Madrid is the capital of Spain and the third expensive city if we speak about buying a property. The real estate market in the Community of Madrid stood out in 2017 for a slight increase in the price of housing (more than 5%) as well as for solid advances in new project launches that will surpass 37% to exceed 28,000 new homes.
This new construction can be seen in neighborhoods such as El Cañaveral, Valdebebas, Sanchinarro, Puerta de Hierro, or Los Altos de Aluche.
Salamanca, Chamartín, Hortaleza
Neighbourhoods with cheaper homes
Ciudad Lineal, Vicálvaro, Barajas
Price per m² = €2,827
Real Estate Market in Madrid
Some studies suggest that 85 square meter apartments have the best reception among homebuyers in Madrid. The bulk of real estate transactions in this autonomous region usually consist of apartments with two to four bedrooms, a kitchen, a living room, and one or two bathrooms. The buildings, depending on the area, generally have six or seven floors, with more expensive homes on the higher floors. Chalets or private houses occupy a secondary position within the real estate market and tend to be located in outlying zones or towns.
As noted before, the price of housing this year has increased more than 5% in the Community of Madrid. On average, a house of 85 square meters will exceed €200,000, considering that in the second trimester of 2017 the average housing price was set at €2,378 per square meter.
All of this means that now is a good time to invest in the real estate market in Madrid, since the housing market is expected to continue to increase to around 15% in 2017, which will make relatively easy for buyers to find a home in the capital of Spain.
sBest areas to live in Madrid
The Community of Madrid is made up of a central city, divided into several districts, and a number of outlying towns that, according to their zone, are better or worse communicated with the central capital city.
Choosing where to live is a question whose answer depends to a large extent on the family, social, and working life of the buyer, as well as their economic status. In the central zone, the best areas to live are, for example, Salamanca, Chamartín, Hortaleza, Retiro, or Moncloa. The price of housing in these neighborhoods is quite high and it can be difficult to find homes available for purchase. More economical neighborhoods include Ciudad Lineal, Vicálvaro, or Barajas. Some less recommended neighborhoods would be Tetuán, Vallecas, or Usera.
Madrid’s outlying areas are divided into a number of different zones, each divided, in turn, into smaller areas. The northern zone is divided into Tres Cantos, Alcobendas, and San Sebastián de los Reyes, among others. The northwest zone is divided into Pozuelo, Las Rozas, Collado Villalba, and Galapagar, among others. The area around the Henares Corridor is divided into Coslada, Torrejón de Ardoz, and Alcalá de Henares, among others. The southern zone is divided into Leganés, Getafe, Alcorcón, and Fuenlabrada, among others. The zone around the Cuenta del Tajo-Tajuña is divided into Rivas Vaciamadrid, San Martín de la Vega, and Aranjuez, among others. The Alberche-Guadarrama zone is divided into Navalcarnero, Brunete, and San Martín de Valdeiglesias, among others. As is habitual, the northern areas enjoy a higher economic level and higher housing prices. The remaining areas tend to be more affordable, especially those further away from the city center.
For more details or to discuss your Spanish property needs please get in touch by completing the Contact form