Madrid is currently a true paradise for those who have a house to rent out or for those who have enough money to buy a flat and rent it out. This is simply due to the fact that prices do not stop increasing, as was the case in 2017. In fact, last year there was an increase of 6.3 square metres, which places the price of the monthly rent only 3 per cent at the historical high recorded in 2007.
In this article, Engel & Völkers wants to proceed to make an analysis of the Madrid flat price by areas so that you can get a better idea of which areas are seeing higher growth and which areas offer more profitable investment options at this moment in time.
The price of flats in Madrid: upward trends
When we take a look at these data, we can see that location greatly influences the price of property in the city of Madrid. The first thing we want to say is that currently the average price is 2601 euros / square metre, which means a year-on-year variation of 17.1 per cent with respect to 2016. In fact, only during the last quarter of 2017 was there a price increase of 4.5 per cent.
On the other hand, the price per square metre of a flat for rent differs from the price of a flat for sale. In fact, while in the first case the Chamberí district is in the lead, with respect to the second, Salamanca continues to be on the top, which means maintaining a trend that has lasted several decades. In fact, in this neighbourhood the price per square metre for a flat is 4466 euros / square metre, which represents a growth of 17.6 per cent year-on-year.
Secondly, this time we can find the Chamberí district, which offers homes at a price of 4049 euros / square metre, at 11.7 per cent higher than the previous year. Of course, if we are purely talking about growth, the winning cards are in the hands of Centro district, which has raised its prices by 21.1 per cent in 2017. This has today resulted in its flats costing 4027 euros per square metre. This figure contrasts with the fact that the increase in rental prices has been very low indeed.