The first half of the year is closing in with stated growth in the real estate market. The new-build developments have been especially favoured by the scarcity of supply and very high demand. To better understand the current situation in this sector, Óscar Larrea, the new-build property director, will enlighten us further:
What is the health status of the luxury new-build market in Madrid?
The current situation in the two large capitals is unbeatable. The demand is much higher than the current supply especially in Madrid and prime zones due to scarcity of land. The main interest is focused on old renovation buildings, which entails an increase in the costs of construction / renovation. In addition to the above, prices have risen by 30% in areas such as Salamanca and Jerónimos and between 15-20% in Madrid's less prime zones: Chamberi and Chamartin.