The Chamartín district, with the Bernabéu area as its epicenter, has experienced an increase of up to 30% in the cost of acquiring and renting properties. Pinnacle Spain, your luxury property finder spain, offers you a detailed analysis and the best opportunities in this dynamic market.
Over the past few years, there has been a significant price 'boom' in both sales and rentals, largely driven by the renovation of the Santiago Bernabéu stadium, and the urban development project in the surrounding area.
Recent data clearly shows that house prices have increased considerably since the renovation works on the Santiago Bernabéu began in 2019. However, the proximity to the stadium plays a role in the price differences.
Specifically, within 300 meters of the stadium, prices have increased by 20%, rising from 5,463 euros/m2 in 2019 to 6,582 euros/m2 currently. Between 300 and 600 meters from the Bernabéu, the increase is also 20%, going from 5,924 euros/m2 to 7,122 euros/m2.
For properties located between 600 and 900 meters from the stadium, the increase is even more significant: the price to purchase a home has risen from 4,991 euros/m2 in 2019 to 6,650 euros/m2 in 2024, representing a 33% increase. Factors such as the area's activity, along with improved infrastructure and services, attract buyers and tenants, in addition to the privileged location of the stadium on Paseo de la Castellana.
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