District 28001: the most expensive zip code in Spain to buy a home

PUBLISHED ON

Enero 22, 2026

CATEGORY

Real Estate

Write down this number: 28001. It is the most expensive postal code in Spain and corresponds to the Recoletos neighborhood in the Salamanca district of Madrid. In 2025, the average price per square meter stood at €11,702, even exceeding €13,300 in September and October, according to data from the new Notarial Statistics Portal. This is the most sought-after area among those looking to buy luxury homes in Madrid, especially among wealthy Latin Americans: the capital's so-called Golden Mile.

The most sought-after part of the Salamanca district, it is the favorite of millionaires who are new to Madrid and want to buy or invest in the best of the best. The neighborhood revolves around the famous Calle Serrano, home to the most exclusive luxury stores such as Versace, Casa Loewe, Prada, Carolina Herrera, Gucci, Cartier, and Louis Vuitton, among others.

But let's take it one step at a time. 28001 is one of six postal codes that cover all or part of the Salamanca district. 28001 corresponds to the Recoletos neighborhood and some areas of Goya, a neighborhood that is also part of postal code 28006, along with Lista. 28009, meanwhile, covers the area between Calle de O'Donnell and Fuente del Berro, which, together with Guindalera, are part of postal code 28028. The last of the postal codes that slightly touches the Salamanca district is 28046, which covers part of Paseo de la Castellana, the section between Calle de Ortega y Gasset and Plaza de Colón.

Of all of them, 28001 is not only the most expensive postal code in the city, but also in Spain. At €11,702 (average price per square meter in 2025), it exceeds the €10,018 of postal code 07157, which corresponds to Puerto de Andratx in the Balearic Islands, as well as the €9,613 of its neighbor, 28006. Buying on one side or the other of José Ortega y Gasset Street, the physical border between the two postal codes, means an average difference of €2,000 per square meter.

Even within the same zip code, there are significant differences depending on the street or area. "Within the Recoletos neighborhood, there is an area that is highly prized by Latin American buyers, comprising the square formed by the intersection of Castellana, Príncipe de Vergara, Columela, and Ortega y Gasset. And within this square, Columela, Villanueva, Conde de Aranda, Gurtubay, Villalar, and Salustiano Olózaga are highly sought-after streets," Elena Jori, director of Real Estate at Home Select, explains to El Confidencial.

As Paloma Pérez Bravo, CEO Residential at Lucas Fox, points out, when searching for luxury homes, “location is not understood as a macro concept, but rather a micro one. We are not talking about the Salamanca district, but rather streets and even sections depending on orientation, noise, views, or proximity, in this case, to the Retiro Park or prime areas.”

And within this small box that Jori marks within Recoletos and on each of these streets, demand is also very selective, seeking historic buildings with many balconies and very high ceilings, which makes the search for a product no easy task.

Latin American buyers are primarily interested in classic buildings from the early 20th century, with representative doorways, south-facing, cage elevators, and as many balconies facing the street as possible. They also pay close attention to ceiling heights, which should be at least 4 meters, moldings, whether or not there are French fireplaces, as well as open kitchens integrated into the social area of the home, walk-in closets or dressing rooms, family rooms or TV rooms, and garages on the property itself. The list is endless," says Jori.

Of course, no ground floors, no first floors, and no interiors. "They want the property to be located on the upper floors, preferably penthouses or properties with terraces or corner units. They also take the orientation of the houses into account. In some streets, they prefer even numbers, such as Lagasca or Claudio Coello, to get afternoon sun, and in others, odd numbers, such as Villanueva, Conde de Aranda, or Columela, to get a south-facing orientation," notes the director of Home Select.