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13% of Housing Vacant in Central Madrid

Tourist rentals in the capital are still in the doldrums, with a 10% reduction in prices compared to January 2019, according to the consultancy firm CBRE.

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Residential rentals in the centre of Madrid are in high demand, as the area has the most expensive rents, 17.50 €/m2 per month, in the municipality. According to the consultancy firm CBRE, 13% of the total stock is vacant. Tourist rentals continue to suffer, and prices have fallen by 10%.

At the end of 2020, transaction prices stood at €4,800/m2, an annual increase of 9.7%. The most expensive streets are Carranza, General Castaños and Almirante, where prices exceeded €9,500/m2.

The office market in this district also has a high occupancy rate, exceeding 95%. Only in Sol is it below, at 92%. The office stock totals 810,402 m2, with 159 assets.

The main tenants in the area are: the government, Banco Popular, La Caixa, BMN, BBVA, Fundación Mapfre, Círculo de Bellas Artes, Ateneo de Madrid, Apple, GTS, Ashurst and Solaria.

Read the full article in Spanish

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