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Real Estate Market in Madrid in 2016

2015 meant a turning point in the real estate market in Madrid. As a whole, last year we witnessed a moderate recovery and stabilisation of average property prices. It can be said that it was the year of stabilisation before the rebound.

Madrid - madrid-plaza-espana.jpg

Confidence returned among investors who had large portfolios of rental assets due to higher profitability against other alternatives, which has put Madrid in the third position on the investment market only behind Berlin and Dublin. The volume for both sale and rental transactions has increased by an average of 17%.

Madrid - mercado-inmobiliario-madrid-paloma-perez-bravo.jpg

Paloma Pérez Bravo - General Manager - Engel & Völkers Madrid

With regard to real estate prices, development has been very uneven across regions. We have seen a decline of 30% in some areas of the capital and increases of up to 4% in others. The average price in Madrid in 2015 stood around the 2,800€ / sqm vs 2.846€ / sqm for 2014, which means a 2% decrease year on year and 35% since 2007.

In 2016 we can expect a consolidation of the recovery, with price increases which will remain uneven due to the existence of a large stock of homes from banks, on the one hand, and on the other, the emerging shortage of supply in certain areas. Likewise, this year will be especially significant for the return of real estate development in those areas of the capital that are suffering from property shortage.

Aside from the new political scenario, the positive trend of the macroeconomic variables should forecast a favourable year in 2016.

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