Montecarmelo - highly demanded neighbourhood in Madrid
Montecarmelo, located near Monte del Pardo, the Colmenar highway, and the M-40, emerged as a residential area in the early 1990s. Spanning more than half a million square metres for residential use and boasting 8,500 homes (both free-market and subsidised), it quickly became a popular choice for young couples looking for a place to settle, while commuting to the city centre for work each day. Like Sanchinarro and Las Tablas, Montecarmelo was initially conceived as a "bedroom community." However, in recent years, it has become a direct witness to the rising property prices in the area.
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