clients may need. So both our homeowners and our buyers can be sure of having a real estate service that matches their properties and their lifestyle,“ the two experts explain, almost in unison.
