Madrid emerges as housing destination for the richBy Diego Urdaneta / AFP, MADRIDMadrid has emerged as a coveted global luxury housing destination as Latin American and US investors fuel a real-estate boom, seduced by competitive prices and high living standards. The Spanish capital “is on fire,” said Edoardo Corda, founder of estate agency Mi Piso en Madrid, which specializes in high-end properties. Colliers managing director Antonio de la Fuente said political upheaval back home explained why Madrid has leapfrogged Miami as the No. Although an eye-watering sum for most Spaniards, who struggle to rent or buy in a housing crisis that is consistently a top concern for the population, the numbers attract luxury capital. As the minority coalition struggles to pass legislation in parliament, the latter proposal is unlikely to become law — “fortunately for this country and for Madrid,” De la Fuente said.
