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Large Property Developers Build a New Trendy Neighbourhood in Madrid

The residential boom in the PAU of El Cañaveral means that Vicálvaro is the district with the most homes under construction in Madrid. In 2020 alone, work began on almost one thousand units.

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The district of Vicálvaro, located in the southeast of the Spanish capital, has established itself as the main engine of residential development activity in Madrid. Over the last year, 50 projects have been under construction in the area, making it the leading contributor in terms of new homes to the city’s residential supply, according to the “Madrid from the sky” report prepared by CBRE.

The El Cañaveral neighbourhood is playing a prominent role in this new construction boom, with more and more projects under development and where average house prices, both new and second-hand, have increased notably in recent years.

Read the full article in Spanish.

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