Why does a socialist "bourgeoisie" want to invest its wealth in Spain?



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"Many dreams and nightmares" have come from the reality of Venezuela, as the small dome has monopolized revenue and resource management in Venezuela, currencies that should swell the national treasuries, but only serve for bold boliburgous muscular boluses.

El Pais's newspaper tells how they "invest" some of Venezuela's kleptocratic accident. At the same time, by comparing why it is advantageous to acquire real estate in Spain and not in other European countries.

For over a year, 25 new homes have been sold in Madrid for a price ranging from 13,000 to 14,500 euros per square meter above the average branch – 8,000 to 10,500 euros – managed in the desired luxury market. They are part of two of the city's most exclusive offers, with prices over four million. It is on Montalbán Street 11, in the state of Los Jerónimo, and the Canalejas Complex houses next to the Puerta del Sol, the Four Seasons hotel chain. The last sale has been a 10m attic.

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The sale of 10 million Canalejas estate will not be the highest, which will close in the coming months, although there are less promotions and fewer units in marketing. The Italinmuebles, located in Montalban, one of Madrid's most unusual penthouses – the remaining nine floors have already been sold – has been sold to 13.9 million.

Gonzalo López-van Dam is a three-storey "749 meters with a terrace, a swimming pool, six bedrooms and two artworks worth 250,000 each", Carlos Cruz-Diez, a famous Venezuelan artist. Promora, one of the Marketing Managers. The square meter costs 18,558 euros. Fortunately, "it is negotiable". Last year, the same floor cost 12.5 million euros, making it tenfold more expensive.

The rise in the luxury market in Madrid has risen in 2017. "This year is a bit smoother, 7%," says consultant Knight Frank, who also sells other projects at José Abascal, 48 (3, 4-5.8 million) or Jorge Juan, 53 424 meters 4.5 million.

Madrid is already the second city in the world, behind Singapore, where the primary residence is valued (10.3% by June) according to Knight Franki. More than enough reason to start a business. "Foreign investors, who work in partnership with highly experienced local developers, buy real estate for complete refurbishment," says Savills Aguirre Newman.

International funds and Latin American and Spanish entrepreneurs such as Capriles or Matutes are developing some projects. And a luxurious company like Sotheby's International Realty has just opened an office in Madrid with a 600,000-euro portfolio, according to Viva Sotheby's franchise owner Paul Kempe. In addition to the national buyer, they are looking for Latino: "We want to take advantage of the connections offered by Madrid to the markets of South America, Central America, Mexico and the Caribbean."

Regardless of the high rates of customer base, the number of people with over $ 50 million in net assets increased by 10 percent in 2017, according to the British Council's Wealth Report 2018. Domestic and foreign big winnings are looking for houses in Madrid and Barcelona, ​​two Spanish luxury. "The real estate sector in this country is a low-risk investment opportunity," says Lucas Fox's partner Tom Maidment, but it is the capital city that is attracting more investment, especially after the political conflict in Catalonia.

Read the full article from El País here

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