Spain’s capital is one of the largest cities in Europe and millions of people choose to visit it every year. There are students, professionals, and plain tourists that flood the city at all times. This influx of people has led to some pretty steep prices, even though the Financial Crisis managed to bring them back closer to earth. Right now (April 2020) the average price per square meter in Madrid is 3741 Euros, down from 4000 Euros at the start of the year. Without further ado, here are the most expensive districts in Madrid:
Retiro – 4.555 €/m2
Retiro’s most important component is the huge park, which bears the same name. If you enjoy jogging, taking walks in nature, or have to walk a dog every day, you might want to consider living in the vicinity of the park. The Retiro district itself is a nice place to live, relatively inexpensive, and residential for how central it is. The area is great, and not too fancy with a lot of normal, locals living here. If you don’t want to spend a fortune, but want a great location, you should definitely consider living here.
Centro – 5.026 €/m2
Centro, as the name suggests, is the inner city center. Interestingly, it’s not the most expensive district in town, like in most other European cities. Here you will find some of the more touristy things the city has to offer, like Plaza Mayor, Palacio Real de Madrid, and Puerta de Toledo. The architecture and vibe here are grandiose and polished and if you want a luxurious experience, you might want to check some property here. However, do keep in mind that it’s crowded and loud and not ideal for living. It’s more of a touristy/business area.
Chamartín – 5.118 €/m2
Chamartín is north of the center of Madrid and this is the area where the wealthy people choose to live. You won’t find too many tourists here, but rich locals instead. The infrastructure is great, and this district is connected to the rest of the town by convenient roads and the metro. If you want a more local, but affluent experience, this is an area to consider. Here you will find some nice restaurants and bars too. If you are a football fan, you will be pleased to know that the Real Madrid stadium is here.
Chamberí – 5.386 €/m2
Chamberí is arguably the cultural hot spot of Madrid. You will find numerous museums, art galleries, and concert venues here. It’s located just north of the city center and is also well connected to the rest of the city. If you want to experience everything that Madrid has to offer, this is a good place to stay. It’s touristy, but not as much as the Center, it’s residential, but not far away from everything. You can get wherever you want with just public transport, or even on foot.
Salamanca – 5.815 €/m2
Salamanca is a historical neighborhood, just north of Retiro. Here you will find Plaza de Toros de Las Ventas as well a few museums. It’s a touristy area, very well known for its shopping. If you plan on spending a lot of money while in Madrid, you might want to spend some extra and move here, where all of the fancy shops are located. When it comes to living here, it’s probably nice if you want to spend that much. However, there are much nicer areas that are more affordable and laid back.