Thursday, February 23, 2023
HousinGo Real Estate

Which are the best neighborhoods to live in Madrid?

Madrid is in fashion, but it is not a passing trend, but the consolidation of an attraction that for years has put it on the map for tourists, but also for investors.

In addition to its praised offer in gastronomic and nightlife, artistic and cultural heritage, the capital of Spain stands out above other European cities as a focus of real estate investment.

Specifically, according to recent data from Observatorio Inmobiliario, Madrid is placed as the second European destination, behind Berlin, in foreign investment in living, which is estimated at more than 1,400 million. Barcelona, with a seventh place and 900 million, is in the bottom of the ranking.

By living we are referring to the purchase of living spaces to house students, the creation of tourist apartments, shared-use housing and other solutions. This is a booming sector in Madrid and serves to gauge the real estate strength of a city like Madrid.

Everyone wants to come to Madrid

Also the rental boom, with very tense figures, speak of an unprecedented demand that translates, for example, in a lack of about one hundred thousand beds for students. This is why the owners now have the upper hand and are multiplying their investments.

But apart from the real estate ups and downs and their trends, Madrid is also a city to live in, to enjoy its charms. This is what we believe in HousinGo by David de Gea, specialist in buying and selling and renting properties in the Barrio de Salamanca of Madrid, and that is why we offer you this brief guide with the 5 best districts to live in Madrid.

Barrio de Salamanca: distinction and luxury stores

One of the most prestigious areas of Madrid since it was promoted by the Marques de Salamanca (which gives its name to the neighborhood), within the Plan de Ensanche de Madrid in 1860. It was then projected an area inspired by the style of Baron Haussmann of Paris, with urban planning will of order and street layouts in blocks that promote a pleasant residential life and human scale.

It is a stately district that maintains its essence today, with many nineteenth-century buildings, which give it a special character. As anyone who walks along its most distinguished arteries, such as Velázquez and Serrano streets, will be able to see.

The latter is considered the Golden Mile, an authentic high street where the main fashion brands have their physical headquarters, from Stella McCartney to Kenzo, including Versace and Armani.

In addition to luxury hotels and the most elegant jewelry stores in the city, the Barrio de Salamanca is known for its high purchasing power profile, whose characteristics are changing in recent years.

While areas such as Lista and Goya respond to the profile of national buyers and residents, Recoletos and Castellana are opening up to foreign investment, led by fortunes from countries such as Venezuela and Mexico.

Barrio de Salamanca is full of luxury homes and a series of renovations can turn these apartments, which already have a strong personality, into real estate jewels, either to live in them or to invest in the future.

Retiro: the lung of Madrid

Among the best neighborhoods in Madrid to live in is undoubtedly the Retiro district, which unfolds around the famous park that gives it its name. A very large area in which not everything is Retiro, as the district extends from Puerta de Alcalá to Pacífico, bordering Puente de Vallecas and its Avenida de la Albufera.

Thus, it combines aristocratic and dreamy neighborhoods such as the Jerónimos, where the Prado Museum is located, with other more humble ones such as the neighborhood of Estrella.

It is also among the best neighborhoods in Madrid to stay, as it concentrates in a few meters some of the largest cultural offerings in Europe, located in what is known as the Paseo del Arte, which includes the Prado Museum, but also the Thyssen, Reina Sofia and CaixaForum, all within a stone's throw of the Botanical Garden, the Royal Spanish Academy and the lung of Madrid, formerly on the outskirts, today in the heart of the city: the Buen Retiro Park.

In addition, the streets of Ibiza or Sainz de Baranda, perpendicular to Menéndez Pelayo, have an enviable gastronomic offer, as well as some of the liveliest terraces of the city, much coveted by quality tourists and proud residents. Not far away, there is a wonderful residential oasis in the heart of Madrid nurtured by high-end villas: the El Retiro neighborhood.

Chamberí: the most elegant "casticismo"

One of the most representative neighborhoods of Madrid, loved by the locals and that boasts with tradition, is Chamberí. It extends from the Castellana to Princesa Street, which marks its border with Argüelles, and has a powerful cultural and gastronomic offer.

The Canal Theaters, the Sorolla Museum, Galileo Galileo street with its classic concert venues, as well as the Alburquerque and its Clamores hall, on the side of leisure and culture.

And gastronomy and bar culture reach paroxysm in the mythical Ponzano street, as well as in its highly appreciated Olavide square, which in spring and summer is a hive of neighbors and tourists, especially nationals, lovers of the neighborhood and its attractions. The restaurants on Zurbano street and their Michelin stars are also very popular.

Chamartín: a neighborhood to keep in mind

Although it does not always appear in the lists of the best neighborhoods in Madrid to live in, Chamartín is consolidated as an option to consider, even more so with the possible boom that the culmination of Operation Chamartín, now known as Madrid Nuevo Norte, may bring. This study offers interesting data on the economic impact it will have on the city.

The area has a large number of green areas, residential areas designed for family life and even an exclusive neighborhood located among the most sought-after in Madrid: El Viso. Reflecting its heterogeneous character, it has more popular areas but well-stocked with services and well-appointed homes such as Prosperidad, with not so high prices that attract families with children looking for a mid-budget investment.

Centro: the neighborhood of a thousand and one opportunities

Despite being the oldest neighborhood in the city, or perhaps precisely for that reason, it is the liveliest. Thousands of tourists pass through it every day, attracted by the charms of Puerta del Sol, Gran Vía, Chueca, Malasaña or Lavapiés, but also by the Madrid of the Austrias, which lost one of its most illustrious neighbors, Javier Marías, and to which the Nobel Prize winner Mario Vargas Llosa has now returned.

In addition to the historic areas, with their particularities in terms of real estate supply, the expansion of the Plaza de España is generating new investment flows for residents. Also the area of Justicia, Noviciado, Conde Duque and the boulevards... are of great interest to Latin American investors.

Highly sought after as a neighborhood to live in for rental by young people with high purchasing power, the neighborhood offers a lot of profitability for those who can bet on it as an investment, and an incomparable place to live.

HousinGo's professional advice

Choosing one area or another to live or to invest depends on many variables: personal circumstances, purchasing power, housing characteristics, family or lifestyle needs... In all cases, it will always be helpful to have the experience and advice of a real estate advisor and specialist in the area.

Buying a home is a long-term investment and, if it is made with the right information, it is very likely to generate a capital gain. Hence the importance of analyzing in detail the different factors that come into play, with the utmost professional rigor. Serenity, information and a good critical eye will help to make the best possible decision.

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