Rich Latin Americans Transform Laid-Back Madrid Into a New Miami

Wealthy Mexicans have spent more than €700 million on Spanish real estate and construction since 2020, transforming Madrid into a new Miami and creating a sizzling hot high-end dining scene.

June 2, 2023 . 8:18 AM

1 min read

Wealthy Mexicans are investing in Madrid, buying second or third homes and parking their savings.
Luxury property prices in Madrid jumped 6% last year, more than in most large European capitals.
New restaurants are sprouting across Madrid's fancy Salamanca neighborhood at a breathtaking pace.
Spanish business schools, like IE and Iese, have become popular options for the children of wealthy Latin Americans families.
The surge in Latin American investments in Madrid is changing the face of the city.