September is coming and Madrid returns to its usual hustle and bustle. The capital has moved from the quiet rhythm of August to the bustle of the ninth month of the year. It is at this time, as autumn approaches, that workers return from vacation and students return to class.
This month marked by beginnings is also that of looking for an apartment in the city, an almost impossible task in recent years. This is when several factors come into play: the neighborhood, the budget and the price of the apartments.
These are the prices in the capital
According to data collected on the real estate portal “Idealista”, the average price per square meter of a house in the capital is 19.9 euros in August 2024. The portal says this is an increase of 0.5% compared to July and 14.3% compared to August 2023.
In such a way, the most expensive neighborhood renting a house in Madrid is Salamancawhere the price per square meter exceeds the city average and amounts to 24.4 euros. Likewise, one of its neighborhoods, that of Recoletosis the most expensive in the city: the price per square meter is 27.5 euros.
This is the cheapest area to rent an apartment in Madrid
In this way, those looking for lower prices should explore the rest of the city. As shown by the data collected on the same real estate portal, the neighborhood cheaper is Vicalvaro where the price per square meter in August was 13.8 euros. A little more than 10 points difference compared to the most expensive. That is, a house of 100 square meters would cost on average 1,380 euros, although in other areas you can find cheaper apartments due to their characteristics.
As in the opposite case, the cheapest neighborhood to rent in Madrid according to this data is in the same neighborhood, thus becoming the most economical neighborhood to rent in the capital.
This is the Valdebernardo – Valderribas districtwhose price per square meter is 12.5 eurosThis neighborhood, as is almost always the case, has also experienced an increase in prices: they have increased by 2% in their monthly variation and by 11.9% in their annual variation.
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Ambroz: 14.2 €/m2
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El Cañaveral – Los Berrocales: €13.7/m2
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Valdebernardo – Valderribas: €12.5/m2
This is an average obtained between the ratio between the meters that a house has and the price at which it is offered. However, this must not always meet the needs of potential tenants.
Perform a search at the beginning of the first week of September 2024, There are only nine rental units. None of them are studios but rather apartments with two to four bedrooms, most of them located in the urbanizations of the area. Likewise, they are houses that exceed 70 square meters.
There is everything: a three-bedroom, 120-metre house is offered at 1,350 euros per month (10.32 euros per square metre) compared to another at 2,500 euros per month for three bedrooms and 145 metres (here the price rises to 17.2 euros per square metre).
Vicálvaro is the cheapest neighborhood on average, according to Idealista data. Villa de Vallecas, Moratalaz, Barajas, San Blas and Villaverde. Regarding the neighborhoods, they are Palomeras southeast, Rejas, Los Ángeles and El Cañaveral-Los Berrocales.
When it comes to renting a home, it is no longer just the price per square meter in the area that influences, but other aspects such as budget, personal situation, salaries or how the home fits into all of this.
