Madrid Luxury Property Prices Soar as Rich Latin Americans Flood Market

When apartments in a luxury building on Calle Padilla in Madrid’s chic Salamanca district were put on the market a few months ago, more than half of them were snapped up by wealthy Mexicans.

The project, with 25 units each priced at as much as €3 million ($3.25 million), is being bankrolled primarily by Mexican investors and stands as a symbol of the increasingly visible presence of the Latin American nation’s citizens in the Spanish capital.