€3,650,000
18% below our fair value · Learn whyAm I overpaying to live here
Asking is €3,650,000, 18% below 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.
Listings that informed this estimate · Recoletos
We compared it with 40 homes on sale in Recoletos, each of 240–355 m². The middle half of them, priced at this flat’s 298 m², gives the fair range above. These are the eight closest in size.
Asking prices, not sale prices · sorted by closest in size
This listing€12,248/m²Sprawling 3-bed penthouse with 275 m² terrace in Recoletos, Salamanca
298 m² · 3 beds
The home you are looking at
€16,443/m²3-bed penthouse with terrace on Recoletos in Recoletos, Salamanca
298 m² · 3 beds · 5 baths
Much like this one on the facts listed
€14,073/m²2-bed classic penthouse with terrace in Recoletos, Salamanca
302 m² · 2 beds · 4 baths
1st floor, lift
Spacious 5-bed penthouse with terrace in Recoletos, Salamanca
305 m² · 5 beds · 3 baths
Needs a full renovation · 7th floor, lift
€13,709/m²1-bed penthouse with 305 m² terrace in Recoletos, Salamanca
306 m² · 1 bed · 4 baths
New or fully renovated · Exterior
€11,290/m²4-bed penthouse with terrace on Castellana in Recoletos, Salamanca
310 m² · 4 beds · 4 baths
Much like this one on the facts listed
€14,286/m²3-bed penthouse with terrace in Recoletos, Salamanca
315 m² · 3 beds · 4 baths
Exterior · Ground floor
Corner 4-bed apartment with terrace on Castelló in Recoletos, Salamanca
278 m² · 4 beds · 5 baths
Exterior · 6th floor, lift
€20,324/m²2-bed penthouse with terrace in Recoletos, Salamanca
278 m² · 2 beds · 4 baths
New or fully renovated · 4th floor, lift
The neighbourhood · Recoletos
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.
€95,137a year
Household income · Madrid €49,916
Official barrio
People
€15,867per m²
Madrid, homes we track: €11,013
Price trend
up 11.0%in a yearup 1.6%on the quarter
Official price index · all second-hand sales in the district · Salamanca figure
What homes here sold for
Homes for sale now
€38.5per m² a month
Madrid, homes we track: €29.5
What tenants pay on existing leases
Homes to rent now
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.
No grade for mortgage defaults or homes occupied without a lease (ocupación), on purpose. Spain publishes both only for the whole province, so a Recoletos grade would be invented precision.
The building itself
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.
Things that would change the deal
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.
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.
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.
Being sold at auction
Subasta. You usually cannot view it first, and you may take on the previous owner’s debts on the property.
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.
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.
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.
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).
It tells you what to ask, what to budget, and what a fair number looks like. The verified agent can tell you the rest.
An independent buyer’s agent Frankly has verified. 30 minutes, free, no obligation. Paid by you, not by the seller.
How we got these numbers
Every figure in this section: what it measures, where it comes from, and what we did to it.
Attribution
Listing prices belong to the agencies that publish them. Frankly does not verify them.
How we got these numbers
We compared it with 40 homes on sale in Recoletos, each of 240–355 m². The middle half of them, priced at this flat’s 298 m², gives the fair range above. These are the eight closest in size. Every figure in this section: what it measures, where it comes from, and what we did to it.
Attribution
Listing prices belong to the agencies that publish them. Frankly does not verify them.
How we got these numbers
Every figure on this card: what it measures, where it comes from, and what we did to it. Figures cover the official barrio.
Attribution
Elaboración propia con datos extraídos del sitio web del INE: www.ine.es, 2023. Licence CC BY 4.0.
Origen de los datos: Ayuntamiento de Madrid, 2025–2026. Licence CC BY 4.0.
Comunidad de Madrid, IPVCM, Q2 2026. Licence CC BY 4.0.
Source: Colegio de Registradores, via Ayuntamiento de Madrid statistics.
How we got these numbers
Every figure on this card: what it measures, where it comes from, and what we did to it.
Attribution
Comunidad de Madrid, IPVCM, Q2 2026. Licence CC BY 4.0.
Source: Colegio de Registradores, via Ayuntamiento de Madrid statistics.
Listing prices belong to the agencies that publish them. Frankly does not verify them.
How we got these numbers
Every figure on this card: what it measures, where it comes from, and what we did to it.
Attribution
Elaboración propia con datos extraídos del sitio web del INE: www.ine.es, 2024. Licence CC BY 4.0.
Source: Ministerio de Vivienda y Agenda Urbana, SERPAVI, 2011–2024 database (file last updated 9 July 2026); figures for 2024. Reused under the ministry’s terms, which require this citation.
Listing prices belong to the agencies that publish them. Frankly does not verify them.
How we got these numbers
Every figure in this section: what it measures, where it comes from, and what we did to it.
Attribution
Listing prices belong to the agencies that publish them. Frankly does not verify them.