In the press
What the press says about the market we know first-hand. A selection of news on prime residential, investment and financing in Madrid, the coast and Miami, and on the developers and firms we work with. Articles are in Spanish; we always link to the original, and the commentary is ours and is updated regularly.
Madrid: a prime market that does not stop
La Finca compra un hotel en Chamartín por cerca de 60 M a Azora y un piso en el barrio de Salamanca
The developer behind the Pozuelo estate keeps buying in central Madrid: a 199-room hotel in Chamartín and a home in Salamanca. Madrid family capital investing in its own city is a constant that explains the depth of the local prime market.
El mercado de la vivienda de lujo se ralentiza a nivel mundial: Zúrich y Madrid lideran en Europa
Knight Frank's 47-city index puts global prime growth at 2%, with London, Beijing and Los Angeles falling, while Madrid and Zurich lead Europe. Madrid remains one of the few capitals where luxury keeps growing as the global market cools.
La Moraleja se dispara: comprar una casa en la urbanización más exclusiva de Madrid ya cuesta de media 2,15 millones
Using Diza data, the average price in La Moraleja rises sharply while transactions almost halve and foreign buyers gain share. Fewer deals at higher prices: the pattern of a selective market, not a correcting one.
Castellana 198 conquista el mercado residencial prime de Madrid: el nuevo icono de Chamartín ya ha vendido el 50% de sus viviendas en solo tres meses
New luxury build on the Castellana with half its units placed in three months. It confirms what we see daily: well-located, well-designed new product is absorbed quickly in Madrid, and early access to the developer makes the difference.
Madrid gana enteros como gran capital del lujo inmobiliario europeo
Salamanca nears 10,000 euros per square metre, Chamberí is up more than 20% and the average closing ticket has doubled in five years. 60% of domestic demand concentrates in the north-west belt, where Horlux & Emuna has one of its bases.
Marbella and Ibiza
Esta ciudad costera española ya es la segunda más cara de Europa: el metro cuadrado se paga a 62.000 euros
According to the Engel & Völkers ranking, Marbella is now Europe's second most expensive coastal city for waterfront property, behind only Saint-Jean-Cap-Ferrat, with Mallorca and Ibiza also in the top ten. The Costa del Sol now competes with the French Riviera.
Marbella consolida su trono en el lujo residencial mundial y ya juega en la liga de Mónaco y Miami
Marbella enters the top five of the Barnes City Index and a new buyer appears: very young entrepreneurs paying over five million to live there year-round. The client profile is changing and the product has to adapt.
Anatomía del lujo en Marbella: dónde, qué y por cuánto compran los ricos extranjeros
A profile of La Zagaleta, the Golden Mile, Puerto Banús and Sierra Blanca, with prices approaching 20,000 euros per square metre for the best villas. Useful to understand why each Marbella enclave is a market of its own.
Las viviendas de lujo de Ibiza y Mallorca llaman la atención del mundo
The major firms agree that foreign buyers account for 70% to 85% of prime transactions in Ibiza. A market with very little new supply, where product often changes hands before it is advertised.
Dils Lucas Fox promueve 19 'branded residences' en el puerto deportivo de Ibiza
Casa Pacha in Marina Botafoch: 19 branded residences priced from 1.4 to 9 million with delivery expected in 2028. Branded residences arrive in Ibiza through a firm we work with regularly.
Miami
Azora cierra dos operaciones inmobiliarias en Miami por 72 millones de euros
A Spanish asset manager sells offices in Coconut Grove to a developer planning luxury residential and buys retail in Coral Gables. Spanish capital now operates in Miami as a matter of course, in both directions.
El 'sorpasso' de Miami a Nueva York: el 'boom' de la vivienda la convierte en una de las ciudades más caras de Estados Unidos
Miami overtakes New York and Los Angeles for the first time in the price parity index, with housing 76% more expensive than before the pandemic. For Spanish or Latin American buyers, the entry point requires more judgement than ever.
Investment, international buyers and financing
El comprador internacional ya representa el 30% del mercado inmobiliario de lujo en España
Tickets of two to five million, seven in ten deals without a mortgage and almost half driven purely by investment. The portrait of the international luxury buyer matches the client we serve every day.
Las hipotecas sobre viviendas alcanzan máximos de 16 años y más de seis de cada diez son fijas
The INE records the best June since 2010 for mortgage signings, with a record average amount and more than 60% at fixed rates. Financing keeps flowing despite the Euribor rebound.
El euríbor alcanza el 3% por primera vez en casi dos años a la espera de que el BCE mueva ficha tras el verano
The Euribor touches 3% for the first time since September 2024 and the market prices in an ECB hike in September. In the prime segment the impact is limited, since a good part of the deals close without financing.
Los extranjeros copan el 60% de la demanda de vivienda de ultralujo, que se ha encarecido un 30% en 5 años
The Catella report for Hiscox concentrates 83% of product above three million in the Balearics, Málaga, Madrid and Barcelona and concludes that the end of the golden visa has barely mattered. We discussed it in our August market notes.
Las compras de vivienda por extranjeros alcanzan su máximo histórico en junio
The Registrars put the foreign buyer share at an all-time high in the second quarter while domestic demand loses volume. An underlying trend that supports prime markets in the big cities and on the coast.
La inversión hotelera se dispara un 26,5% y alcanza un nuevo récord: 2.450 millones en el primer semestre
The best first half on record for hotel investment in Spain, with 88 assets and more than 12,000 rooms transacted. Hotels remain the favourite asset of the institutional capital our investment clients look for.
Developers and firms we work with
We work directly with developers and firms such as Metrovacesa, Gestilar, Dils Lucas Fox, Grupo Quantum, Larvin, Kamalaia and Aló Homes, which gives us access to product before it reaches the market. These are their latest appearances in the press.
Metrovacesa refuerza su apuesta por Galicia con 100 viviendas junto al gran parque de A Coruña
Work starts on a 100-home development in A Coruña with an A energy rating. Metrovacesa keeps expanding its new-build portfolio beyond the big capitals.
Pérez Bravo (Dils Lucas Fox): "El inmobiliario de lujo está en un cambio de ciclo a nivel mundial"
Interview with the CEO of Dils Lucas Fox: while Miami, New York, London and Dubai cool down, Spain is enjoying one of its best moments of the decade, with a younger buyer and more demand for luxury rentals. It matches our reading.
Metrovacesa vuelve a beneficios y entrega 809 viviendas en el primer semestre de 2026
Positive net profit, revenue more than doubled and a pre-sales book of almost 2,900 homes. One of the country's big listed developers with its delivery machine running at full speed.
Dils Lucas Fox crece en España cerca del 13% en volumen de operaciones durante 2025
13% more volume in 2025, with Madrid revenue soaring and 58% international buyers. One of our major partners, with an international network that complements our local access.
Gestilar designa a Pablo Méndez responsable de su dirección de negocio e inversiones
Gestilar strengthens its land acquisition and investor partnerships team after closing 2025 with twelve projects and more than 1,700 homes under development. A Madrid developer in full expansion.
Metrovacesa eleva sus ingresos un 66% en el primer trimestre y pagará dividendo en mayo
Revenue up in the first quarter, 218 homes delivered and a dividend almost double the previous year's. Financial strength that shows in the delivery schedules of its developments.
A&G y Gestilar invierten 70 millones para crear 288 viviendas de alquiler asequible en Madrid
A partnership with A&G to develop 288 affordable rental homes in Los Ahijones, with delivery expected in 2029. It shows Gestilar's ability to structure deals with institutional capital.
Quantum Kiptam adquiere un edificio de lujo de 4.600 m2 en Madrid
Purchase of a 4,600-square-metre building in Recoletos to develop ten homes and a duplex penthouse designed by Rafael Robledo. Ultra-luxury refurbishment on Madrid's best block.
Rehabilitación de edificio en Recoletos 22 para viviendas de lujo en Madrid
Homes averaging around 400 square metres and an estimated price above 30,000 euros per square metre: each unit would exceed ten million. The ceiling of the Madrid market keeps rising.
Shall we talk about your next transaction?
Contact Horlux & Emuna