Tetuán

Tetuán is a large district in the north of Madrid. Technically it spans from Paseo de la Castellana to the east to Moncloa to the west. However, the most typical part of the neighborhood is the area to the east and west of the street Bravo Murillo. Tetuán lies directly above Chamberí, beginning at the glorieta Cuatro Caminos. The neighborhood is characterized by charming narrow streets lined with old apartment buildings.

Traditionally, Tetuán was a working class neighborhood. Like many neighborhoods it has experienced a great deal of change through the years. Initially working class, its cheap rents attracted immigrants from a collection of countries. This gives the neighborhood a diverse feeling that is lacking in many other places in Madrid. As real estate prices/rents have continued to rise in Madrid, it now attracts a number of students and academics. It is close to the universities in Ciudad Universitaria and the neighborhood of Moncloa, where traditionally many students live. The Metro Line 1 makes it very quick and easy for students to travel from Tetuán to the trendy areas of Malasaña, Chueca and the Center. This is ideal for students that which to experience Madrid’s legendary nightlife, or frequent its lively bars and restaurants. Tetuán is also attractive to people that want to live in Chamberí but can’t afford the steep prices.

This once working class, immigrant neighborhood is now one of the trendiest neighborhoods in Madrid. What used to be considered the end of the city center is now the epicenter of art studios, photography, event spaces and artisanal products. The artisanal bakery Pan.deliro is located two blocks from the Tetuán Metro station. They have won awards for best gourmet shop, best torrija, best roscón and every year are included in the list of the best bakeries in Spain. The site also houses the pastry school Materia. Another interesting place is the creative space Espacio Garaje Lola, a place for writers that combines contemporary art, gastronomy and excellent music. Tetuán is also home to many home decor artists such as rug and furniture makers and even an atelier that specializes in pressed flowers.

If you like ethnic food, Tetuán has an excellent selection of Asian markets and restaurants; you can find food from China, India, the Philippines, Southeast Asia and Latin America. In the famous Mercado de Maravillas, which lies just to the north of Cuatro Caminos, you can find a large selection of products from around the world. If you prefer a more traditional Spanish market, you can visit the Mercado de Tetuán; it lies further to the north, close to the Tetuán Metro stop.

Real estate prices in Tetuán are significantly lower than those in neighboring Chamberí, and cheaper than those in Moncloa. However, rents are relatively high. Rents in Tetuán are even higher than in the premium neighborhood of Chamartín. This translates to high rental yields; the average rental yield in Tetuán is 6.3%. This is higher than any premium neighborhood in Madrid and excellent news for investors. Madrid Estate has clients that are receiving net rental yields of 5% in Tetuán.