Diego Simeone owns more than 180 apartments in Madrid, with a combined value of €40m, according to an investigation broadcast by the Spanish television programme Equipo de Investigacion.
The report examined the real-estate investments of the Atletico Madrid manager, who is one of the most successful coaches in LaLiga. Simeone has been in charge of the club for more than 14 seasons and has won eight trophies during that time.
His honours include two league titles, one Copa del Rey, one Spanish Super Cup, two Europa Leagues and two UEFA Super Cups.
Simeone’s annual salary is currently reported to be more than €29m. French newspaper L’Equipe has ranked him as the highest-paid coach in the world.
The Argentine has built considerable wealth in recent years and has invested part of it in property. The programme said his portfolio in Madrid now extends to more than 180 homes, with the assets valued at €40m.
Maestre, who was quoted in the report, described how buying large numbers of properties could make further investment easier.
“Once you have money, it becomes much easier to purchase multiple properties at once,” Maestre said. “If you buy ten properties simultaneously, the seller might offer a discount, reducing a house originally valued at 200,000 euros to just 50,000 euros. This cycle constantly expands.”
Maestre also made claims about the property interests of relatives of prominent Spanish political figures. He said the in-laws of Madrid mayor Jose Luis Martinez-Almeida “own buildings across Madrid used for property speculation”.
He also said the wife of Alberto Nunez Feijoo, the leader of Spain’s Popular Party, “operates a company involved in buying and renting properties”.
The programme’s discussion focused on the relationship between large-scale property ownership and access to housing. Maestre argued that owning a substantial number of homes for investment should not receive the same legal protection as owning a property for personal use.
“This should not receive the same legal protection as the right to a home for personal habitation,” he said.
He argued that the right of someone such as Simeone to operate 180 homes should not be protected to the same extent as an individual’s right to own a house for their own residence.
Maestre also called for higher taxes on wealthy people, saying this could make property investment less attractive and help return housing to its primary purpose: habitation.
