Rents in the biggest provincial capitals are high, and Madrid is a clear example of this upward trend in rental prices. But do not despair yet, because some areas of the capital are more expensive than others, and if you know which ones it concerns, you will not waste any of your precious time searching there, when you dispose of a limited budget. If you are ready to invest or rent in booming areas in the city of Madrid on the other hand, this article may be of interest to you too. Today, in this article by ShMadrid, we will share some basic knowledge about the areas with the most expensive rent in the capital.
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Areas with higher rental prices in Madrid
Rent is generally high, but sometimes it feels like each of the provincial capitals are competing, as if there could ever be a winner. Madrid and Barcelona are the cities with the highest real estate prices in Spain, and it can be felt in almost all areas of the city. But luckily it is still possible to find cheaper accommodation, as long as you know where to look. You should also be prepared to act quickly, as your housing objective is what most others are aiming at as well. When demand is higher than supply, it raises prices of properties. On the other hand, if you would like to invest in a house to rent out, or if you do not have a restricted housing budget, you can always rent in trendy neighbourhoods, that are usually in the more central areas. These are most in demand, and therefore more expensive. In addition, areas with a high quality commercial zone also lead to higher prices, not only due to the services that are available in the apartment and in the apartment building in general, but also because most of them have undergone renovations and enjoy excellent facilities.
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Another determining factor for an area being more in demand and thus more expensive, is good connections by a varied public transport network. Although these areas are not close to the centre, they are also very popular thanks to the accessibility of the centre, which is generally the nerve centre of the financial and business district in a city. The most expensive areas in Madrid are the district of Salamanca, which is one of the most elegant neighbourhoods in the capital, the district of Chamberí, which is close to the centre and very authentic, the district of Tetuán, which is one of the areas where rental price have increased most, and the beautiful district of Retiro, where you can visit one of the largest urban parks in Europe. Prices have also increased hugely in districts such as Ciudad Lineal, Fuencarral, Moncloa and Puente Vallecas. Now that you know which areas are the most expensive ones in the capital of Spain, you can refocus on your search area. And if you have any questions or need some real estate advice, you can always contact the long-term rental department at ShMadrid.
Do you live in cheaper or more expensive district? Any advice?