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Vista Alegre, Ibiza. Property courtesy Pinkwater Select

Madrid’s luxury residential and rental market is the second fastest growing market in Europe.

A year-on-year price increase of 6.2% puts Madrid’s market behind only Monaco’s (7.9%), according to Prime Global Cities Index.The capital’s luxury residential market is the second fastest growing market in Europe.

Across Europe, prices have risen by 0.8% on average; luxury holiday rentals are also on the rise.

Home rentals between €3,000 and €8,000 are up 10% across the country.

Holidaymakers heading to Ibiza are the most likely to opt for a luxury break, while upmarket short-time rental properties stood at 80% occupancy in Spain throughout July.

For more Spanish and other European properties, visit Pinkwater Select