Madrid

1. Cultural Festivals: Madrid hosts a multitude of lesser-known cultural festivals throughout the year, such as the San Isidro Festival, which celebrates the city's patron saint with traditional music, dance, and food, showcasing local customs that may be overlooked by tourists. 2. Green Spaces: Beyond the well-known Retiro Park, Madrid has a network of hidden green spaces, such as the Jardín Secreto de Salvador Bachiller, a secret garden tucked away in the city center, offering a peaceful retreat from the urban hustle and bustle. 3. Literary Heritage: The city has a rich literary history, often referred to as the "city of writers." In addition to famous authors like Miguel de Cervantes, Madrid is home to the "Literary Quarter" (Barrio de las Letras), where many writers lived and worked, and hosts numerous literary events and book fairs that are not widely recognized.

Madrid's housing market is experiencing significant growth and pressure. As of 2025, housing prices in the city have been climbing, with a 17.5% increase in 2024 and an expected rise of 4% to 5% in 2025. Properties in the city center are priced at least 20% higher than those in the suburbs. The total number of housing units in Madrid is approximately 1.53 million, with about 153,000 empty units representing 10% of the stock. Regarding ownership, around 60% of Madrid's homes are owned, while 40% are rented. Recent data on median prices per square meter is not available, but in 2024, city center prices averaged around 3,771 euros per square meter, while suburban areas like Villaverde were more affordable at 2,252 euros per square meter. Public and social housing play a role in Madrid's market, with plans for 11,000 publicly funded rental units in the Campamento area. Cooperative housing initiatives, like Entrepatios, are also emerging as alternatives to traditional housing models. The rental market is under pressure, with an average of 40 families looking for each available rental property in Madrid. This scarcity has led to rising rental prices, which increased by 12.6% in the past year across Spain.

The current Madrid City Council is taking significant steps to address housing challenges, particularly in the historic center. The administration has unveiled the Plan Reside, which aims to restrict short-term holiday rentals in residential buildings to preserve housing for residents. This plan replaces a previous 2019 initiative and seeks to address depopulation in the city center, expand residential availability, and regulate tourist accommodations. Additionally, the Community of Madrid is implementing Plan Vive II, an ambitious project to build 1,137 affordable rental homes in three municipalities: Boadilla del Monte, Pinto, and Colmenar Viejo. These homes will feature energy-efficient designs and spacious layouts to cater to various family needs. The city is also collaborating with private developers through public-private partnerships. One such initiative involves the transfer of city-owned land to develop approximately 2,200 affordable rental housing units across 25 plots in 11 districts. This project aims to alleviate the economic burden of renting for a wide range of social groups. Madrid's approach to affordable housing is becoming a model for other European cities. The city is focusing on transforming underutilized public land, using industrial construction methods for efficiency, and offering rentals at below-market rates. These efforts demonstrate Madrid's commitment to creating more affordable and sustainable housing options for its residents.

Housing cooperatives are gaining prominence in Madrid as an alternative housing model. The city has seen a growing interest in cooperative housing projects, driven by the need for affordable and sustainable living options. Madrid's government has taken steps to promote cooperative housing. In 2024, the Law for the Promotion of Social Housing in the Community of Madrid was enacted, which includes provisions for changing land use to implement social housing for rent. This law aims to increase affordable housing options and allows for the development of cooperative housing projects. The city also supports cooperative housing through the Municipal Housing and Land Company (EMVS), which manages subsidized housing and has regulations to allocate housing to eligible applicants. Several notable cooperative housing projects have emerged in Madrid. Entrepatios Las Carolinas is a pioneering eco-friendly cooperative housing project completed in 2020, housing 17 families in a zero-carbon footprint building. It combines sustainable design with community-oriented living. Another example is the Villa Rosita project in Torrelodones, consisting of 29 residential units for seniors. This cooperative took 10 years to develop and emphasizes community building through shared spaces. These projects demonstrate Madrid's growing embrace of cooperative housing as a solution to housing affordability and sustainability challenges, with support from evolving policies and regulations.