Are you thinking about buying a flat in Madrid? In this post we will tell you about the best neighbourhoods to live in Madrid.
Obviously, the choice of area will depend on many factors, including your needs, financial situation and future plans. Families (or future families) will give priority to quieter areas, with green spaces and good infrastructure for children, while couples without children or more urban singles will prefer other neighbourhoods in Madrid close to leisure areas.
Your financial situation will also determine the neighbourhood in which you buy a flat in Madrid. According to the real estate portal Fotocasa, in the first quarter of the year, second-hand housing prices have grown by 3% to 2,618 euros per square metre, 46.5% above the Spanish average (1,787 euros).
Below, we leave you an analysis of five districts of Madrid, although if you want to check the average price per square metre of housing for each metro station, you can check the following link on idealista.com
1. The Salamanca District, the area for those with the most purchasing power
When considering the best areas to live in Madrid, there is Salamanca, a district that includes the areas of Recoletos, Goya, Fuente del Berro, Guindalera, Lista and Castellana, and which has traditionally been the residential area for citizens with greater purchasing power. In 2017, the average price of second-hand homes in the area was €5,479/m2, according to data from the Madrid City Council .
A plus point for buying a flat in this area of Madrid is the wide range of leisure activities in the area, the most exclusive shops in the city and the stately buildings spread throughout the district.
2. Retiro, for those who want green space and more tranquility
The Retiro Park is a jewel and a lung for the city and, within the district of the same name are the neighborhoods of Pacífico, Adelfas, Estrella, Ibiza, Jerónimos and Niño Jesús, some of the best areas to live in Madrid if what you are looking for is tranquility and green spaces.
With Atocha train station just a short walk from the centre, you'll find groves, promenades and the Prado and Thyssen Museums, the jewels in the capital's cultural crown.
The average price per square metre of used housing in the Retiro district is around 4,353 euros, so this green tranquillity still has a significant price, especially in Jerónimos, the most sought-after area of the district by far and which further increases the cost per square metre.
3. Center, for those who want leisure and cultural offerings
If what is important to you is to be in the epicentre of leisure and culture in Madrid, the Centro district is lively and one of the best areas to live in Madrid if you are young, cosmopolitan and want to experience everything the capital has to offer.
The Centro district includes the neighbourhoods of Palacio, Lavapiés, Huertas, Chueca, Malasaña and Sol, all of them full of bars, shops and cultural venues that make life never stop, especially at weekends. On the other hand, during the week it is a very charming neighbourhood to walk around, where you have all the most modern and alternative cultural offerings. This bustle has made the average price of second-hand housing around €4,599/m2.
4. Fuencarral – El Pardo, for those who want to live in Madrid without living in the city
This district, which includes the neighbourhoods of El Pardo, Fuentelarreina, Peñagrande, Pilar, La Paz, Valverde, Tres Olivos, Las Tablas, Mirasierra, El Goloso and Montecarmelo, is far from the hustle and bustle of the city and is well connected to the main roads in the capital. In addition, commuter train and metro stations connect with key points in the capital and the average price per square metre is around 3,174 euros, although there are quite a few differences depending on the area.
With large green areas (less than half of which is urbanised) and a wide variety of homes, from residential neighbourhoods to housing estates, it is the option to buy a flat in Madrid without the hustle and bustle of the city.
5. Vallecas, the area with the most affordable housing
To get below 3000 euros per square metre we have to move away from the centre and we want to give you an "economical" alternative to consider. The legendary Vallecas neighbourhood was a town absorbed by the growth of the capital, which means that it still retains that aura.
Streets where everyone knows each other and good communication with the rest of the city, despite being somewhat far from the nerve centre of the capital, make Vallecas a good option to buy an apartment in Madrid when our budget is not very high .
The average price per square metre is €2,147, although in its most modern area, Ensanche de Vallecas, prices rise to an average of €2,506.
In this post we have analyzed five of the 21 districts of Madrid, although as we indicated at the beginning of the post, in reality there are no better areas to live in Madrid, but rather areas that are more suitable to your personal situation.