21 August 2019
According to a report by Knight Frank, Latin American investors, including buyers from as Venezuela, Colombia and Mexico, are increasingly looking to acquire properties in Madrid’s prime residential market.
The investors, many of whom tend to spend three to six months per year in Spain, look to buy flats that can be used as short-term rentals for the rest of the year. Holiday rentals in Madrid are increasingly sought out by sophisticated buyers who are willing to spend approximately €500,000 to furnish and redecorate the flats.
The trend is even expected to accelerate in the short-to-medium term given the high quality of life and lower cost of living in Spain compared to Europe’s other major capitals.
Original Story: Short Term Rentalz
Adaptation/Translation: Richard D. K. Turner