Castellana establishes as one of Madrid’s most exclusive neighborhoods

This neighborhood, historically one of the most important financial and commercial hubs in the city, has undergone a renovation and a real estate boom that have positioned it as one of the most exclusive destinations. Castellana, known for its impressive avenue – Paseo de la Castellana – which runs through the heart of the capital, is home to iconic skyscrapers, the headquarters of major companies, and high-end commercial offerings. In addition to its business profile, the area has been enriched with a vibrant cultural and gastronomic scene, making it a gathering place for lovers of luxury, art, and fine dining. With an environment that blends the classic and the modern, Castellana stands as the epicenter of sophistication and avant-garde in Madrid.

The presence of institutions such as the IE Business School and the National Library adds an intellectual and cosmopolitan character to the neighborhood. With its tree-lined streets, exclusive private clubs, and historic buildings, Castellana offers a tranquil and distinguished environment, ideal for those looking to live in style in one of the most established areas of the city.

As evidence of this, it has been observed that homes in this neighborhood have an average price that can reach €12,000/m², with a 17% growth in the last twelve months and a 4% increase in the last quarter, according to Brains Real Estate’s analysis. The Castellana neighborhood, with its balance between modern urbanism and natural spaces, has become one of the most sought-after and dynamic areas of the capital. This phenomenon has led to a significant rise in prices, making Castellana one of the most expensive neighborhoods in the capital, alongside Recoletos and Jerónimos.

Most of the homes in the neighborhood are three-bedroom apartments, reflecting a residential structure suited for couples and families. In fact, there is an annual increase in the population aged 16 to 64, indicating a rise in the number of working-age people settling in the neighborhood. Additionally, the ample green spaces in the area make the neighborhood an ideal place for those seeking a peaceful and healthy environment.

The neighborhood is becoming increasingly international, with an annual growth of 15%, bringing the total foreign population to nearly 25%. This could be related to the presence of international universities and companies in the area, attracting professionals and students looking for opportunities in a cosmopolitan environment.

For this reason, we would like to highlight the most recent transaction carried out by the BARNES Madrid team, a property located on one of the best streets and at the epicenter of the Castellana neighborhood, representing the premium side of the Spanish capital. It is situated on one of the busiest streets, due to its wide range of leisure, shopping, and dining options.

This is a magnificent 192 m² apartment, fully renovated, furnished, and decorated to a high standard. This exclusive property, located on the first floor, boasts high ceilings and street-facing windows with excellent views. The apartment also enjoys incredible natural light.

It has a perfect layout, with 3 bedrooms, each with spacious fully fitted wardrobes, and 3 bathrooms (one being en-suite to the master bedroom). The kitchen is fully equipped with all appliances and features a glass partition to individualize the space, as well as a large, naturally lit living-dining room – making it the perfect place to enjoy private moments with friends and family.

This fabulous property was sold by our experts for €2,300,000.

If you are interested in selling your property or in search of a new home, we encourage you to contact our team of advisors at BARNES Madrid.