Buying · Our pick
Buying in Madrid: the back story
The back story
About Buying in Madrid: the back story
Buyers in Madrid look first at a handful of districts. Salamanca, laid out in the 19th century as a grid of broad streets, has the grand apartment buildings of Serrano, Velázquez and Jorge Juan. Los Jerónimos, between the Prado and the Retiro, is small and much sought after. Chamberí has balconied streets around Almagro and the Plaza de Olavide. And in the north, the Castellana leads to Chamartín, where the Madrid Nuevo Norte project began construction in 2026.
Where people buy
Salamanca and Los Jerónimos for classic apartment buildings; Chamberí for a neighbourhood feel; Centro, Malasaña and Chueca for older buildings and lofts; Chamartín and the Castellana for newer building and offices.
The rules
Foreign buyers need an NIE (foreigner identity number). Purchases are signed before a notary and recorded at the Land Registry. Resale homes pay the property transfer tax (ITP), set by the Comunidad de Madrid; new builds pay VAT instead.
Read our buying-property page, and take independent legal advice before you sign.
The new north
Madrid Nuevo Norte, on the railway lands around Chamartín station, began construction in 2026; it is a long-term programme of homes, offices and parks.
Our advice: choose an agent with a Madrid office, and a lawyer who works for you, not the seller.
Why it's on our list
- Where people buy
- The rules
- The new north
Opening hours, prices and seasonal openings change, so please check with Buying in Madrid: the back story before you go.