Next Neighbourhoods: Madrid Nuevo Norte, Spain
Rosa Uriol of Knight Frank Madrid explains how Madrid Nuevo Norte will extend more than five km from the Plaza de Castilla area up to Monte de El Pardo, bridging the gap between the city centre and the northern neighbourhoods, making it an area to watch
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Why is the area up and coming?
Currently the area is a mixture of new business areas such as the Cuatro Torres, residential areas like the old railway workers colony and the train station itself. The future project will move the financial district of Madrid city, combining residential and working areas alongside a new train station, plenty of green areas and a retail and leisure offer.
My favourite bits
Paseo de la Castellana is the main artery of Madrid, home to all the major companies and renowned for its after-work atmosphere, with a gastronomic and leisure offering to match. The sky’s the limit at Doña Tecla, a bar/restaurant with a great roof terrace. And who could forget Real Madrid football team? The world-renowned Santiago Bernabéu football stadium is on the doorstep.
Who’s buying?
Both national and international clients, professionals and high-income families.
What will my money buy me?
The first properties are expected to come to market in 2020. On average, a 90 sq m apartment will cost around €600,000 while we would estimate prices of €2 million-plus for a 250 sq m penthouse.