Real-estate luxury: This Spanish city has become the world's top millionaire magnet

The high-end existent property marketplace is shifting, and 1 European metropolis is astatine nan forefront of this trend.

Madrid has claimed nan apical spot successful nan 2025 Barnes City Index, a world ranking of nan astir sought-after cities among ultra-high-net-worth individuals seeking attractive, practical, and financially savvy locations.

Spain's superior roseate to nan apical owed to respective factors. Aside from a laid-back manner and pleasant weather, nan metropolis besides offers top-notch healthcare, an businesslike and well-oiled carrier system, value acquisition and debased crime rates.

Madrid besides ranks 4th among European cities successful position of nan number of multinational HQs.

What's nan value tag for Madrid's luxury existent property market?

The value tag is arsenic precocious arsenic €7.000/square metre (m²) for a premium flat successful nan charming Chamartín district, aliases €1 cardinal for a 100 m² level successful nan charming Chamberí district.

“Madrid's entreaty arsenic a centre for high-end existent property continues to grow", says Barnes Spain head Alvise Da Mosto. "With a favourable finance ambiance and a dependable summation successful nan number of overseas buyers, nan metropolis is consolidating its status".

However, Da Mosto adds that Madrid's affirmative position successful nan existent property marketplace could beryllium successful peril owed to nan Spanish government's plans to taxation non-European buyers' spot purchases.

Why is Monaco still a favourite contempt astronomical prices?

The French-speaking microstate nestled connected nan Côte d'Azur is location to immoderate of nan highest existent property prices successful nan world, ranging from €40,000 to €100,000/ m².

Rates person grown by astir 38% successful nan past 10 years. With €1 million, buyers mightiness only beryllium capable to spend a 25 m² workplace successful an mean luxury building.

But Monaco remains a favourite among nan able owed to its estimation for being very safe, including complete CCTV sum and nan highest ratio of constabulary officers per inhabitant successful nan world.

And, of course, it charges nary income, superior gains aliases inheritance taxation for individuals.

Milan: Matching prestigious property and 'reasonable' prices

Milan rounds up nan apical five, conscionable aft Monaco. Italy's financial superior climbed 17 spots from past year.

According to Barnes, €1 cardinal should beryllium capable to onshore you a 120 sq m² flat successful nan Centro Storico, Milan's aged medieval centre.

The Lombard hub snatched a top-five spot acknowledgment to a "highly diversified market" that offers renovated century-old palaces arsenic good arsenic sleek modern residences equipped pinch top-level amenities.

Barnes calls nan city's prices "reasonable" for prestigious existent property (from €9,000/m² to €21,000/m² for exceptional properties)

“In little than a generation, Milan has dusted disconnected its image to found itself arsenic 1 of nan awesome destinations connected nan world representation of prestige existent estate. The value of life successful its historical centre is incomparable”, says Barnes Italy Business Development Luca Pietro Ungaro.

Madrid and Milan driving 'silent revolution' successful upscale existent estate

The Index describes a caller inclination successful nan luxury existent property marketplace whereby history and practice matter much than nan sole infrastructural value.

“Madrid aliases Milan meet nan expectations of ultra-high net-worth individuals, who for illustration authentic destinations wherever they tin immerse themselves successful nan creation of living, while benefiting from coagulated fundamentals, specified arsenic value schools and universities, modern infrastructure and important value-added potential".

The existent property institution says investors are being driven by nan "seven Rs": resell, repair, renovate, rehabilitate, reuse, recycle and reinvent.

“We're witnessing a silent revolution, a craze for movable and immovable assets that person a past and a soul", nan study reads, noting that customers are now looking for properties that person been renovated aliases transformed, maximising their worth while respecting their history.

When it comes to different cities, nan Greek superior of Athens jumped an awesome 17 spots to spot 16th from past year's 33rd place.

Meanwhile, Lisbon dropped to 25th pursuing 2024's singular 8th place.

Washington, D.C. witnessed a akin decline, slipping down 30 spots to rank 50th successful 2025.