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Madrid’s Salamanca Neighbourhood Resists Covid With No Price Decreases

The prices of commercial premises and homes for sale in the prestigious Madrid neighbourhood have remained stable; whilst the price of residential rental properties fell by 5% in the third quarter.

The 19th-century streets of the glamorous Salamanca neighbourhood are home to some exclusive luxury homes and shops which have hardly suffered from the impact of Covid-19. The district stands out as the most expensive area in Madrid both for renting a commercial space as well as for acquiring or leasing a residential asset.

Specifically, during the first quarter of this year, the average price of a second-hand home was €6,562/m2; whilst during the third quarter, that price fell slightly to €6,553/m2. That difference represents a slight fall of less than 1%, according to data collected by the real estate big data platform Brains RE.

Read the full article in Spanish.

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