El precio de la vivienda subirá en Madrid el 4% en compraventa y el 7% en alquiler
• The strong residential property demand extends to all districts of the capital and strengthens as the main engine of the real estate market in 2017
• Engel & Völkers predicts a big wave of new-build developments in peripheral areas as well as property renovations in the centre
• Recoletos, Almagro, El Viso, Jerónimos and Justicia are the most expensive neighbourhoods in Madrid, with average prices exceeding 5,000 euros / sqm
The improvement of the economy, the normalisation of prices and the interest from investors due to low mortgage rates and deposit payments have drawn a positive scenario for the real estate industry in the recent years. In 2017, despite the expected economic slowdown, the market will continue to grow as it's supported by the strong residential property demand.
This is one of the conclusions from the Market Report Madrid 2017, prepared by the German firm, Engel & Völkers, which predicts a wave of new-build developments during this year following the rebound that was experienced in 2016. This trend will take into account the large new developments in surrounding areas as well as renovations in the centre of the capital.