Frankly.
Photo of Renovated 2-bed apartment with lift in Retiro

€1,375,000

Within our fair value · Learn why

Renovated 2-bed apartment with lift in Retiro

Retiro
View the listing on Barnes Madrid (opens in a new tab)
Bedrooms
2
Bathrooms
3
Built area
117 m²

Is this price fair

Priced within the range similar homes suggest.

Asking is €1,375,000, within the range similar homes nearby suggest. The range itself, and what it means for you, 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 Retiro →

Listings that informed this estimate · Retiro

The homes we compared it with.

We compared it with 93 homes on sale in Retiro, each of 96–140 m². The middle half of them, priced at this flat’s 117 m², gives the fair range above. These are the eight closest in size.

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

Renovated 2-bed apartment with lift in RetiroThis listing€11,752/m²

Renovated 2-bed apartment with lift in Retiro

117 m² · 2 beds · 3 baths

€1,375,00013% over

The home you are looking at

3-bed apartment with terrace in Ibiza, Retiro€8,077/m²

3-bed apartment with terrace in Ibiza, Retiro

117 m² · 3 beds · 2 baths

€945,00022% under

Needs a full renovation · Exterior

2-bed apartment with terrace in Ibiza, Retiro€11,838/m²

2-bed apartment with terrace in Ibiza, Retiro

117 m² · 2 beds · 2 baths

€1,385,00014% over

Exterior · Has a terrace

3-bed apartment with terrace in Retiro€11,371/m²

3-bed apartment with terrace in Retiro

116 m² · 3 beds · 3 baths

€1,319,0009% over

Interior-facing · Has a terrace

Bright 3-bed apartment with terrace in Retiro€9,322/m²

Bright 3-bed apartment with terrace in Retiro

118 m² · 3 beds · 2 baths

€1,100,00010% under

Has a terrace · Includes a garage space

Renovated 2-bed apartment on Jerónimos in Jerónimos, Retiro€8,078/m²

Renovated 2-bed apartment on Jerónimos in Jerónimos, Retiro

115 m² · 2 beds · 2 baths

€929,00022% under

6th floor

Spacious 4-bed apartment with lift in Ibiza, Retiro€11,991/m²

Spacious 4-bed apartment with lift in Ibiza, Retiro

115 m² · 4 beds · 3 baths

€1,379,00015% over

Ground floor

Bright 2-bed apartment with lift in Retiro€8,391/m²

Bright 2-bed apartment with lift in Retiro

115 m² · 2 beds · 2 baths

€965,00019% under

Exterior · Includes a garage space

Bright 3-bed apartment with lift in Retiro€12,840/m²

Bright 3-bed apartment with lift in Retiro

115 m² · 3 beds · 2 baths

€1,476,60024% over

Exterior · 7th floor, lift

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

Retiro, from official records. Only the 2025 rent point is our estimate; every other line is published data. A ring marks where this home’s asking price sits.

This price against Retiro’s history

€11,752per m², this home’s asking price

Retiro’s registered sales averaged €7,476 per m² in 2025, about €10,000 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.

2025Retiro€7,476Madrid€5,334This home, asking€11,752

This price against Retiro’s history
YearRetiroMadrid
TodayThis home, asking €11,752
2025€7,476€5,334
2024€6,275€4,544
2023€5,505€4,077
2022€5,301€3,966
2021€4,817€3,649
2020€4,758€3,572
2019€4,940€3,473
2018€4,458€3,387
2017€3,840€2,945
2016€3,256€2,638
2015€3,173€2,461
2014€3,017€2,406
2013€2,986€2,383
2012€3,290€2,631
2011€3,662€3,133
2010€3,921€3,301
2009€3,904€3,288
2008€4,235€3,687
2007€4,357€3,860

Gross yield on long-term rents, over time

3.1%gross yield in Retiro, 2024

down 1.4 pointssince 2013

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

2024Retiro3.1%Madrid3.7%

Gross yield on long-term rents, over time
YearRetiroMadrid
20243.1%3.7%
20233.3%3.9%
20223.3%3.9%
20213.5%4.0%
20203.5%4.1%
20193.3%4.1%
20183.4%3.8%
20173.7%4.2%
20164.2%4.6%
20154.2%4.8%
20144.4%4.9%
20134.5%5.0%
20124.3%4.8%
20113.9%4.2%

Homes sold each year in Retiro

1,364homes sold in 2025

up 11.0%in a year

Registered sales, second-hand and new. 11 of them were new-build. Retiro is 3.5% of Madrid’s sales.

2025Homes sold1,364Share of Madrid3.5%

Homes sold each year in Retiro
YearSoldOf Madrid
20251,3643.5%
20241,2293.3%
20231,0563.0%
20221,5393.8%
20211,2723.6%
20207763.1%
20191,1723.4%
20181,2983.4%
20171,4183.6%
20161,2554.0%
20151,0063.7%
20149604.3%
20137723.8%
20127453.7%
20118994.0%
20101,0914.1%
20099134.2%
20088453.0%
20071,1172.8%

What tenants pay on existing leases in Retiro

€16.04per m² a month

up 5.0%in a year

Median rent on all leases declared in 2024, flats only. It moves slower than asking rents. The shaded band holds the middle half of leases. The dotted end is our estimate for 2025, not a published figure.

2024Retiro€16.04Middle half€13.16–€19.76Madrid€13.972025 · our estimate

What tenants pay on existing leases in RetiroWhat tenants pay on existing leases in Retiro. Retiro: median, with the middle half of leases beneath
YearRetiroMiddle halfMadrid
2025 · our estimate€16.72€16.25–€17.92—€14.41€14.00–€15.44
2024€16.04€13.16–€19.76€13.16–€19.76€13.97
2023€15.28€12.63–€18.55€12.63–€18.55€13.30
2022€14.58€12.14–€17.65€12.14–€17.65€12.77
2021€14.10€11.63–€17.07€11.63–€17.07€12.31
2020€13.95€11.37–€17.07€11.37–€17.07€12.12
2019€13.67€11.12–€16.74€11.12–€16.74€11.86
2018€12.45€9.97–€15.38€9.97–€15.38€10.83
2017€11.79€9.50–€14.39€9.50–€14.39€10.36
2016€11.44€9.22–€13.86€9.22–€13.86€10.03
2015€11.11€8.87–€13.54€8.87–€13.54€9.85
2014€10.94€8.55–€13.44€8.55–€13.44€9.80
2013€11.15€8.56–€13.83€8.56–€13.83€10.00
2012€11.70€9.01–€14.38€9.01–€14.38€10.58
2011€11.77€9.01–€14.62€9.01–€14.62€10.84

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.

BuyersRetiro district

Who buys in Retiro: 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 · Retiro

Retiro: 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

€64,787household income a yeara year

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

Official district

People

Population
down 1.3% in a year
118,863
Average age
Madrid 44.2
47.6
Aged 65 or over
Madrid 20.7%
27.8%
Registered unemployment
Madrid 5.8%
4.2%
Years of income to buy
average-size home (94 m²) ÷ household income · Madrid 9.7
11.8 years

SaleRetiro · askingasking

€11,891per m²

Madrid, homes we track: €11,049

Price trend

up 8.3%in a yearup 4.7%on the quarter

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

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
€10,000/m²
Asking vs sold
Homes we track ask about 19% more than recorded sales in the same barrios.about 19% more, same barrios
+19%

Homes for sale now

Priced below our fair value
of 385 homes we can read
32%
Typical time advertised
since we first saw each one
113 days
Have cut their price
54 of 466
12%
Homes for sale in Retiro

RentRetiro · askingasking

€31.5per m² a month

Madrid, homes we track: €30.7

What tenants pay on existing leases

In 2024
up 3.9% that year
€16.0 per m²

Homes to rent now

To rent now
homes we track
108
Typical asking rent
half ask less, half more
€3,800 a month
Typical time listed
since we first saw each one
134 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 Retiro

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

1948the year it was builtas the listing states
—with a liftnot stated in the listing

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 117 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 parts of this district.

    Partly restricted

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.

€1,375,000Within fair value