Viva Espana – The Richard Gere Effect

Hollywood legend Richard Gere has opened up about his new life in Madrid - after he and his wife, Alejandra Silva, sold off their sprawling $10.75 million Connecticut mansion and upped sticks to relocate to the Spanish capital with their kids.

The 75-year-old actor's wife has since shared a few glimpses into their Spanish adventure on social media, with the pair now opening up in detail about how their lives have changed since their big move to Madrid.

Gere said he and Alejandra are "happier than ever," noting that his wife is overjoyed to have returned to her home country, where she is surrounded by many of her family members.

Madrid has emerged as a coveted global luxury housing destination as investors fuel a real estate boom, seduced by competitive prices and high living standards.

The Spanish capital "is on fire", said Edoardo Corda, founder of estate agency Mi Piso en Madrid, which specialises in high-end properties.

The city has topped for the second year running an annual index by the real estate firm Barnes, considered a reference to measure investor appetite in luxury properties.

"Cosmopolitan, joyful and vibrant," Madrid "has emerged as one of the leading destinations" for the world's "ultra-high net worth individuals", he enthuses.

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