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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.

madrid centro

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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