> **来源：[研报客](https://pc.yanbaoke.cn)** ```markdown # Madrid Insight 2025/26 总结 ## 核心内容 Madrid has established itself as a global hub and a prime residential market leader, driven by economic growth, a strong brand identity, and a growing appeal to high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs). The city is experiencing a surge in demand, particularly from international buyers, and is poised to continue its rise as a top-tier luxury real estate destination in Europe. ## 主要观点 - **全球地位提升**：Madrid is emerging as a key player on the world stage, with a growing reputation as a business, cultural, and lifestyle destination. - **经济表现强劲**：Spain's economy has shown consistent growth, with Madrid being the primary engine of this expansion, contributing nearly 20% of the national GDP in 2023. - **国际投资增长**：Madrid attracts a significant share of foreign investment, with 45% of prime residential transactions coming from international buyers in 2025. - **品牌化住宅兴起**：Madrid is leading the trend of branded residences, which offer a unique blend of luxury and convenience, often commanding a premium of 25% to 35% over non-branded properties. - **旅游与基础设施发展**：Spain is the second most visited country in the world, and Madrid is set to benefit from increased tourism and major infrastructure projects, including a new rail line to Lisbon and the expansion of Madrid-Barajas Airport. ## 关键信息 ### 经济与增长 - Spain's GDP growth in 2025 is projected at 2.9%, outperforming other major European economies. - Madrid is the driving force behind Spain's economic performance, contributing almost 20% of the national GDP in 2023. - The economy is expected to grow at 2% in 2026, maintaining its lead over other European capitals. ### 为什么选择马德里？ - **阳光与气候**：Madrid enjoys nearly 3,000 hours of sunshine annually, making it Europe's sunniest capital. - **文化与生活品质**：The city is known for its rich cultural heritage, world-class dining, and educational institutions, including IE Business School, ESADE, and IESE, which rank among the top 20 globally. - **体育与活动**：Madrid has hosted major international events such as the NFL match and the Formula 1 Spanish Grand Prix, enhancing its global profile. - **交通与连接性**：The city has excellent air, rail, and road links, and a new direct rail line to Lisbon is set to open in 2027. ### 谁在购买？ - **国内与国际买家**：Madrid's prime residential market is split between domestic and international buyers, with the latter now accounting for 45% of transactions. - **主要来源国**：The largest share of international buyers comes from the UK (39.5%), followed by the USA (13.1%), Norway (6.5%), and France (6.3%). - **美国买家增长显著**：The number of US buyers in the market has increased dramatically, from 0.5% in 2018 to 8% in 2025, driven by political stability and Madrid's global appeal. ### 需求展望 - **年轻一代偏好房地产**：29.8% of Next Gen HNWIs (aged 18-35) prioritize prime residential property over classic investments like cars or art. - **全球财富增长**：The number of individuals with a net worth of over $10 million increased by 4.4% in 2024, further fueling demand in the prime market. - **价格与供应**：Prices in Madrid's prime market have risen by 5% in 2025 compared to 2024, with an expected 4.5% increase by 2026. Supply is limited, and new developments are scarce due to regulatory constraints and land scarcity. ### 价格与交易 - **主要区域价格**：Salamanca remains the epicenter of the prime market, with average prices ranging from €13,000 to €15,400 per square meter. - **其他热门区域**：Chamartin (€9,700–€11,000), Chamberí (€11,300–€13,300), Centro (€11,300–€13,300), and Retiro (€14,500) are also key areas. - **La Moraleja**：This exclusive area outside the M-30 ring road has average prices between €6,600 and €7,100 per square meter, offering a blend of luxury and privacy. ### 供应情况 - **新开发项目有限**：New-build supply is constrained by local regulations and limited land availability. - **供应减少**：In Salamanca, new-build supply decreased by 20% between 2020 and 2025. - **需求转向成熟物业**：Investors are increasingly looking for older, well-refurbished properties rather than new developments. - **高端住宅市场**：Homes priced over €10 million are becoming more prominent, especially in new and existing stock. ### 品牌住宅趋势 - **品牌住宅崛起**：Branded residences are becoming a key segment in Madrid's luxury market, offering a five-star hotel-like experience. - **价格优势**：Branded residences typically command a 25%–35% premium over non-branded properties, with average prices reaching €18,000/sqm and up to €25,000/sqm for exceptional properties. - **国际品牌入驻**：Chanel has chosen Madrid for its largest European flagship store, and other prestigious brands like Four Seasons and SLS are expanding their presence. ### 未来展望与机遇 - **市场韧性**：Despite regulatory changes, Madrid's prime market remains resilient due to strong demand and a stable investment environment. - **长期增长潜力**：Madrid is expected to maintain its growth trajectory, supported by its unique mix of economic stability, legal certainty, and quality of life. - **机构与私人投资者兴趣**：Both institutional and private investors are showing a growing appetite for prime residential property in Madrid. - **城市品牌建设**：Madrid has successfully built a strong city brand, attracting a diverse and global buyer base. ## 结论 Madrid is not only a European economic powerhouse but also a rising star in the global luxury real estate market. Its unique combination of economic strength, cultural appeal, and strategic development initiatives positions it as a compelling destination for both domestic and international buyers, with a strong outlook for continued growth and investment. ```