If you want to buy a house in Madrid, you will surely be interested in knowing which are the cheapest neighborhoods to do so. According to some indicators, real estate portals forecast moderate falls in home sales in the coming months, due, to a large extent, to the rise in interest rates by the European Central Bank (ECB).
According to him Real Estate Index Fotocasa, in Madrid capital, in December 2022, almost all the districts exceeded the average price of housing at the national level (2,051 euros per square meter). The greatest difference occurred in the Salamanca district, where the average price of housing is 342% higher than the national average (7,016 euros per square meter).
The most significant annual increase in 2022 it occurred in the following districts: Puente de Vallecas (15.8%), Villaverde (11.6%), Chamberí (10.7%), Carabanchel (10.3%), Tetuán (10.2%) , Vicálvaro (7.7%), Barrio de Salamanca (7.6%), Latina (6.5%), Arganzuela (5.6%), Centro (5.5%), Ciudad Lineal (5.2% ), Hortaleza (4.5%), Retiro (4.2%), Usera (4.1%), San Blas (3.6%), Villa de Vallecas (3.1%), Moratalaz (2.3 %), Fuencarral – El Pardo (1.8%), Chamartín (0.9%) and Moncloa – Aravaca (0.7%).
Since the year 2016, the price of housing in Madrid has risen annually in all districts. However, the upward trend changed in 2020, when, as a result of the Covid-19 pandemic, the general falls of 2014 were repeated, and the price of housing did not increase in any district.
what are the five districts of capital Madrid where the average price of housing is higher? They have been the same for eight years: Salamanca (7,016 euros per square meter), Chamberí (6,161), Chamartín (5,595) and Centro (5,536).
¿Y the cheapest ones? They are as follows: Villaverde (1,951 euros per square meter), Usera (2,241), Puente de Vallecas (2,402) and Carabanchel (2,511).
Housing prices by neighborhoods in Madrid
According to the Fotocasa Real Estate Index, of the 76 neighborhoods in the capital, 70 exceed the average price of housing nationwide. LThe cheapest neighborhoods in Madrid to buy a house this year they are:
- San Cristobal – Villaverde: 1,503 euros per square meter).
- Entrevías – Vallecas Bridge: 1,699 euros per square meter.
- San Andrés de Villaverde – Villaverde: 1,826 euros per square meter.
- Los Rosales – Villaverde: 1,902 euros per square meter.
According to data from the National Institute of Statistics (INE), the average interest rate of mortgage loans signed in November 2022 stood at 2.55%, which represents the highest percentage since February 2020. The increase in rates It has caused the Euribor to register a significant rise, now standing above 3%. Based on these data, fixed mortgages are 24% more expensive than variable ones.
