Uber-rich Latinos transforming Madrid into the new Miami

euronews (in English)

Dozens of families from Mexico, Argentina, Colombia and Venezuela have chosen Madrid as a residential and investment destination, transforming the real estate, cultural and leisure fabric of the Spanish capital.

Transcript

00:00 In the heart of the Salamanca neighborhood of Madrid, a flat with two en suite bedrooms priced at over a million euros,

00:08 and it won't last long on the market. Flats like these are long coveted by wealthy Latinos who are turning Madrid into a new Miami.

00:27 Marcela Perez is a decorator and designer charged with decorating the flats of Venezuelans, Mexicans and Colombians,

00:33 anyone who comes to the city, according to her clients' taste.

00:54 Octavio Rojas has been in Madrid for 15 years. He leads the Association of Mexican Businessmen in Spain

01:00 and has been facilitating their moves and investments in Spain.

01:04 Five-star hotels and high-end businesses are thriving in the heat of new Latin migration.

01:24 The new neighbors of Madrid are encouraging leisure and high culture in the city.

01:29 In art galleries like these, 90% of the clients are already Latin American collectors.

01:35 Popular Latin American restaurant chains have set up shop in Madrid to satisfy the tastes of their compatriots

01:42 and bring their flavors closer to the local population.

01:46 The arrival of a large Mexican population has helped the people in the main bars to demand tequila and mezcal.

01:56 And now we have big chefs in restaurants who consume Mexican distillates.

02:02 Madrid's newest Latinos are here to stay, and thanks to them, Madrid is today a little more cosmopolitan.

02:10 [BLANK_AUDIO]

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