Super-luxury property market, do I wait or buy?

Superluxury in Madrid

The super-luxury property market in Madrid is booming. The pandemic has created a strong demand for super-luxury homes, which is driving up prices and investment in this type of property. These years of uncertainty far from decreasing the value of super luxury homes has had the opposite effect. There are houses that at the beginning of 2021 were worth 6.5 million euros, now they can exceed 8.5 million. Here the big question is, is it the right time to buy or is it better to wait.

A good time for super luxury

At Promora, one of the most important luxury real estate companies in Madrid, we are closing twice as many super-luxury transactions as in previous years. If before it was normal to close between two or three deals a year, now we are at six or seven and demand continues to rise. We have even managed to close a 15 million euro deal and sell the most expensive penthouse in Madrid.

Currently there are many buyers and investors interested in the most luxurious and modern homes in the city of Madrid, being the union of several factors that explain this real estate boom. On the one hand there are a large number of Latin American and European fortunes that see Madrid as a perfect city to live or spend a period of time in because of its quality of life. On the other hand, the region’s fiscal policy and interest rates have turned housing into an important safe haven for buyers.

La Moraleja, Madrid’s favourite area

While all the exclusive areas of Madrid are booming, the La Moraleja development is the clear winner of this trend. La Moraleja’s international prestige as an exclusive residential area, its grand houses and the recent refurbishment of old mansions into modern villas, to the taste of young fortunes, mean that many people are willing to shell out almost any sum for a home in this northern Madrid urbanisation.

Super luxury villa in La Moraleja
Swimming pool luxury villa

The million-dollar question: do I wait or do I buy?

Is it a good time to buy or should we wait for this boom to pass? The truth is that the real estate market in general is always subject to ups and downs and it is never possible to predict whether it has reached its peak or whether it will continue to rise. In the case of super-luxury, with homes worth more than five million euros, things are more complicated as the supply is very limited, with unique properties that are not always available. In any case, at Promora, we recommend that you analyse your personal factors very carefully. The state of the market can make us change our mind slightly, but the purchase must be based on vital terms.

Last articles