Calle Serrano: The Most Expensive Street In Spain

4 March 2015 – Cinco Días

Tenants now pay rents of €32 per square metre on the exclusive Madrileñian shopping street

The most expensive rents in Spain are paid on Calle Serrano in Madrid (€32 per square metre), followed by the Paseo de Gracia in Barcelona (€29 per square metre).

According to a study conducted by TecniTasa, after these iconic streets in Madrid and Barcelona, the next most expensive rents in Spain are paid in Pamplona, where tenants are charged more than €25 per square metre.

Rental costs in Santander, Marbella and Cádiz now exceed €17 per square metre, and so these cities replace La Coruña, San Sebastián and Bilbao in the list of most expensive rental prices.

By contrast, the report indicates that the lowest rents are paid in the cities of Castellón, Elche, Huelva, Almería, Granada and Torrent, in Valencia, where the cost per square metre amounts to less than €2 per month.

The study concludes that house rental prices are continuing their downward trend in Spain, however these decreases are more significant in the more expensive areas, whilst the prices in the cheapest neighbourhoods are showing slight increases in some cities.

Rental housing on one of the iconic streets of cities such as Madrid, Barcelona, Pamplona, La Coruña, San Sebastián and Bilbao costs more than €2,000 per month.

This data contrasts with the values charged in the cheapest neighbourhoods of Alicante, Elche, Almería, Castellón, Granada, Huelva and Torrent, where it is still possible to rent a home for less than €200 per month.

Original story: Cinco Días

Translation: Carmel Drake