The recovery of Madrid’s prime residential market gathered pace at the end of 2016 and since early 2017 Knight Frank’s unique Madrid Prime Residential Index has outperformed our 43-city average with luxury prices accelerating 8.1% in 2018.
The Prime Global Cities Index, which tracks the movement in luxury residential prices across 45 cities globally, registered its lowest rate of annual growth since the final quarter of 2009, when the world was in the grip of the financial crisis.
The main parties have been rebuked for their past behaviour, but political stability wasn’t threatened. Displeasure was registered, but a mandate was also given. The angry red berets got their full say, but the centre held. All and all, a good outcome.
Unlike the mainstream residential market, the prime segment is on a firmer footing. Over the last decade, prices declined 40% in peak-to-trough terms but we are now seeing prices stabilise with Florence and Lucca both recording 1% growth in 2018.
During a person’s lifetime he/she will gather assets, in other words, belongings such as a house or a motor vehicle. These assets and liabilities will form part of a person’s estate. At the death of that person, his/her deceased estate must be administered, in other words, divided, distributed, and controlled by someone.
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