In recent years, the district of Tetuán has emerged as one of the most sought-after in the Spanish capital as the area with the most affordable price inside the M-30, ahead of other dynamic areas of the capital such as Arganzuela, according to a study published recently by CBRE. This growing interest has been reflected in the increase in its residential prices, especially for rental properties, and a profusion of new projects, although that upward trend has been slowed by the Covid-19 crisis.
According to data collected by the real estate big data platform Brainsre, the average price of rental homes has gone from 1,225 euros before the pandemic (first quarter of 2020), to the current price of 1,062 euros. “The district of Tetuán saw significant increases in rental asking prices until the end of 2019, but has suffered a 13% drop since the beginning of the pandemic. That decrease is high, but it is in line with what is happening in many other areas of Madrid”, explains Antonio Ramudo, Data Scientist at Brainsre.
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