TOP-8 New Luxury Real Estate Projects in Madrid in 2022
TOP-8 New Luxury Real Estate Projects in Madrid in 2022
The luxury and ultra-luxury real estate market in Spain’s capital is experiencing a period of prosperity. Demand is high, while supply is limited. Currently, the market features approximately eight projects with premium housing.
In the second half of the 19th century, the Marquis of Salamanca led the construction of a prestigious Madrid district that today bears his name. The aristocratic buildings on Serrano Street and its surroundings significantly changed the city’s appearance, making it resemble major European capitals, and in 1871 gave impetus to the creation of Madrid’s first tram line (connecting this district to the central Puerta del Sol). Today, 150 years later, the Salamanca district once again leads the luxury revival in the capital thanks to large-scale reconstruction projects that are restoring the splendor to its most magnificent buildings.
According to Álvaro Martínez, director of Barnes Madrid, “the Salamanca district is one of the most exclusive neighborhoods in Spain and Europe.” This district stands out for its 19th-20th century buildings, the possibility of finding spacious family apartments over 150 m², as well as exclusive shopping and gastronomic infrastructure. These factors attract both Spanish and foreign buyers — especially from Latin America, for whom Salamanca is an ideal place for investment. The average price in the district is 6,077 euros/m², which is 4.3% higher than the same period last year, according to Barnes data.
New luxury complexes in Madrid are not only located in the Salamanca district. The El Viso and Los Jerónimos neighborhoods, as well as the central part of the city, also offer new housing in this segment.
Premium housing sales have grown by more than 100% in the period up to September compared to the same period in 2020. These figures made Madrid the city with the highest growth in luxury real estate sales, according to a Knight Frank study. Prices in this segment increased by 2% year-on-year in the third quarter.
As interest in luxury housing in the capital has grown, sales secrecy has also intensified. Many agencies refuse to advertise their offerings, and a law of silence and confidentiality reigns in the market. Nevertheless, EXPANSIÓN publication has gained access to the most exclusive projects presented on the Madrid market.
1. 11 Marqués de Salamanca (from 5 million euros)
At 11 Marqués de Salamanca Square — in the heart of the prestigious district that gave the square its name — is located the most luxurious complex currently presented on the Madrid market. The building, constructed in 1932, is undergoing complete reconstruction by Terralpa Investments, preserving the magnificent spirit characteristic of this district.
The project includes two-level apartments and penthouses with 3 and 4 bedrooms. Prices start from 5 million euros for apartments and reach 13.1 million euros for the most expensive penthouse. The latter is equipped with a 340 m² terrace and its own pool. All apartments have very high ceilings — almost three meters — and are “designed with an emphasis on refinement and comfort,” according to the developer.
Future owners will have access to premium services: a wellness and spa area, independent entrance and security, as well as concierge service inspired by luxury hotel standards.
These properties, sold by Colliers, are in the final stage of construction, with key handover scheduled for early 2022.
2. Pablo Aranda, 3 (from 5 million euros)
In the residential El Viso neighborhood, Gran Roque Capital has completed construction of a new residential complex — a rare type of housing for this restrained and elegant Madrid district.
The complex consists of eight houses of 447 m² with excellent views thanks to four free facades.
The territory features a large garden with a grove of trees and a pool, as well as a wellness area, indoor pool, and gym.
These apartments, priced at 5 million euros, are sold by Colliers. The properties are ready for occupancy.
3. Alberto Bosch, 11 (from 2.9 to 7.4 million euros)
The complex is located in the Los Jerónimos district, steps away from Retiro Park, the Prado Museum, and the Botanical Garden, near Puerta de Alcalá and Cibeles Square.
This magnificent building has undergone complete reconstruction. It now houses one apartment per floor with four bedrooms. Prices range from 2.9 million euros to 7.4 million for a two-level penthouse with two terraces and a 70 m² rooftop garden.
Behind the project is Alzaria company, with sales also handled by Colliers. Key handover is expected in early 2022.
4. Claudio Coello, 11 (from 2.6 million euros)
The early 20th century building, owned by Abilia, has also undergone complete renovation. The architectural studio Bernar/Sainz de Vicuña (B/SV) implemented the project, striving to preserve the building’s unique style (with white marble and wrought iron grilles), combining it with modern requirements for space and lighting, as well as innovative materials (blued brass cladding and oak wood). “We approached with deep respect for the building’s protection level to emphasize the bourgeois architecture of the Salamanca district,” notes architect Manuel Bernar.
The result is a project of eleven luxury apartments with high ceilings, large doors, large windows, and original balconies. According to Knight Frank, which handles sales, only three properties remain available: one on the fifth floor and two penthouses. Prices start from 2.6 million euros, with key handover scheduled for the fourth quarter of 2022.
The noble character of the century-old building was also preserved through the restoration of one of the elements characteristic of Madrid architecture of that time — the inner courtyard. The aesthetic and recreational significance of the inner park was revived by integrating a gym and sauna into this space, as well as landscaped areas and an outdoor pool.
5. Paseo de la Habana, 147 (from 2.5 million euros)
On this famous and quiet Madrid street, Uniq Residential is building a complex of 58 luxury apartments ranging from 140 to 250 m² with 4,500 m² of common areas surrounded by century-old trees.
Prices range from 2.5 million euros to 4.5 million euros for the most expensive penthouse. Key handover is scheduled for the fourth quarter of 2022.
The complex includes three buildings with various housing types (three or four bedrooms): apartments with 24–46 m² terraces, ground floor apartments with gardens up to 360 m², duplexes with terraces up to 108 m², and penthouses with 117 m² terraces and a private pool in the largest one.
In addition to the garden where century-old trees have been preserved, residents of this urban oasis have access to an infinity pool over 20 meters long and a gym. The entire complex is provided with 24-hour security and concierge service using the latest security systems.
The complex is being built on a 7,500 m² plot opposite the Cuban consulate — one of the most sought-after plots in the capital, considering the land shortage for multi-story construction in this area.
6. Padilla, 66 Green Houses (from 640,000 to 3 million euros)
Again in the Salamanca district, in the Lista area, is located the Padilla 66 project. It provides for complete reconstruction of an existing building with an increase in the number of apartments to 25 units — with 1, 2, 3, and 4 bedrooms, including two-level penthouses and ground floor apartments with terraces — as well as equipping the building with underground parking for 36 spaces and storage rooms.
The cost of apartments, sold by Promora, ranges from 640,000 euros to 3 million euros. Key handover is scheduled for January 2023.
Each apartment is designed with maximum attention to detail, high-quality finishes, and top-class materials.
Vegetation plays a leading role in this project — both in the private garden and in the conservatories arranged in each apartment. In addition to green areas, owners have access to a pool and gym.
7. Alcántara, 25 (from 600,000 to 2 million euros)
This complex offers housing that differs from the usual offerings of the Salamanca district. Modern city loft living — a new format in the Goya area, where apartments are designed as lofts with open spaces. The complex includes thirty studios, twenty-one one-bedroom apartments, and ten two-bedroom apartments. Area ranges from a 68 m² studio to a 191 m² penthouse. Besides the quality of materials, the properties stand out for ceiling heights of more than four and a half meters and large floor-to-ceiling windows.
Promora agency, responsible for sales, characterizes the project as “innovative, created for those seeking a privileged location and atmosphere with a note of modernization and exclusivity.” Prices range from 600,000 euros to 2 million euros, with key handover scheduled for December 2023.
Common areas include a rooftop pool with solarium. The lobby features a spacious lobby, meeting room, projection hall, package storage room, and refrigerated chamber. The building provides concierge service and 24-hour security, as well as parking spaces.
8. Teatro Gran Vía, 30 (from 780,000 to 2 million euros)
This luxury complex is located in the heart of Madrid, on the famous Gran Vía street. Thor Equities, together with Robledo Arquitectos, is implementing a project of 28 apartments with 2 and 3 bedrooms ranging from 135 to 195 m², which will be built behind the facade of the former Fontalba Theater. Penthouses will be equipped with terraces up to 80 m² with panoramic views of the capital.
One of the main advantages of the project is its location in the city center. This is a dynamically developing area of the capital that gained momentum thanks to the luxury Centro Canalejas Madrid project. The location of Teatro Gran Vía 30 is particularly attractive, as it’s an atypical residential location on one of the city’s most beautiful, famous, and significant streets.
Sales of the 28 apartments at Teatro Gran Vía 30 are handled by Colliers and Knight Frank. Prices range from 780,000 euros to 2 million euros. Key handover is scheduled for the second half of 2022.