Madrid is the capital of Spain and the surrounding Community of Madrid, located in the centre of the country on the Manzanares and the Arroyo Meaques. Situated at an elevation of 663 metres, it is the administrative, economic, and academic heart of the nation. The city is home to major institutions including the Complutense University of Madrid, IE University, and the Autonomous University of Madrid, and is served by Madrid-Barajas Airport.
Property in Madrid is expensive, costing nearly twice the average for Spain. The housing stock is distributed across distinct districts, with Salamanca holding the largest share of homes and commanding the highest prices in the city, well over double the city average. Chamberí also holds a significant portion of the housing and remains highly priced. By contrast, districts like Tetuán and Arganzuela offer more affordable options, while Carabanchel, located further out, is among the cheapest areas to buy or rent, costing a fraction of what is asked in the prestigious central neighbourhoods.
