Madrid: One of the Spaniards’ Favorite Cities to Buy a Second Home

Did you know that around 2.9 million households in our country report to have a second home? This is indicated by the latest census published by the National Statistics Institute (INE).

These figures confirm that Spain is one of the countries in Europe with the highest percentage of secondary homes. But… What aspects do buyers consider? What is their favorite city to acquire this type of property? We analyze this below.

Increase in demand for buying second homes

According to the European Central Bank (BCE), Spain stands out for having one of the highest percentages of additional homes. Moreover – according to the study “Profile of Second Home Buyers” conducted by Fotocasa – the demand for these properties returned to 2017 levels.

Aspects Spaniards consider when looking for a second home

The aforementioned report also indicates that, for Spaniards, it is essential to have a second home to go to during vacations or weekends. When searching for one, they consider several factors, including:

• The potential to rent it out
• The possible maintenance costs
• The specific features of the property
• The average price of properties in the area

However, one aspect stands out above the others: the proximity of this additional home to the primary residence. According to the INE, out of the 2,916,000 second homes in Spain, around 1,030,000 are in the same province as the main residence.

Madrid is among the preferred cities to acquire a second home

Madrid ranks as the second most sought-after city to acquire a second home, only behind Irún, in Guipúzcoa.

Specifically, the municipalities of Pozuelo de Alarxón y Leganés concentrate 32% and 28% of these properties, respectively.

The factors that have generated so much interest in Madrid? Undoubtedly:

• Its safety and stability
• The rich culture and leisure
• The job and economic opportunities
• The high quality of life and available services

Trust KM2 Real Estate Services to sell your property

After presenting you with these promising numbers, if you are thinking of selling your properties in the short to medium term, it is time to trust KM2 Real Estate Services.

Thanks to our track record, we can confirm that we are specialists in marketing properties in the best areas of Madrid and Barcelona. We have a team of business advisors who will not stop until they sell your property.

Shall we start? We are ready. Looking forward to seeing you at:

• Rambla Cataluña 60, 5º2ª, Barcelona.
• C.Serrano, 51, 4ª Pl. Derecha, Madrid.