Spain named ‘Second most attractive property destination for international capital in the world’ according to new report

Property paradises such as Benahavís in the south of Spain are thought to have helped in the country’s high ranking on a list of attractive destinations for prime residential property. Photo credit: Tyk / Wikimedia Commons

Spain has long been a dream destination for luxury travellers and investors seeking prime residential development, and the latest report by consultancy firm, Knight Frank seems to confirm this.

In the prestigious annual ‘wealth report’, released on Thursday, March 2, Spain ranks second in the world for attracting international capital in prime property development, outshining many other popular destinations.

Spain’s luxury property havens including Benahavís, Marbella, Madrid and Calvia, secured the country’s high placement on the list, surpassed only by France.

The capital, Madrid, also held its own on the list, being named one of the top 20 cities in the world and the fifth “most exclusive” in Europe. With 106 metres squared of property costing one million dollars, Madrid is the ideal destination for those seeking luxurious homes that exude elegance, comfort, and sophistication.

The report predicts that Madrid’s luxury property market is set to grow even further, with a projected growth rate of four per cent during 2023. Growth in the Madrid property market has been the most pronounced since 2018, proving that the market is resilient and can weather economic uncertainties.