Madrid's most expensive streets in 2021!

Madrid is becoming an Immobilien Oasis in Spain and Europe, where rates in the residential sector remain relatively stable and transactions are returning to growth after the coronavirus crisis. This is based on the new market report by the luxurious Engel & Völkers group. The German company's projections point to "a 20% rise in revenue and price stabilization, while Madrid's recovery rate will be asymmetrical by region and property type." So, what are the most expensive streets in Madrid, according to the survey, in 2021? Let's find out. Let's find out. buy

In 2021 the number of transactions has increased and the market for luxury property searchers in Madrid has increased. 'The sales of second-hand homes in Madrid have been resumed more quickly than anticipated, with transactions expected to continue the and prices sustained,' says Engel & Völkers Madrid's Sales Director Sonia Catalán.

Luxurious housing demand is concentrated in typical Madrid neighborhoods near the city center, including Goya and Recoletos in Salamanca, Almagro (Chamberí), Justicia (Centro) and El Viso, Nueva España and Hispano América, in Chamartín.

"The consumer profile is very diverse, although most families buy main residences. The months of confinement caused by the coronavirus crisis have evoked the need to return home for many customers who purchase to substitute their home. Most buyers are looking for bigger houses to operate with easy access from home to the outside world. Moreover, purchases of investors will increase in 2021, who see the current market as a business opportunity ", underlines the German luxury real estate company's study.

The most sought after streets in Madrid are Salustiano Olózaga, in the district of Recoletos (district of Salamanca) with an average price of 12,000 euros/m2 and a well-known street of Madrid with shops of luxury, Calle Serrano (district of Salamanca) and General Castaños (district of Justicia), where the price is 10,000 euro/m2. The cost of high end properties also reaches EUR 8 000/m2 in the following districts, such as Almagro (Chamberí), Jerónimos (Retiro) y El Viso (Chamartín).

Besides these large properties, there has been a rise in demand for properties with terraces, semi-detached houses with gardens and separate homes that have stimulated the interest in other areas of Chamartín such as Hispanoamérica and New Spain, where houses are more popular than apartments. This is also the case in Ciudad Lineal and Hortaleza, in which premium areas such as Conde Orgaz-Piovra and Arturo Soria will be the object of attention.

Madrid's most expensive streets

Madrid's most expensive streets

Outside central Madrid, areas in the north of the city with prices ranging from 4,000 to 6,000 euros / m2 will be most sought after during the pandsemic, including Mirasierra, Montecarmelo, Puerta de Hierro, Fuentelarreina and Tres Olivos. Apart from the city of Madrid, the prestigious region of La Moraleja remains the highest priced capital in the province, much like El Soto or El Encinar, where prices still hit 8.000 Euros/m2.

Customers in the spotlights of Madrid have also been the municipalities of Pozuelo de Alarcón, Majadahonda, Boadilla del Monte and Las Rozas, Villanueva de la Cañada,Villafranca del Castillo, Villaviciosa de Odón. According to Engel & Völkers, prices ranged from town to town, with Boadilla (7.4%), but Pozuelo drops (-2.8 percent ).

"Some buyers are looking for villas or apartments with terraces and ground floor apartments with gardens because demand is increasing in certain peripheral areas of Madrid. This is a result of teleworking and family priority to ensure a better quality of life at lower rates than in the big city "Bruno Cotta, Engel & Völkers' Sales Manager, points out in the outskirts of Madrid.

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