Next Neighbourhoods 2021: Paseo de la Direccion, Madrid, Spain
Located in the district of Tetuán, Paseo de la Direccion went through a period of rejuvenation ten years ago, the effects of which can still be seen now. Despite this, the area – with its cultural diversity and varied architecture, ranging from skyscrapers to historic low-rise houses – maintains the unique personality that forms the basis of its atmosphere and appeal. The bustling and picturesque main street, Bravo Murillo, is lined with characterful shops.
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Why is it primed for growth?
The appeal of this fast-growing area continues to strengthen thanks to the number of new residential projects currently under construction. One of the last available areas for development within the M-30 ring road, it is just 3km from the Cuatro Torres Business Area and less than 10km from Puerta del Sol.
The completion of projects such as Madrid Skyline will be a great boost and help create links with other areas with strong growth potential including Castellana Norte, Puerta de Hierro and La Dehesa de la Villa. The remodelling and general improvements being carried out by the City Council are another important factor in the area’s development.
My favourite bits:
The Mercado Maravillas first opened in 1942 and, with more than 200 shops, is the biggest market in Madrid and one of the largest in Europe. Later, enjoy a mix of food and art at Nave María, take a walk in the Parque de Agustín Rodríguez Sahagún or visit the open-air graffiti museum of Tetuán.
You cannot end your journey without trying a traditional dessert, the “king’s cake” or Roscón de Reyes. Head to the Horno San Onofre in Hernani Street for some of the best in the city.
What will my money buy me?
Prices currently average more than €4,000 sq m for a brand new home.
One thing the locals like to keep secret:
General Margallo Street is Madrid’s Chinatown. The grocery stores here offer an amazing range of international ingredients, including Chinese, Japanese and Vietnamese. Or, if you’d rather someone else did the cooking, head for DiverXO for some culinary fireworks courtesy of celebrity chef Dabiz Muñoz.