The 4 favourite neighbourhoods for young people to live in Madrid

Young people, aged between 25 and 35, are the segment targeted by real estate agencies and developers as they begin to enter the property market. Why? They finish their studies, start their jobs and begin their independent life, detached from the family home.

Most of them choose to look for housing in areas they know and have lived in. In the case of Madrid, they also choose certain areas for professional reasons. However, the prices in these neighbourhoods are not always affordable for young people.

According to the real estate big data platform Brains Real Estate, these are the areas where most people between 25 and 35 years of age live in Madrid.

The Centro area is the district of Madrid with the highest percentage of people under the age of 35, according to Brains Real Estate. It should be noted that it is the area of the capital with the highest number of people between 25 and 35 – 21.3% – although it is not the one with the highest number of people under 25, only 7.1%. In total, 28.4% fall into the young segment. In addition, the Centro has the greatest number of offers to rent, 65% of the area's stock, according to Brainsre.


Renting a property in this district is not cheap. A tenant pays on average 17.1 euros per square metre per month. According to Brains Real Estate's Big Data real estate platform, a one-bedroom property costs around 950 euros.


Buying real estate here is not affordable either, with prices hovering around 4,800 euros per square metre. Average prices are 278,765 euros for a one-bedroom; 459,479 euros for a two-bedroom; 671,626 euros for a three-bedroom; and 843,448 euros for a four-bedroom property.

With 9% of people between 15 and 25 years of age, and 17.5% between 25 and 35, Tetuán is the district with the second highest proportion of youth. Just over one in four people in the area belong to this age group.

In a district with 58% of the supply for rent, it is the district with the lowest price, 14.3 euros per square metre. In the case of purchase, they are also the cheapest, 3,565 euros/m2.

The Salamanca neighbourhood has a high percentage of young people, compared to the average for the city – 24.8% are over 15 and under 35.

The Salamanca district is currently less accessible for young people. Any young person who wants to become independent here should be aware that they will pay more for housing than anywhere else in Madrid, either through buying or renting. According to Brains Real Estate, prices per square metre in sales transactions exceed 5,100 euros. In the case of renting, it will cost 17.5 euros per square metre, on average. The price of one-bedroom properties is above 1,000 euros.

In fourth place comes Chamberí. This district has 24.3% of the population aged between 15 and 35. Of this, 8.2% are under 25 years old and 17.1% are older.

56% of the housing supply is for rent. On average, the price of this stands at 16.4 euros per square metre. Prices vary from 962 euros on average for a one-bedroom to 2,289 euros for a four-bedroom apartment. It is the third most expensive district to rent a property.

Chamberí is the second most expensive area in Madrid to buy a property. The price per square metre is over 5,000 euros and rises the closer the property is to the Paseo de la Castellana.

At a national level, the country is divided into three very different areas: a northern area (Galicia, Castilla y León, Asturias, Cantabria and the Basque Country) where the population is older and the need for housing for youth is less.

Map from the Brains Real Estate Big Data platform. In light green – the areas of Spain where the proportion of population between 25 and 35 years of age is lower, versus the darker area where it is higher.

Also, part of the plateau and the east coast (Catalonia, Aragon, Valencia and Castilla La Mancha) show a similar trend, although not as excessive as the first group.

On the other hand, Madrid, the Balearic Islands and a large part of Andalusia have a larger percentage of the young population.

According to a report by Fotocasa, 59% of people under the age of 35 are currently looking to rent a home, 5% more than a year ago. Meanwhile, 27% interact in the sales market, 4% less than in August 2020. Finally, 14% are involved in both.

The main reasons for choosing to rent, according to the report, are the weak economic situation (52%), the flexibility provided by renting (31%), and job mobility (30%).


Source:https://brainsre.news/zonas-madrid-jovenes-demandaran-vivienda