Rich Latin Americans Transform Madrid Into a New Miami
Luxury property prices are soaring in the Spanish capital and its high-dining scene is abuzz with activity.
The Salamanca district of Madrid on May 27.
Photographer: Manaure Quintero/Bloomberg
When apartments in a luxury building on Calle Padilla in Madrid’s chic Salamanca district were put on the market a few months ago, more than half of them were snapped up by wealthy Mexicans.
The project, with 25 units each priced at as much as €3 million ($3.25 million), is being bankrolled primarily by Mexican investors and stands as a symbol of the increasingly visible presence of the Latin American nation’s citizens in the Spanish capital.