While in 2025 Madrid was still regarded as a "potential candidate to lead growth in Southern Europe", a year later it has moved beyond that status to secure a position of its own on the global stage. This is reflected in the latest Luxury Homes report by Colliers, which reveals that 41% of luxury homes currently for sale in the capital are priced at more than €5 million.
This year's report highlights the progress of Madrid's luxury residential market towards a new stage of greater maturity. The study identifies 176 new-build homes for sale with prices above €2 million, divided into four categories: Premium, High-End, Ultra High-End and Trophy. "Supply has increased by 16% compared with the previous year, while the average price has reached €17,679/m², 14% higher than in 2025," the report states.
This growth is particularly notable in the upper price brackets. Madrid now has 72 homes priced above €5 million, compared with 49 in 2025, representing an increase of 47%.
A new category: Trophy
One of the main additions to the Luxury Homes 2026 report is the Trophy Homes category, which includes properties with asking prices above €10 million. The study identifies 24 homes within this segment, accounting for 14% of the luxury housing market, with an average asking price of around €13 million and an average value of €22,453/m², 30% higher than the Ultra High-End segment. The most expensive property analysed is listed at €17.88 million and is located in the Salamanca district.
"The most significant change we've observed this year is not simply that Madrid has more expensive homes, but that a clearly differentiated segment has emerged at the very top of the market. The 72 homes priced above €5 million, and especially the 24 Trophy properties, demonstrate demand capable of supporting increasingly sophisticated products. As prices rise, buyers become more demanding, and factors such as uniqueness, privacy, construction quality and services become increasingly important," explains Victoria García-Carranza, Residential Sales Advisory Director at Colliers.
Luxury expands its reach in Madrid
The market's growth has also been accompanied by a broader geographical distribution of supply. The number of developments currently on the market has increased from 22 to 36 in just one year, representing growth of 64%.
The Salamanca district remains the leading market, with 17 developments, although its share of total supply has fallen from 55% to 46%.
Centro-Justicia has recorded the strongest growth, rising from three to eight developments and now representing 22% of total supply. Chamartín-El Viso has expanded to five developments, while Chamberí has increased from five to six.
As a result, almost 40% of developments are now located between Centro-Justicia and Chamartín-El Viso, confirming that Madrid's luxury residential market has expanded beyond the traditional boundaries of the Salamanca district.
"The shortage of exceptional properties in the most established locations is encouraging the market to look more closely across Madrid. At the high end of the market, it's no longer enough to talk about neighbourhoods. The street, the building, the views, the orientation and the level of privacy can create significant differences in value within just a few metres. Location remains critical, but it is the micro-location that ultimately defines the product," says García-Carranza.
Branded residences enter a new phase
Madrid's growing international appeal is also driving the expansion of branded residences. The capital currently has 52 completed units, 103 units being marketed, and a further 30 homes in the pipeline, bringing the total number of identified branded residences to 185.
