The Spanish real estate market maintains its momentum in 2024, evidenced by a 9% growth in home sales in November compared to the same month the previous year. This solid trend, reflected in data from the General Council of Notaries, highlights the attractiveness of the sector for both local and international buyers. According to K&N Elite, a consulting firm specializing in premium clients and foreign buyers, Madrid has established itself as a key destination for real estate investment.
Rafael Santana, director of K&N Elite in Madrid, notes a notable increase in interest from international buyers. “We are seeing a considerable growth in the demand for properties in Madrid, a market where residential opportunities and long-term investments come together,” he states. Currently, 21% of transactions in Spain involve foreign buyers, indicating a growing international interest in the country.
The Notaries’ report also highlights a 5.9% increase in the average price per square meter in Spain, reaching 1,723 euros per square meter. In Madrid, the increase is even more significant, at 12.3% in the same period. Santana emphasizes that “investors are focusing on areas with great potential for appreciation,” further reinforcing Madrid’s position as a focal point of interest for those seeking medium to long-term returns.
Additionally, there has been a 24% increase in mortgage loans compared to the previous year. This increase reflects both confidence in the market and favorable financing conditions that enable a greater number of buyers, especially young people, to access property. At K&N Elite, it is observed that the growth in mortgage credit is further driving demand in the sector.
With these positive results, Madrid reaffirms itself as the central figure of the Spanish real estate market, attracting the attention of foreign investors. “The sector’s stability and the attractive property offerings keep Spain as a benchmark in real estate investment,” concludes Santana. Projections for 2025 are optimistic, anticipating a decisive year for the market with sustained demand and an increase in investment.
Referrer: MiMub in Spanish
