Recoletos is currently the most expensive neighborhood in the capital.

PUBLISHED ON

Marzo 28, 2025

CATEGORY

Real Estate



Buying a house in the Recoletos neighborhood of Madrid costs an average of 19,000 euros/m2, while in the El Pilar-La Estación area of Talavera de la Reina (Toledo) the m2 is only 340 euros. The first is the most expensive in the country and the second the most accessible, and between the two there is a price gap of 18,660 euros. This example makes visible what is colloquially called 'the two Spains of housing', and to which the latest report of the Tecnitasa Group has put figures and names, warning of a significant fact: the price of the most affordable houses is rising faster (7.8%) than that of the most exclusive homes (4%).

As for minimum values, the price evolution in Segovia stands out, in the area of El Cerro, with an increase of 60%, going from 800 euros to 1,300 euros/m2 at present; or in Guadalajara, in El Balconcillo, with rises of close to 37%, reaching 1,300 euros compared to 950 euros/m2 just a year ago. Other rises above or close to 30% occurred in Las Palmas de Gran Canaria in La Paterna (33.3%), in Ávila (30.7%) or in Valencia around Avenida Primado Reig (29.6%).

“The most expensive is getting more and more expensive, but due to the shortage of both first and second hand housing, the cheapest is increasing its price very noticeably in many Spanish provinces, both in the Peninsula and in the different Islands of our geography”, explains José María Basañez, president of Grupo Tecnitasa.


The valuation company's analysis reveals that Recoletos has consolidated its position for the second consecutive year as the most exclusive area in the country (a position previously held by Serrano street) and where prices experienced an increase of 18.75% in the last year, rising from 16,000 euros to the current 19,000 euros/m2. Other locations with prohibitive figures are Nou LLevant and Portixol (Palma de Mallorca) where owners pay an average of 16,000 euros per square meter; Puente Romano (Marbella), which reaches 15,000 euros or Paseo de Gracia (Barcelona) with 10,120 euros.

Prices also accelerated strongly in Malaga, with an increase of 28.5% in the Torre del Río - La Térmica area, with a rise of 2,000 euros per meter. For its part, Bilbao recorded a rise of more than 19% in the Abandoibarra and Plaza de Euskadi area, reaching 7,450 euros; while in Almería, by a similar percentage, the square meter reached 2,500 euros in the area between Paseo de Almería and Rambla de Federico García Lorca. Although the general trend is for price increases, there are some exceptions. This is the case in Santander, where the difference between maximums and minimums was reduced by 26%, while in Torrent (Valencia) it reached 13.3%.