Double opportunity in Recoletos: investment and/or pied-à-terre

It is just steps from El Retiro Park, in the quietest part of Recoletos. The Salamanca district is one of Madrid’s most prominent areas, both for its distinctive layout and for the residents who have traditionally occupied its iconic streets. Its construction dates from the second half of the 19th century and formed part of the urban expansion carried out during the reign of Isabella II. The pioneer after whom it was named was José de Salamanca y Mayol, Marquis of Salamanca, a native of Málaga, who conceived a new development with carefully designed buildings to accommodate Madrid’s aristocratic and bourgeois classes. Dating from the 19th century, the district is distinguished by its regular checkerboard layout, with perpendicular streets. Its buildings are of particular interest for their architectural quality and beautiful façades. Traditionally, Salamanca was a residential area, inhabited especially by the country’s political and economic elites. Over the past fifty years, this residential character has coexisted with other activities, including business, diplomacy and, particularly, commerce, as it is one of the capital’s most important luxury-shopping areas. El Retiro Park is the true centerpiece of this Madrid district, bounded by Alcalá and O’Donnell Streets to the north, Doctor Esquerdo Street to the east, Avenida del Mediterráneo and Paseo de Reina Cristina to the south, and Alfonso XII Street to the west.