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Interview with Mar Herranz, Team Leader of Madrid Northwest

1. Have we finished the year, 2016, with the expected figures?

The real estate market is once again in a calm state since the recession that occurred 8 years ago. 2016 has finally been a year of stabilisation and normalisation. House buying and selling transactions have risen, we have had strong foreign demand coupled with the national customer return and political stability in the last quarter of the year, and we have seen an increase in residential transactions compared to the previous year. 

2. Which areas in Madrid do you consider to have been the most popular in 2016?

In Madrid, the demand is usually focused on the most exclusive neighbourhoods, quality housing, with good infrastructure and communications and where, in general, buyers have a high purchasing power. The outskirts of Madrid, areas such as Aravaca, Pozuelo de Alarcon, Boadilla del Monte and Rozas have been in great demand. Part of it is due to luxury houses and the varied buyer profile, ranging from families interested in moving residence, foreigners looking for a house for work purposes, and those who want to invest in a property.

Madrid - maria-del-mar-engel-volkers-madrid.jpg

3. In your opinion, will buying a property in Madrid this year be a good investment?

This year's forecasts are good. As the number of trading transactions has increased over the previous year, we have seen an upward price trend. Financing is more favourable, supply has increased and so has demand. The foreign buyer views the Spanish market as an opportunity and not an uncertainty. The northwest area of ​​the city has attractive municipalities for investors.

4. Are the highest incomes always found in the areas with the highest price per square metre?

The highest rentals are usually in the most exclusive neighbourhoods of the capital. Prices can reach 5,000-6,000 euros per square metre. These areas have many interested buyers, both Spanish and foreign. In fact, demand for single-family homes in estates such as La Finca, Montealina, Monteprincipe, Molino de la Hoz, Golf de las Rozas and Valdecabañas has increased.

5. And if we want to sell a property, do you consider the current economic situation favourable?

If you want to sell, now is a good time as resale properties are not going to continue going down in value in addition to the political stability in Spain. At Engel & Völkers Madrid we have noticed properties are sold within 3 to 6 months of going on the market compared to 10/12 months before.

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