The National Statistics Institute (INE) registered in the third quarter of 2015 a rise of 6.9% in the Spanish capital. A trend confirmed by the reports of the main real estate portals and consultancy firms, which disclose a market segmented into two parts: the rise in prices was concentrated in the most exclusive and affluent areas, while prices in the most disadvantaged neighborhoods remain stable. The report that the real estate portal “El Idealista” published this week suggests that 2015 ended with a rise in the price of used housing in Madrid of 4.4% compared with 2014.
These price increases concentrates in certain areas of the city, while others still recorded falls. Between the average price of the most expensive neighborhood in the city, Recoletos, in the district of Salamanca (5,843 Euros per square meter) and San Cristobal, in Villaverde, the cheapest neighborhood, where an apartment is worth 925 Euros on average per square meter. The increase of the average price of properties was recorded throughout 2015 in 12 of the 21 districts of Madrid. The Center district is the area where prices have risen more (8.9%), followed by Salamanca, which registered an increase of 5.7%, followed by Retiro with 4.3% and Arganzuela with 4.1%
Courtesy: El Pais