Thanks to the renovation of Estadio Santiago Bernabéu, the venue will soon become the most modern stadium in Europe. However, around this magnificent investment, which is like a monument to Florentino Pérez, normal life continues.

How did the renovation affect housing prices?

According to data provided by Feixu Pérez, the sales director of the real estate advisory firm ROAN, property purchase and rental prices in the vicinity of Estadio Santiago Bernabéu have increased by 6% and 11%, respectively. Currently, this part of Madrid is one of the most sought after among people looking to combine entertainment with job opportunities.

In the immediate vicinity of the stadium, there are two business districts: AZCA and Cuatro Torres Business Area. There are also schools for children and adults, as well as a conference center. Additionally, well-organized public transportation allows quick access to the most popular places in Madrid. Despite the presence of various institutions, this district is known for its tranquility and quality of life.

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Average customer profile

Families, whose oldest members are typically between 45 and 55 years old, are the main buyers of apartments near Bernabéu. These individuals, usually with significant purchasing power, chose to sell their properties on the outskirts or in other less central neighborhoods to enjoy the amenities offered by this area. According to the latest report on this district, most of the apartments listed for sale or rent come from inheritance from parents or other family members of the current owners. This affects the condition of the properties, which often require a major renovation or at least a thorough refresh, but this does not deter potential buyers.

The biggest issue seems to be parking problems—blocks in this part of the city often lack their own underground garages or parking spaces. In an article, El Confidencial Digital provided an example of an apartment for rent on Santiago Bernabéu Street in the El Viso district, about 400 meters from the Real Madrid stadium. The monthly rent for a 120-square-meter apartment with 3 rooms and 2 bathrooms, in need of renovation, is €2,250.

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Will the Bernabéu surroundings lose attractiveness?

However, there are concerns that potential increases in noise due to a large number of planned events at the new Santiago Bernabéu and the growing parking problem will negatively impact the quality of life for residents and, consequently, decrease the attractiveness of the entire area. Feixu Pérez points out that the biggest problem lies not in the aforementioned factors but in the presence of Los okupas—individuals or groups who illegally occupy properties without legal basis.

Fear of losing property due to illegal occupation has prompted many owners to limit the sale or rental of their homes, thereby generating high demand and low supply in this area of Madrid, contributing to the rise in prices, according to the sales director of ROAN.

© Madrid1902