Chamberí

The Chamberí neighborhood is Madrid’s equivalent of the Upper West Side-with Salamanca analagous to the Upper East Side. Primarily residential, it is similar to Salamanca in terms of real estate prices and proximity to the Center. However, it is definitely more laid back. You don’t see obvious displays of wealth in this neighborhood, nor big international fashion stores. What you do find is a wide range of micro-neighborhoods. To the south lies Almagro, arguably the best place to live in Madrid if you like small fashion boutiques, discreet destination restaurants and high end street fashion like you find in the Marais (Paris) or NoLIta (NYC). The architecture in Almagro is the most beautiful in the city, with numerous old palaces. A lovely example is the former residence of the Duke of Santo Mauro, which is now a hotel, on elegant Calle Zurbano. The Duke of Santo Mauro was an influential member of 19th century Madrid society, which is reflected in the architecture. The opulent ball rooms have been converted into the hotel’s common areas, so you can have a drink in gilded surroundings, enjoy a salad in the gem-like garden or have a cocktail in the Art Deco gin bar.

Further to the north, in upmarket Trafalgar, you find older, historic buildings rubbing shoulders with more modern apartment blocks. One of the loveliest buildings in Trafalgar is the former atelier of the Valencian artist, Sorollo. There is now a museum in his former home, which is filled with his paintings and sculptures. The residence is intact so you can see where he lived and created his masterpieces. Especially atmospheric is its traditional patio filled with orange trees and fountains, like one finds in the south of Spain.

Although the Chamberí neighborhood has an older, often more traditional demographic than a neighborhood such as Malasaña, it still has some of the most dynamic “evening life” in the city. This is centered around the famous Calle Ponzano, which starts in Trafalgar and runs up through the Ríos Rosas neighborhood. This is the most fashionable place in Madrid for a tapa, glass of wine or even dinner. It attracts a broad crowd: trendy middle age people professionals, millennials and even younger adults. If you want to dress up, have a drink, see and be seen, this is the place to be. The real estate prices in Ríos Rosas now reflects how desirable this neighborhood has become.

The Chamberí neighborhood has a broad demographic, so most people would feel comfortable living here. Although micro-neighborhoods such as Vallehermoso still have an older, conservative demographic, they still have many swimming pools and large parks with a plethora of kid’s activities that attract families; probably stemming from the fact that in Spain, grandparents still burden a large bulk of child rearing tasks. Rios Rosas has a strong contingent of young professionals, whilst Almagro attracts a middle aged (young people can’t afford it) fashionable set. Arguelles is an interesting mix of a very conservative, old guard set and exuberant students.

Chamberi neighborhood

Pricing Overview

Real estate in the Chamberí neighborhood isn’t cheap: it’s the most expensive real estate in Madrid after Salamanca. Elegant Almagro is the priciest, where the median price of a home is 9,565€ per square meter. Conservative, old money Vallehermoso is more attainable pricing; the median home price here is 6,379€. Prices in the neighborhood adjacent to Vallehermoso, Nuevos Ministerios/Ríos Rosas, prices were very similar; the median price of a home here is 6,907€ per square meter. The median price of a home in chic Trafalgar is 7,844€ per square meter. The median price of a home in Gaztambide is 5,870€ per square meter. In the old school neighborhood of Arapiles, the median price of a home is 6,084€ per square meter

Current Market Prices

Restaurants

Izariya Madrid

Calle Zurbano, 63, 28010, Madrid

913 08 38 12

perretxiCo

Calle de Rafael Calvo, 29, 28010, Madrid

945 13 72 21

Pricing Overview

PER SQUARE METER

€ 6,161€ per square meter

YEAR ON YEAR

4.8%

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