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Colliers: Madrid Running Out of Land for Luxury Housing

Spain’s capital of Madrid is home to the country’s entire supply of new developments with homes costing more than 5 million euros for sale, 60% of which are purchased by Latin Americans.

The supply of developments with average prices above 5 million euros is currently very limited in Madrid. According to the consultancy firm Colliers, the virtual absence of land for new developments and conversion projects is leading market watchers to predict a lack of supply, both in the short and medium-term.

According to the Luxury Homes study by Colliers, the luxury residential market acts as a safe haven in times of uncertainty for investors. Madrid is one of the most important places in Europe to invest in the sector. According to the consultancy firm, around twenty homes of this type are currently on sale in Madrid, of which the Residential Sales Advisory team at Colliers is responsible for 60%.

However, there is a shortage of land to build new homes in this category in the city centre and, as a result, prices are rising in the best locations.

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