Spain has luxurious boulevards in big capitals and exclusive properties in residential neighborhoods. A rivalry that places the most expensive streets of Madrid and Barcelona among the most sought in Europe.
From time to time, a new ranking of prestigious avenues positions the main commercial and residential as axis for the big cities.
In both cases, with few exceptions, Madrid and Barcelona tend to occupy the top positions. Among the most expensive streets, the central Madrid’s ‘almond’ and the emblematic Eixample of the city of Barcelona are a must.
Capitals next to which the historical center of San Sebastián, Sevilla, Valencia or Palma de Mallorca also gained importance.
Commercial avenues of reference
Two Spanish boulevards close the Top 20 of Europe’s main commercial routes, according to Cushman & Wakefield’s ‘Main Streets Across World 2016/2017‘ study.
In this report, the consultant studies the rental price during the last year in the 462 most exclusive commercial avenues in 71 countries worldwide.
Among the most expensive streets are the Portal del Ángel de Barcelona with € 3,300 / m2 per month (€ 3,240 in 2015) or Calle Preciados in Madrid with € 3,060 per month (€ 3,000 in 2015).
Avenues well positioned internationally, but far from others such as Fifth Avenue in New York (€ 29,065 / m2), the Causeway Bay area of Hong Kong (€ 27,884 / m2) or the Avenue des Champs-Elysees in Paris (13,255 € / m2).
Other commercial boulevards include the Pg de Gracia in Barcelona (€ 2,940), Serrano Street (€ 2,880) and Gran Via in Madrid (€ 2,820), Pelai Street in Barcelona (€ 2,100) and Calle Fuencarral € 2,100) and the Goya (€ 2,040) in Madrid.
All of them above two thousand euros per month, followed by the Tetuan Street in Seville, Gran Via in Bilbao, Calle Colon in Valencia, Jaime III in Palma or Pl of Independence in Zaragoza.
The most expensive streets to live in
The appraisal company TecniTasa has published a new price report for the residential market in Spain.
In this new edition, Calle Serrano de Madrid consolidates thefirst position with 10,426 € / m2, becoming the Salamanca neighborhood a reference for residential luxury.
Not in vain a few days ago, Serrano starred in the sale of the most expensive penthouse after the crisis. An operation valued at 9 million euros.
In second position we find the Pg de Gracia de Barcelona with € 8,957 / m2 which is revalued by 6% per year and in the third San Sebastián. Libertad and Libertad avenues with Plaza Gipuzkoa and Calle Hernani, valued at 6,820 € / m2 increased by 11%.
They complete the Top 6, Puerto Banus in Marbella with 5.559 € / m2, the area of the Sardinero in Santander with 5,359 € / m2 and the Paseo Sarasate of Pamplona with 5,048 € / m2.
In its report, TecniTasa also highlights the excellent behavior of the Spanish archipelagos by the rebound in the sale price. Balearic Islands rising between 5 and 8%, and the Canary Islands increasing between 2 and 4%.
This is how the large residential and commercial axis of Spain consolidate their position in the international real estate market.
