The stadium renovation has caused a significant increase in nearby property prices. Both in terms of purchase and rental costs, prices have risen by as much as 30% compared to five years ago. The areas surrounding Real Madrid's new home have become even more popular, and street vendors are also demanding their return.

The further, the more expensive

Homes around the new Santiago Bernabéu have recently been in the media spotlight. Summer concerts triggered complaints from residents due to the noise, leading Real Madrid to temporarily suspend such events to comply with city noise regulations.

Properties located near the stadium, in the Chamartín district, have seen a price increase of over 30% in the last five years. Between 2019 and 2024, the renovation of Santiago Bernabéu, accompanied by an urban development project aimed at improving the environment, has led to a rise in the value of all homes located at least 900 meters from the stadium. According to a report by the real estate portal Fotocasa, the price per square meter of homes less than 300 meters from the stadium has risen by 20%. In 2019, the price was €5,463/m², and now it is €6,582/m². A 90 m² apartment would therefore cost €592,380.

For apartments located between 300 and 600 meters from Bernabéu, a similar 20% increase has been recorded. Prices have gone from €5,824/m² in 2019 to €7,122/m², making a 90 m² apartment worth around €640,980. For homes located a bit farther, between 600 and 900 meters, the most significant increase of at least 33% has occurred. In 2019, the price was €4,991/m², while now it can reach €6,650/m². A 90 m² apartment would cost almost €600,000.

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The rental market has also experienced a notable increase over the past 5 years. For homes less than 300 meters from the stadium, the rental price per square meter in 2019 was €17.76, while now it stands at €18.57, marking a 4.6% increase. Renting a 90 m² apartment would now cost €1,671. For homes located 300-600 meters away, the rent is €21.45/m², up 20% from €17.85/m² in 2019. Renting a 90 m² apartment would cost €1,930. Similarly, the largest increase has been for homes located between 600 and 900 meters away, where the price per square meter has risen from €18.55 to €24.49, marking a 32% increase. Renting a 90 m² apartment would now cost €2,204.

When will the stalls return?

The Madrid Street Vendors Association is demanding that the city council reinstate the stalls to their iconic location. Vendors are eagerly awaiting permission from the Chamartín District Board, which is part of the Madrid City Council led by José Luis Martínez-Almeida.

Despite the busy match schedule and thousands of Real Madrid fans, Calle Rafael Salgado remains empty. Before the stadium's renovation, everything from food and drinks to club merchandise could be purchased there.

Delays are due to the fact that the Cibeles management board has yet to formally hand over the street. Although the construction work has been completed, the stalls cannot yet return. During a plenary session on September 11, vendor representatives questioned Chamartín district councilor Yolanda Estrada about the progress. She responded by setting a 20-day deadline to find a solution, but the wait continues.

© Madrid1902

Vendors are concerned about their future

In an interview with ElPlural.com, the Madrid Provincial Association of Street Vendors and Markets emphasized that there is now more space than before on Calle Rafael Salgado: "We hope that the councilors will inform us what will happen to the nearly 90 families and other workers involved in this activity." Vendors are worried about their future, especially amid the controversy surrounding noise and the canceled concerts at Bernabéu, which will likely delay the return of the stalls. The association stresses that it is not part of the conflict: Our activity is historic. Meanwhile, the vendors' financial losses continue to grow.