1. The Madrid Metro is One of the Largest in the World: The Madrid Metro system is not only extensive but also one of the largest in the world, covering over 300 kilometers of track. It is also known for its cleanliness and efficiency, making it a convenient way for both locals and visitors to navigate the city. 2. A Literary Capital: Madrid has a rich literary heritage and is home to the famous "Literary Quarter" (Barrio de las Letras), where notable writers such as Miguel de Cervantes and Lope de Vega once lived and worked. The area is filled with bookshops, literary-themed bars, and cafes, making it a hub for literature enthusiasts. 3. The City of Parks: While many know about Retiro Park, Madrid boasts numerous green spaces, including the Casa de Campo, which is larger than Central Park in New York City. This park offers a variety of recreational activities, including hiking, biking, and even a lake for rowing, providing locals and visitors a natural escape from the urban environment.
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.