Madrid's Chamberí district is establishing itself alongside other areas in the capital, such as Salamanca, Centro and Chamartín, as one of the preferred destinations for new luxury developments, with homes costing more than €1 million, according to the real estate consultancy Activum Real Estate. Up to eight developments have high-end units, with the largest reaching offers of €1.7 million.
The complete renovation of buildings into luxury homes in the central areas of Madrid is increasing the capital's prime offer and the Chamberí district is one of the epicentres of this exclusive new development.
According to a study carried out by Activum Real Estate, as many as eight new property developments have average prices over €10,870 per square metre. This reflects the area's high demand and exclusivity, according to the real estate consultancy firm.
The report highlights that Chamberí has approximately 100 new-build properties available, with an average price of €1.78 million for three-bedroom homes.
"This new reality confirms how Chamberí has become a destination for both investors and those looking for a home that reflects their lifestyle. Demand for property in this area is steadily growing, driven by its strategic location, cultural offerings and first-class services," says the study.
Here are some of the most exclusive real estate developments currently available on the market:
Spain's luxury housing market will grow during the second quarter of 2024
One segment that knows very little about recession is the luxury housing market. As it continues at a good pace, experts predict it will grow during the second quarter of 2024. It should be noted that, while the rest of the residential segments have been slowing down during 2023, it has remained resilient and Spain is ranked as the fourth destination luxury worldwide. Madrid, Murcia and the Canary Islands will be the most appealing areas for non-residents.