The heart of Madrid, witness to centuries of history, has undergone a spectacular metamorphosis in recent times from the historic centre of the city to the vibrant and sought-after fashionable neighbourhood it is today.

The recent remodelling of the Gran Vía, the Canalejas Centre, the new Plaza de España and the recently opened Four Seasons Hotel, among others, have meant that Madrid's historic centre has regained its former splendour, becoming one of the capital's most fashionable neighbourhoods.

Thanks to its extensive and thorough renovation, the area of Madrid Centro has been enormously 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.‍

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Real estate market: Madrid Centro district regains its former splendour and gains in value

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The property market in Madrid Centro has risen sharply in recent years, and what was once an area mainly for tourists has become the place to live for locals and foreigners alike, as well as attracting national and international investors.

The pedestrianisation of the 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 neighbourhood and on housing prices, and the property market in this area is still very active and currently the price per square metre is over 5,000€, which represents an increase of 6.3% compared to last year.

If we talk about the rental market in Madrid Centro, the rise is much higher, with an increase of 16.9%*

The properties in this area are mostly old buildings with classical architecture that have been refurbished and whose interiors are surprisingly modern and comfortable.

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Madrid Centro used to be the area of choice for tourists who came in search of the vibrant essence of the capital, however, more and more locals are now 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:

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La zona de Madrid Centro solía ser la elegida por los turistas que venían en busca de la vibrante esencia de la capital, sin embargo, son cada vez más los madrileños que eligen este distrito para fijar su residencia.

Si actualmente estás buscando alojamiento en esta zona, te recomendamos que visites nuestra página web y veas nuestra selección de exclusivos apartamentos en Madrid Centro.

Si quieres más información sobre este interesante y vibrante distrito de Madrid no te pierdas los siguientes posts:

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Madrid Centro (II): The 5 must-sees
Madrid Centro (III): Shopping
Madrid Centro (IV): Markets and gastronomy

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_{*Cover photo credit to Jorge Fernández Salas
**Source studio Idealista‍}

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