Frankly.
Photo of Elegant 2-bed apartment with terrace in Chueca, Centro

€1,900,000

37% above our fair value · Learn why

Elegant 2-bed apartment with terrace in Chueca, Centro

Chueca, Justicia
View the listing on Coldwell Banker (opens in a new tab)
Bedrooms
2
Bathrooms
3
Built area
154 m²

Is this price fair

Priced above what homes like it suggest.

Asking is €1,900,000, 37% above what similar homes nearby suggest. The range they point to, and what the gap costs you each month, open with a free account.

See the fair range and the three checks

Free with an account. You get the range similar homes point to, what the gap would cost you each month, and where every number comes from.

No price change since we first saw it on 26 Sep 2026. How sellers negotiate in Justicia →

Listings that informed this estimate · Justicia

The homes we compared it with.

We compared it with 142 homes on sale in Justicia, each of 133–175 m². The middle half of them, priced at this flat’s 154 m², gives the fair range above. These are the eight closest in size.

Asking prices, not sale prices · sorted by closest in size

Elegant 2-bed apartment with terrace in Chueca, CentroThis listing€12,338/m²

Elegant 2-bed apartment with terrace in Chueca, Centro

154 m² · 2 beds · 3 baths

€1,900,00037% over

The home you are looking at

3-bed apartment with terrace in Cortes, Centro€8,760/m²

3-bed apartment with terrace in Cortes, Centro

154 m² · 3 beds · 3 baths

€1,349,0004% under

1st floor, lift

Elegant 3-bed apartment with terrace in Cortes, Centro€8,955/m²

Elegant 3-bed apartment with terrace in Cortes, Centro

154 m² · 3 beds · 3 baths

€1,379,000About typical

2nd floor, lift

Classic 3-bed apartment with terrace in Malasana, Centro€9,673/m²

Classic 3-bed apartment with terrace in Malasana, Centro

153 m² · 3 beds · 2 baths

€1,480,0006% over

Exterior

Bright 2-bed apartment with terrace in Huertas, Centro€9,211/m²

Bright 2-bed apartment with terrace in Huertas, Centro

152 m² · 2 beds · 3 baths

€1,400,000About typical

2nd floor, lift

2-bed apartment in classic building in Centro€7,340/m²

2-bed apartment in classic building in Centro

156 m² · 2 beds · 2 baths

€1,145,00019% under

Exterior · 3rd floor, lift

Spacious 5-bed apartment with terrace in Centro€6,410/m²

Spacious 5-bed apartment with terrace in Centro

156 m² · 5 beds · 2 baths

€1,000,00029% under

1st floor, lift

Elegant 3-bed apartment with terrace in Cortes, Centro€7,219/m²

Elegant 3-bed apartment with terrace in Cortes, Centro

151 m² · 3 beds · 2 baths

€1,090,00021% under

Exterior · 1st floor, lift

Spacious 3-bed apartment in classic building in Malasana, Centro€8,535/m²

Spacious 3-bed apartment in classic building in Malasana, Centro

157 m² · 3 beds · 3 baths

€1,340,0006% under

Needs a full renovation · Exterior

If you rented it out as someone’s home

Two different things get called rent in Spain.

Everything here is long-term residential rent: a lease for someone’s home, never a tourist or short-stay let. Asking rent is what landlords advertise today. Rent on existing leases is what tenants pay, as recorded in tax returns, and it reaches the statistics about two years later. It runs lower; the yield here is on asking.

The rental numbers come with the search pass.

Asking rent, yield, running costs and the five-year view for this home.

The market over time

How this home’s market has moved

Justicia, from official records. A ring marks where this home’s asking price sits. None of these lines is a forecast.

This price against Justicia’s history

€12,338per m², this home’s asking price

Justicia’s registered sales averaged €9,544 per m² in 2025, about €9,750 brought forward to this quarter. The ring is this home’s asking price, not a sale. Past rises aren’t assumed in the five-year figures above.

2025Justicia€9,544Centro€7,171This home, asking€12,338

This price against Justicia’s history
YearJusticiaCentro
TodayThis home, asking €12,338
2025€9,544€7,171
2024€7,914€6,280
2023€7,568€5,705
2022€6,919€5,443
2021€6,166€4,903
2020€6,229€5,194
2019€5,943€5,104
2018€5,882€4,817
2017€5,246€4,120
2016€4,346€3,524

Gross yield on long-term rents, over time

2.8%gross yield in Justicia, 2024

down 0.9 pointssince 2016

Rents on existing long-term leases (flats only), over the prices of second-hand homes sold that year. Gross, before costs.

2024Justicia2.8%Centro3.4%

Gross yield on long-term rents, over time
YearJusticiaCentro
20242.8%3.4%
20232.8%3.5%
20222.9%3.5%
20213.2%3.7%
20203.1%3.5%
20193.3%3.6%
20183.0%3.5%
20173.1%3.8%
20163.7%4.3%

Homes sold each year in Justicia

380homes sold in 2025

down 10.8%in a year

Registered sales, second-hand and new. 188 of them were new-build. Justicia is 13.9% of Centro’s sales.

2025Homes sold380Share of Centro13.9%

Homes sold each year in Justicia
YearSoldOf Centro
202538013.9%
202442616.7%
202332314.4%
202240915.8%
202130414.9%
202021813.1%
201935915.3%
201844516.8%
201740514.9%
201629514.3%
Our estimate

What tenants pay on existing leases in Justicia

€18.47per m² a month

up 3.2%in a year

Our estimate for Justicia, built from the rents declared in its census sections (small areas the statistics office uses). Not a published figure. Centro’s published median for comparison.

2024Justicia, our estimate€18.47Centro€17.70

What tenants pay on existing leases in Justicia
YearJusticia, our estimateCentro
2024€18.47€17.70
2023€17.89€16.77
2022€16.83€16.01
2021€16.25€15.32
2020€16.22€15.36
2019€16.22€15.27
2018€14.56€13.92
2017€13.60€13.17
2016€13.48€12.71
2015€12.58€12.25
2014€12.42€12.02
2013€12.45€12.12
2012€13.02€12.70
2011€13.03€12.80

Who buys in this district

Who buys here, and how.

Spain’s land registry publishes who completes purchases, by district: where buyers come from, and whether they buy through a company. Names are never included.

BuyersJusticia district

Who buys in Justicia: official figures are on their way.

Coming

  • Buyers from outside Spain
  • Buying through a company
  • How long owners keep a home

Nothing here is estimated. Each figure appears once it is loaded from its source and checked. Buyer figures are published for the whole district, never for a single street or home.

The neighbourhood · Justicia

Justicia: who lives here, what homes sell for, what they rent for.

This flat is in Chueca, a barrio (neighbourhood) of the Justicia district. The people who live here, what homes sell for and what rent costs, each set against Madrid city. Green means up, red means down, blue means little change.

Neighbourhood

€57,691household income a yeara year

Madrid €49,916Household income · Madrid €49,916

Official barrio

People

Population
down 4.0% in a year
18,140
Average age
Madrid 44.2
44.3
Aged 65 or over
Madrid 20.7%
17.1%
Registered unemployment
Madrid 5.8%
4.6%
Years of income to buy
average-size home (93 m²) ÷ household income · Madrid 9.7
15.7 years

SaleJusticia · askingasking

€12,676per m²

Madrid, homes we track: €11,049

Price trend

up 3.4%in a yeardown 1.9%on the quarter

Official price index · all second-hand sales in the district · Centro figure

What homes here sold for

Homes here sold for about
registered sales in the barrios where the homes we track are, brought up to this quartersame barrios as the homes we track
€9,750/m²
Asking vs sold
Homes we track ask about 30% more than recorded sales in the same barrios.about 30% more, same barrios
+30%

Homes for sale now

Priced below our fair value
of 166 homes we can read
11%
Typical time advertised
since we first saw each one
135 days
Have cut their price
26 of 201
13%
Homes for sale in Justicia

RentJusticia · askingasking

€32.5per m² a month

Madrid, homes we track: €30.7

What tenants pay on existing leases

In 2024 · our estimate
up 4.1% that year
€18.5 per m²

Homes to rent now

To rent now
homes we track
15
Typical asking rent
half ask less, half more
€4,495 a month
Typical time listed
since we first saw each one
174 days

Asking rents are for homes advertised today. What tenants pay on existing leases comes from tax returns, runs about two years behind and is usually lower.

Homes to rent in Justicia

No grade for mortgage defaults or homes occupied without a lease (ocupación), on purpose. Spain publishes both only for the whole province, so a Justicia grade would be invented precision.

The building itself

What the advert says about the building, and how to check it.

Spain’s land registry (the Catastro) records every building’s size, age and use. The first two figures are the agency’s; pull the building’s own record below to check them.

—the year it was builtnot stated in the listing
Ground floorwith a liftas the listing states

Get the building’s Catastro record

Type the street address from the viewing, or the 20-character cadastral reference from the IBI bill. We look it up in the Catastro and set it against the advert. Free.

Free with an account. You’ll come straight back here after signing in.

Get the building’s Catastro record

No address yet? Frankly’s verified agent or the agency can give it to you after a viewing.

What comes back

Built areathe Catastro’s figure, against the advert’s 154 m²
—
Year built
—
Useresidential, office, shop…
—
Homes in the buildingand other units
—
This homefloor and door
—
Cadastral reference20 characters
—

Things that would change the deal

Spanish situations that catch foreign buyers out.

None of these are unusual in Spain, and none of them are visible in a photo. Each one changes what you are actually buying.

  • Sold with a tenant already in it

    Vendido con inquilino. You inherit their contract — in Spain that can run five more years at the rent they already pay.

    Ask the agency

  • You buy it, the seller keeps living in it

    Nuda propiedad, literally “bare ownership”. You own the home but cannot use or let it until the seller dies. Prices look like a bargain for this reason.

    Ask the agency

  • Someone is living there without a lease

    Vivienda ocupada. Resolving it goes through the courts and can take more than a year. Ask the agency whether the home is empty.

    Ask the agency

  • Being sold at auction

    Subasta. You usually cannot view it first, and you may take on the previous owner’s debts on the property.

    Ask the agency

  • No first-occupancy licence

    Sin licencia de primera ocupación. The building cannot legally be lived in yet, which also means most banks will not lend on it.

    Ask the agency

  • A big repair bill on the way

    Derrama (a one-off levy the building charges owners for big repairs, such as a new lift or facade). Ask for the last three years of owners’ meeting minutes (actas de la comunidad) to see what has been agreed.

    Ask the agency

  • Tourist lets in this district

    Vivienda de uso turístico (a licensed tourist flat). The city’s Plan Especial de Hospedaje restricts new ones in this district.

    Restricted here

We do not yet read listings for these. Ask the agency before you offer; your lawyer confirms each one in the nota simple (the land-registry extract).

None of this tells you whether to buy it.

It tells you what to ask, what to budget, and what a fair number looks like. The verified agent can tell you the rest.

Contact the listing agency

An independent buyer’s agent Frankly has verified. 30 minutes, free, no obligation. Paid by you, not by the seller.

€1,900,00037% above fair value