Investor profile: national or international?
MRF: Mainly in prime areas, the investor is international. Especially Latin Americans, who are increasingly looking for larger properties because they spend more time in Madrid, attracted by factors such as security and language. There is also a European public, although the latter is divided between the Recoletos, Almagro, Justicia and Cortes districts.
Many of the international investors who are landing in Madrid have properties in major European cities and want a comparable property in the capital. For this reason, they choose the first for its location, type of property in a representative stately building, with a quality cultural and leisure offer in the surrounding area. Recoletos is the star neighbourhood.
Have the nationalities of investors changed in the last five years, and can you tell us how this has evolved?
MRF: Initially the investment was mainly in the hands of Venezuelans, both individuals and funds that bought and refurbished buildings, respecting the classic façades and providing them with the best services, such as gymnasiums, rooftop swimming pools, parking spaces, etc. In recent years other nationalities have been arriving to a greater or lesser extent, many Mexicans, but we are also working with Peruvians, Colombians, Ecuadorians, Costa Ricans? There has been an increase in the number of Europeans investing in Madrid, French, Belgians, Dutch, Italians and Portuguese, who are also interested in other areas in the historic centre such as Cortes and Justicia, which they consider more sophisticated.