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Madrid Nuevo Norte Powers Transformation of Chamartín

The district has one of the highest average house prices in the municipality of Madrid, above €4,700/m2 by the end of 2020, according to CBRE.

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The Chamartín district is undergoing a profound transformation driven by major projects such as Madrid Nuevo Norte, the main urban development in the city of Madrid. The project will become home to more than 2,300,000 m2 of buildable area in the coming years. 73% of the space will be set aside for public use, along with 400,000 m2 of green areas.

According to the consultancy CBRE, the developments in the Estación de Chamartín and Centro de Negocios Chamartín areas, which concentrate more than one million square metres of office space, will extend the economic axis formed by the Paseo de la Castellana. In addition, 2,600 new homes and more than 50,000 m2 of retail space are planned.

Chamartín stands out as one of the districts with the highest socio-economic level in the municipality. The area has the highest average income, exceeding €26,267, compared to less than €16,000 in the municipality, and is home to some of the most exclusive enclaves in Madrid, such as the El Viso development.

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