INSUBCONTINENT EXCLUSIVE:
neighborhood went on sale, more than half of them were bought by wealthy Mexicans.The project, with 25 homes costing up to US$3.25 million
each, is financed mainly by Mexican investors and symbolizes the increasing presence of Latin Americans in the Spanish capital.Since 2020,
investment.Luxury stores flank 19th-century boulevards in Salamanca (Photo internet reproduction))Like other wealthy Latin Americans, they
invest in the city, buying second or third homes and anchoring their savings.A residential building is renovated in front of the Robuchon
investment banker who advises foreigners on real estate and private banking in Spain.Leftist governments in major Latin American nations
the most since 2010, according to preliminary Institute of International Finance data.Although much of that has landed in Miami, linguistic
and cultural affinities have attracted a portion to Spain.The flood of money is changing the face of Madrid: it has boosted housing prices
and created an upscale dining scene.According to consultancy Knight Frank, luxury home prices rose 6% last year, more than in most major
European capitals.In April, they hit a record high for the second month in a row, according to real estate portal Idealista.Luxury stores
springing up at a dizzying pace and are almost always full.Table reservations start at 8 pm, unheard of in a city where kitchens rarely come
of set times for table use, common perhaps in New York but unusual in a country where long after-dinner conversations are a cultural
leafy 19th-century boulevards are lined with upscale restaurants, such as the Michelin-starred Ramon Freixa Madrid and La Tasqueria.The area
has high-end boutiques to make the wealthy from all over the world feel at home.A niche service industry has also emerged to cater to the
individuals in the past two years
BBVA owns the largest bank in Mexico, where its Spanish rival, Santander SA, also has a large presence.Brazilian chef Sandro Silva has
record number of Michelin stars, the French group Robuchon opened a restaurant in Madrid late last year.The arrival of a Four Seasons hotel
and the reopening of the Villa Magna, owned by RLH Properties, a Mexican firm founded by businessman Borja Escalada, have reinforced the
luxury push.In addition, Spanish business schools, such as IE and Iese, have become popular choices for the children of wealthy Latin
(Photo internet reproduction)Previous waves brought wealthy exiles fleeing political turmoil at home, such as Venezuelans escaping Hugo
and Gustavo Petro in Colombia.Many wealthy Mexicans are looking for investment opportunities, said Ximena Caraza, director of Casa de
restaurants.Carlos Slim during an awards ceremony for excellence at the Queen Sofia Spanish Institute in New York in 2022 (Photo internet
reproduction)Carlos Slim, the richest person in Latin America, owns significant stakes in publicly traded Spanish real estate companies
Metrovacesa SA and Realia SA.Carlos Fernandez Gonzalez, who made his fortune in the Mexican beer industry, is the second largest shareholder
and Colombians are among those looking for property, according to real estate agents.Investors benefit from the golden visa program, which
crackdown on gold visas being applied in other European countries.Many of the investors are not just buying homes for themselves.They also
Europe at CBRE, a consulting and research firm.The city is already beginning to compete in luxury with cities like Paris and Berlin, but
with 43 in Paris and 70 in Berlin.Demand is shaking up the high-end real estate sector.GBS, a Spanish financial advisory boutique, has had
to vacate its Salamanca premises for three decades because the owner wants to convert the offices into luxury apartments.The firm has
also changing the way of life in the capital, which used to be characterized by a workday that started at 10 am, lunch at 3 pm, and naps and
