€3,700 a month
Above the typical rent · See whyWhat the advert says
Is this rent fair?
We compared it with the 10 two-bedroom flats closest in size (57–101 m²) advertised to rent long-term in Retiro. Typical means inside the middle half of their rents. Asking rents, not signed leases, and not a fair-rent calculation.
Per m², against the same flats
€46.3 per m²
The middle of the 10 similar flats is €39 per m² a month.
What tenants pay on existing leases (2024)
€17.8 per m²
Ibiza, our estimate, per m² a month, from tax returns. Leases signed over past years run lower than asking rents today, so this is context, not a verdict on this flat.
Flats behind this read · Retiro
The ten flats closest in size, with the rents their agencies ask.
Asking rents, not signed leases · sorted by closest in size
This listing€46.3/m²2-bed apartment with lift in Ibiza, Retiro
80 m² · 2 beds · 2 baths
The flat you are looking at
€23.4/m²Bright 2-bed apartment with terrace in Retiro
77 m² · 2 beds · 2 baths
Has a terrace
€38.8/m²Bright 2-bed apartment with terrace in Retiro
76 m² · 2 beds · 2 baths
Has a terrace · Includes a garage space
€35.7/m²Piso en alquiler en Calle Narváez
70 m² · 2 beds · 2 baths
New or fully renovated · 4th floor, lift
€28.5/m²Modern 2-bed apartment with terrace on Avenida Menéndez Pelayo in Menéndez Pelayo, Retiro
70 m² · 2 beds · 1 bath
Ground floor
€40.8/m²Modern 2-bed apartment with terrace in Retiro
65 m² · 2 beds · 2 baths
Has a terrace · Includes a garage space
€38.5/m²Modern 2-bed apartment with terrace in Retiro
65 m² · 2 beds · 2 baths
Has a terrace
€43.4/m²Renovated 2-bed apartment with lift in Retiro
61 m² · 2 beds · 2 baths
New or fully renovated
€39.6/m²2-bed apartment with terrace on Calle Doctor Castelo in Ibiza, Retiro
101 m² · 2 beds · 3 baths
Has a terrace · 3rd floor
€34.5/m²2-bed apartment with lift in Ibiza, Retiro
58 m² · 2 beds · 1 bath
Much like this one on the facts listed
€38.6/m²New 2-bed apartment with lift in Jerónimos, Retiro
57 m² · 2 beds · 1 bath
New or fully renovated · 2nd floor, lift
The neighbourhood · Retiro
This flat is in Ibiza, a barrio (neighbourhood) of the Retiro 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.
€64,787a year
Household income · Madrid €49,916
Official district
People
€11,972per m²
Madrid, homes we track: €11,161
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 for sale now
€30.6per m² a month
Madrid, homes we track: €30.7
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 Retiro 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.
It tells you what similar flats ask and what to check before you sign. The verified agent can tell you the rest.
An independent agent Frankly has verified, who acts for the people renting or buying, never for landlords or sellers. 30 minutes, free, no obligation.
How we got these numbers
Every figure in this section: what it measures, where it comes from, and what we did to it.
Attribution
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 rents 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 rents 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 district.
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
Origen de los datos: Ayuntamiento de Madrid. Licence CC BY 4.0.
Listing rents belong to the agencies that publish them. Frankly does not verify them.