Green escape in the city: the luxury was this

During the months following the Covid 19 pandemic, there was an upturn in demand for single-family properties in most of the residential municipalities on the outskirts of Madrid. It was a small peak that broke the real estate standstill experienced in 2020. But the truth is that the capital of Spain has recovered like no other European city in these last three years, and the ‘Madrid effect’ has been on the front page of media such as The New York Times (on February 16, 2023, under the title ’36 hours in Madrid’) or in the FT last February (under the title ‘Latin buyers choose the most elegant Madrid’).

While it is true that the foreign buyer, being the Latin American buyer very notable, the truth is that the domestic customer is present in this golden age of the villa and court but to a lesser extent, with a split of 80% and 20% respectively between international and domestic buyers. And although there are logically differences in the characteristics that both are looking for, there is a trend in which both converge: the valuation of outdoor spaces.

The real luxury now is not having a garden, it is having a property within the M30 where, in addition, we have an escape to the outside. Of course, penthouses are still an object of desire, but it is not the only formula to enjoy outdoor spaces, as we are going to see in some of the following properties that we have for sale in The Sibarist.

Penthouses in Madrid: scarce supply for a very high demand

They have all the elements to be the pretty girl of Prime real estate sales: larger terrace than the other high-rise apartments (if they have one); more privacy than the rest of the neighbors and the best views. But they also have all the conditions to be the most expensive properties because of their lower supply in the face of greater demand compared to conventional apartments. In fact, penthouses are priced 25% higher than other units in a building,

If we are also talking about new construction in the Prime areas of Madrid (within the M30), these assets are even scarcer and the impact increases.

Being scarce the supply of new construction in Prime areas, it is also true that the second-hand market is in high demand. The premium buyer knows very well what he wants and where he wants it, and especially appreciates the historical-artistic added value in each of our facades of the late nineteenth and early twentieth century; of the carriage passages and stately portals or the height of ceilings over 3 meters, moldings and original woodwork, fireplaces, etc.. The most demanded are the turnkey refurbished assets, which respecting the original attributes, reformed with good qualities and first class facilities.

If it also has two terraces, like this wonderful property in Recoletos, you recognize that you are in front of something unique and singular.

There are owners who even prioritize the meters of terrace over the useful housing. Can there be anything more desirable than a pied à terre as a wonderful box overlooking Madrid? Little more is needed by a tenant without too many family burdens or need for space. Or as an alternative, a large apartment like this penthouse with terrace in the neighborhood of Justicia, with 408 m2, 4 bedrooms and 5 bathrooms, with a beautiful terrace of 31 m2 with spectacular views.

Courtyard life, the Spanish essence

The history of patios is usually associated with Andalusia, following the influence of Roman culture, but especially the Arab world. Some spaces that respond to the dual functionality of privacy and the use of the earliest geothermal energy, allowing the entry of light, while shelter from extreme heat. But its use has permeated throughout the Spanish geography, retaining these two functions as new ones in the cities. It is very common to find in the center of Madrid, in buildings between the mid-nineteenth and early twentieth century, old family palaces, spectacular courtyards for private use, a real oasis in the historic center.

They were therefore a luxury and neighborhood enjoyment that has come to us today in dribs and drabs, and that in many occasions have already a decorative use. Except in a few occasions, when they are destined to the private use of some of the properties of the building. This is the case of the incredible property in the image above with four courtyards in the elegant and dynamic Salesas neighborhood. It occupies two physically united registry units that are sold together on a single floor. The designer kitchen, adjacent to the dining room, opens onto a beautifully landscaped courtyard for private use. In the rest area, the house has three bedrooms en suite, with access to three other landscaped courtyards, also for private use. In addition, the house has two beautiful French balconies, two bay windows and four period fireplaces.

Spain is lived outdoors

We like to spend time outdoors, when the weather permits, which is most of the year, and when it does not. It is undoubtedly a fact that we have internalized and that makes visitors fall in love with us. The climate, street life, social and gastronomic life is one of the engines, along with security and cultural life, which has made Madrid is already among the top ten positions in the various rankings that are published on the best cities in the world to live.

If the outdoors can be prolonged at home, it is a luxury that will not be renounced by the most select buyers who are increasingly demanding this type of unique properties in historic Madrid, those jewels that allow you to have breakfast, work, or have a wine in the afternoon watching the unique skyline of orange roofs of the city of the moment or enjoying a beautiful garden setting in a courtyard of the time.