Frankly.
Photo of Sprawling 3-bed penthouse with 275 m² terrace in Recoletos, Salamanca
This home has been sold.The agency marked it sold on 11 September 2026. It is kept here for reference.

Sprawling 3-bed penthouse with 275 m² terrace in Recoletos, Salamanca

Recoletos
Bedrooms
3
Built area
298 m²

Is this price fair

Priced below what homes like it suggest.

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

The homes we compared it with.

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.

The market over time

How this home’s market has moved

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

This price against Recoletos’s history

€12,248per m², this home’s asking price

Recoletos’s registered sales averaged €14,032 per m² in 2025, about €15,150 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.

2025Recoletos€14,032Salamanca€9,391This home, asking€12,248

This price against Recoletos’s history
YearRecoletosSalamanca
TodayThis home, asking €12,248
2025€14,032€9,391
2024€12,398€7,765
2023€11,856€7,375
2022€10,241€6,463
2021€8,142€5,647
2020€8,258€5,479
2019€8,554€5,740
2018€7,522€5,399
2017€6,978€4,807
2016€5,894€4,146

Gross yield on long-term rents, over time

2.1%gross yield in Recoletos, 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.

2024Recoletos2.1%Salamanca2.8%

Gross yield on long-term rents, over time
YearRecoletosSalamanca
20242.1%2.8%
20232.0%2.8%
20222.2%3.0%
20212.7%3.3%
20202.6%3.4%
20192.5%3.2%
20182.7%3.1%
20172.7%3.3%
20163.0%3.7%

Homes sold each year in Recoletos

263homes sold in 2025

down 6.4%in a year

Registered sales, second-hand and new. 39 of them were new-build. Recoletos is 11.2% of Salamanca’s sales.

2025Homes sold263Share of Salamanca11.2%

Homes sold each year in Recoletos
YearSoldOf Salamanca
202526311.2%
202428111.1%
202324312.4%
202228812.5%
202119710.2%
2020906.5%
201916110.6%
201824811.7%
201729412.9%
201630414.9%
Our estimate

What tenants pay on existing leases in Recoletos

€21.76per m² a month

up 8.8%in a year

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

2024Recoletos, our estimate€21.76Salamanca€18.31

What tenants pay on existing leases in Recoletos
YearRecoletos, our estimateSalamanca
2024€21.76€18.31
2023€20.00€17.21
2022€19.01€16.35
2021€18.35€15.67
2020€18.04€15.60
2019€17.85€15.32
2018€16.62€13.94
2017€15.60€13.16
2016€14.86€12.70
2015€13.82€12.26
2014€14.32€12.00
2013€13.37€12.20
2012€13.60€12.66
2011€14.28€12.82

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.

BuyersRecoletos district

Who buys in Recoletos: 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 · Recoletos

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

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

€95,137household income a yeara year

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

Official barrio

People

Population
down 2.6% in a year
15,223
Average age
Madrid 44.2
46.7
Aged 65 or over
Madrid 20.7%
26.1%
Registered unemployment
Madrid 5.8%
2.5%
Years of income to buy
average-size home (153 m²) ÷ household income · Madrid 9.7
24.4 years

SaleRecoletos · askingasking

€15,867per m²

Madrid, homes we track: €11,013

Price trend

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
€15,150/m²
Asking vs sold
Homes we track ask about 5% more than recorded sales in the same barrios.about 5% more, same barrios
+5%

Homes for sale now

Priced below our fair value
of 560 homes we can read
29%
Typical time advertised
since we first saw each one
133 days
Have cut their price
63 of 618
10%

RentRecoletos · askingasking

€38.5per m² a month

Madrid, homes we track: €29.5

What tenants pay on existing leases

In 2024 · our estimate
up 4.2% that year
€21.8 per m²

Homes to rent now

To rent now
homes we track
43
Typical asking rent
half ask less, half more
€4,950 a month
Typical time listed
since we first saw each one
19 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.

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

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
—with a liftnot stated in the listing

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.

€3,650,00018% below fair value