There are market issues that interest me particularly because I don’t just observe them as a professional, but they also affect me deeply on a personal level.
I, too, am the daughter of immigrants. And perhaps that is why I have always paid particular attention to the deep-rooted relationship between Spain, Latin America and heritage.
In recent years, we have seen very clearly the impact that large fortunes from Latin America have had on the luxury property market in Spain, and particularly in Madrid.
Madrid began to establish itself as a particularly attractive destination for high-net-worth individuals from Mexico, Venezuela, Colombia, Argentina and Brazil, drawn by a combination that is very difficult to match: language, cultural affinity, legal certainty, quality of life, good international connections and a premium market that still offered value compared to other major capitals.
By 2025, Latin American buyers already accounted for 26 per cent of prime property buyers in Madrid, within an increasingly internationalised market.
But I am also very interested in observing what happens when this trend is applied to Galicia.
Because here, as well as seeing the influx of foreign capital from various sources, there is another very specific phenomenon: the ‘return’ effect.
And this effect does not always mean returning permanently.
Often it has to do with something far more emotional and, at the same time, deeply rooted in one’s heritage: the desire to own a large house in Galicia to visit whenever one feels like it, to spend long periods there, to bring the family together, or even to envisage a future retirement here.
In Galicia, we have some very visible examples of this. The case of Avión, in Ourense, is probably one of the best known, with the Vázquez Raña family serving as a symbol of that emigrant success linked to Mexico and of that summer return which continues to have a very powerful impact on the region. Even figures such as Carlos Slim have spent summers there as guests of the family, turning this small Galician municipality into a truly unique example of the bond between Galicia and the Americas.
This return is expressed in the desire to maintain a genuine connection with the land, to return every summer and to invest in heritage, quality of life and a sense of belonging.
And this is where Galicia offers something very special.
Because it is not just about buying a home.
It is about buying identity, memory, landscape and a particular sense of belonging.
It is about returning to one’s roots.
