The centre of Madrid is the most sought-after and coveted residential area and therefore, if you have a property there you can regard it as being very valuable. Madrid is a hectic and bustling city which offers a wide range of cultural and social activities. Hence, living in the centre allows you to enjoy them within easy reach. This fact has led many people to invest in housing in this area. Due to this, the price of housing in the centre has increased considerably. We must also add that Madrid lacks plots of land for building. We can deduce from this that a house there can fetch a very high price.
THE CENTRE OF MADRID NEVER GOES OUT OF FASHION
In this blog we have already written about the great real estate demand in Madrid. This circumstance makes investors consider buying in the very centre of Madrid. We must always bear in mind that the centre of large cities never lose their interest nor their appeal. Madrid is an example of this fact. Year after year, real estate demand rises in this part of the city. At present, it is estimated that there are around 2.500 houses to sell or to rent in the centre of Madrid. The average price per square metre is more or less 4.000 euros and it increases annually. This situation where the demand is higher than the offer has repercussions on the inevitable increase in prices.
LA CREMÈ DE LA CREMÈ: BARRIO DE SALAMANCA
In the centre of Madrid we must highlight Barrio de Salamanca and its adjacent areas as being regarded as the most exclusive neighbourhood. The houses there are large and spacious and so are the streets and the layout of the buildings. Barrio de Salamanca is very different from other areas in the centre such as La Latina, Lavapiés or Sol.
Obviously, the product offered is completely different. In Barrio de Salamanca the price per square metre can be well above 6.000 euros. We can state that it is one of the most exclusive areas in Madrid.