€3,570,000
48% below our fair value · Learn whyAm I overpaying to live here
Asking is €3,570,000, 48% 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 27 homes on sale in Recoletos, each of 350–500 m². The middle half of them, priced at this flat’s 425 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€8,400/m²Spacious 4-bed penthouse with terrace in Recoletos, Salamanca
425 m² · 4 beds · 4 baths
The home you are looking at
€11,321/m²Classic 2-bed penthouse with terrace in Recoletos, Salamanca
424 m² · 2 beds · 5 baths
3rd floor, lift
€14,081/m²4-bed classic penthouse with terrace in Recoletos, Salamanca
419 m² · 4 beds · 4 baths
Exterior
€17,406/m²2-bed penthouse with terrace in Recoletos, Salamanca
451 m² · 2 beds · 5 baths
1st floor, lift
Renovated 5-bed penthouse with terrace in Recoletos, Salamanca
465 m² · 5 beds · 5 baths
4th floor, lift
€17,053/m²6-bed penthouse with terrace in Recoletos, Salamanca
475 m² · 6 beds · 3 baths
Needs a full renovation
4-bed penthouse with terrace on Don Ramón de la Cruz in Recoletos, Salamanca
373 m² · 4 beds · 5 baths
7th floor, lift
€20,788/m²Spacious 4-bed penthouse with terrace in Recoletos, Salamanca
368 m² · 4 beds · 4 baths
Much like this one on the facts listed
€11,749/m²Stunning 4-bed penthouse with 60m² terrace in Recoletos, Salamanca
366 m² · 4 beds · 5 baths
Needs a full renovation · Exterior
The neighbourhood · Recoletos
Each card compares Recoletos with Madrid city. Green means up, red means down, blue means little change.
€95,137a year
Household income · Madrid €49,916
Official barrio
People
€15,713per m²
Madrid, homes we track: €11,000
Price trend
up 11.0%in a yearup 1.6%on the quarter
Official price index · all second-hand sales in the district
What homes here sold for
Homes for sale now
€38.7per m² a month
Madrid, homes we track: €29.7
Rents declared for tax
Homes to rent now
Asking rents of the homes we track. Declared rents come from tax returns and run about two years behind.
No grade for mortgage defaults or squatting (okupación), 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 permission
Okupas. Removing them goes through the courts and can take well over a year.
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.
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
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, 2024–2026. 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.
How we got these numbers
Every figure in this section: what it measures, where it comes from, and what we did to it.