Madrid, March 30 – The exclusive neighborhood of La Moraleja in Alcobendas is experiencing a new golden age, attracting a growing number of international buyers, particularly wealthy Latin American families. This exodus from central Madrid has led to an 11% increase in the cost of plots and homes in the area over the past year.
Madrid: A Global Hub for Luxury Real Estate Investment
Madrid has solidified its position as the world’s leading city for luxury real estate investment, according to the Barnes City Index 2026 report. A favorable business environment, competitive tax framework, and a high quality of leisure and gastronomy have made the Spanish capital an attractive destination for major fortunes, especially those from Hispanic America.
Traditionally, areas like Recoletos, Almagro, and Castellana have been the preferred locations for newly arrived ultra-rich residents. However, those who have spent more time in the city and become familiar with its offerings are now looking towards neighborhoods on the outskirts of the central core.
The Allure of La Moraleja: Space, Security, and Exclusivity
La Moraleja, located in the municipality of Alcobendas, offers more space, enhanced security, greater exclusivity, and lower population density – factors that have significantly drawn these new residents. In recent months, international interest in this neighborhood has surged.
While Engel & Völkers reports that the majority of closed transactions in La Moraleja (78%) are with national clients, international buyers now account for 22%, showcasing a more diversified profile than ever before. “We have observed this situation particularly with clients who bought in the Salamanca neighborhood a few years ago, but upon realizing the limited space, garage complexities, lack of swimming pools, and green areas, they preferred to move,” stated Sandy Rabinovich, sales director for Engel & Völkers La Moraleja-Madrid Norte.
Rabinovich emphasized that these groups appreciate the region and see its potential, but they are accustomed to larger homes with more green spaces, making La Moraleja an ideal fit for their preferences. Another crucial factor in this shift is the international unfamiliarity with the area. “Foreign buyers often search in Serrano, Colón, or Bernabéu, which are the most prominent areas if you don’t know the city. However, once they live here, they realize there are other areas that can offer equal or better quality of life.”
La Moraleja strikes a unique balance between a natural environment, international schools, and accessibility. Pozuelo de Alarcón is also mentioned as an attractive alternative, though its primary buyers are American and Scandinavian.
Buyer Profiles and Preferences
National clients in the area seek practical options such as 3 or 4-bedroom apartments, spacious terraces, good communal areas, and penthouses or ground-floor units with gardens, particularly in El Soto de la Moraleja and El Encinar de los Reyes.
In contrast, foreign buyers show a clear preference for modern, move-in-ready chalets with large plots, with an ideal size of 10,000 square meters.
Beyond Latin Americans, La Moraleja has seen buyers from a diverse range of countries in 2025, solidifying its status as a global hub. This is especially true for expatriate executives and families prioritizing security, education, and quality of life. Italy (10%), Portugal (10%), and China (8%) have led the operations managed in the area.
The professional profile of these new residents includes athletes and major entrepreneurs, who continue to show interest. However, Rabinovich also notes that young families and executives are increasingly choosing to buy in La Moraleja and “want to stay there.”
Barnes, an international luxury real estate agency, also observes this upward trend in international interest. “High-end residential environments like La Moraleja offer large properties, green areas, and proximity to the city center, something difficult to find in other European capitals,” said Alvise da Mosto, managing partner of Barnes Spain.
The annual report by Knight Frank, which highlights Madrid’s consolidation as a prime residential benchmark, concurs that these characteristics are “ideal for those seeking tranquility, security, and privacy, without sacrificing proximity to central Madrid and its main access routes.” The area’s significant concentration of international schools in Europe, extensive sports offerings (including prestigious golf, tennis, and paddle clubs), and a continuous security patrol also contribute to its appeal.
Lower Prices and Rising Values
La Moraleja has positioned itself as a quality alternative for those seeking more space, gardens, privacy, and premium residential living without moving far from the city, “at a cost between 20% and 30% lower than central areas,” according to Engel & Völkers. This international buyer interest is a key factor in the area’s price surge, which has seen an 11% increase in the last year.
Rabinovich also points to an “evident generational change,” with many original homes being sold and undergoing significant renovations. This has led to new constructions or comprehensive rehabilitations, further contributing to rising prices. “An old house that sold for 3 million, after renovations, can reach 9 million,” she stated.
In 2025, demand has been particularly notable in Camino del Sur (7,700 euros per square meter), Paseo de la Marquesa Viuda de Aldama (8,555 euros per square meter), Paseo del Conde de los Gaitanes (10,054 euros per square meter), Camino de la Fuente (7,700 euros per square meter), and Camino Ancho (8,606 euros per square meter). The number of transactions has doubled in Camino del Sur, while areas like Paseo de la Marquesa Viuda de Aldama or Conde de los Gaitanes have seen reduced activity but maintain more stable and higher prices.
Source: https://www.abc.es/espana/madrid/fortunas-latinoamericanas-20260317035229-nt.html
