Insights

Latin American citizens, especially Mexicans, are transforming Madrid into a new property investment destination. A luxury project stands out in the Salamanca neighborhood financed mostly by Mexican investors, symbolizing the growing presence of this community in the city.

Since 2020, Mexicans have invested more than 700 million euros in real estate and construction in Spain. The situation is compared to capital flight from major Latin American nations due to left-wing governments, and it is mentioned that Madrid has become the "new Miami."

This flow of funds has fueled an increase in prices for luxury properties and generated changes in the city's dining scene. In addition, there is the opening of offices for ultra-rich people, the arrival of luxury hotels and the preference for Spanish business schools by the children of rich Latin Americans. The trend has accelerated since the COVID-19 pandemic, highlighting the search for business opportunities by these investors.

Source: Diario La Razón https://www.elconfidencial.com/inmobiliario/2023-06-02/los-latinoamericanos-ricos-estan-convirtiendo-madrid_3658402/