The heart of Madrid, witness to centuries of history, has undergone a spectacular metamorphosis in recent times, going from being the historic center of the city to become the vibrant and coveted trendy neighborhood it is today.

The recent remodeling of the Gran Vía, the Canalejas Center, the new Plaza de España and the recently opened Four Seasons Hotel, among others, have made the historic center of Madrid has regained its former splendor, becoming one of the most fashionable neighborhoods of the capital.

Thanks to its extensive and thorough renovation, the Madrid Centro area has been greatly revalued, becoming one of the most sought-after and sought-after areas to live in Madrid, as well as one of the most visited, attracting both local residents and visitors from all over the world.

Real estate market: Madrid Centro district recovers its former splendor and gains in value

The real estate market in Madrid Centro has appreciated significantly in recent years, and what used to be an area mainly for tourists has become the place of choice for both locals and foreigners to live, while attracting national and international investors.

The pedestrianization of Gran Vía, the drastic reduction of traffic in Madrid Central and the reinforcement of its commercial area have had a great impact on the life of the neighborhood and on housing prices.

The real estate market in this area is still very active and currently the price per square meter exceeds 5,000€, which represents an increase of 6.3% over last year. If we talk about the rental market in Madrid Center the rise is much higher, with an increase of 16.9%*.

The homes in this area are mostly old buildings of classical architecture that have been renovated and whose interiors are surprisingly modern and comfortable.

The area of Madrid Centro used to be chosen by tourists who came in search of the vibrant essence of the capital, however, more and more Madrileños are choosing this district to take up residence.

If you are currently looking for accommodation in this area, we recommend you to visit our website and see our selection of exclusive apartments in Madrid Centro.

If you want more information about this interesting and vibrant district of Madrid do not miss the following posts:

Madrid Centro (II): The 5 must-sees

Madrid Centro (III): Shopping

Madrid Centro (IV): Markets and gastronomy

_{*Cover photo credit to Jorge Fernández Salas}

_{**Source studio Idealista}