€5,400 a month
A typical rent · See whyWhat the advert says
Is this rent fair?
We compared it with the 18 three-bedroom flats closest in size (169–270 m²) advertised to rent long-term in Centro. 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
€22.5 per m²
The middle of the 18 similar flats is €23 per m² a month.
What tenants pay on existing leases (2024)
€17.1 per m²
Palacio, 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.
No change to the asking rent since we first saw it on 5 Oct 2026.
Flats behind this read · Centro
The 18 flats closest in size, with the rents their agencies ask.
Asking rents, not signed leases · sorted by closest in size
This listingTypicalAlquiler en casa Palacio con billar
240 m² · 3 beds · 3 baths
€22.5/m² per square metre a month
The flat you are looking at
Above typicalSpacious 3-bed apartment with natural light on Calle Reina in Gran Vía, Centro
240 m² · 3 beds · 3 baths
€31.2/m² per square metre a month
Much like this one on the facts listed
Above typicalPiso en alquiler en Barquillo
244 m² · 3 beds · 3 baths
€43.6/m² per square metre a month
New or fully renovated · Ground floor
Above typical3-bed apartment with 220 m² terrace in Centro
245 m² · 3 beds
€40.8/m² per square metre a month
Includes a garage space
TypicalSpacious 3-bed penthouse with terrace in Justicia, Centro
230 m² · 3 beds · 3 baths
€23.9/m² per square metre a month
New or fully renovated · Has a terrace
TypicalBright 3-bed apartment with lift in Chueca, Centro
220 m² · 3 beds · 4 baths
€22.7/m² per square metre a month
2nd floor
Below typicalNew 3-bed penthouse in Centro
220 m² · 3 beds
€15.5/m² per square metre a month
New or fully renovated
TypicalAlquiler en Casa Palacio con Piano
260 m² · 3 beds · 2 baths
€20.8/m² per square metre a month
Much like this one on the facts listed
Typical3-bed apartment in Centro
270 m² · 3 beds
€13.0/m² per square metre a month
Much like this one on the facts listed
Above typical3-bed apartment with lift in Chueca, Centro
270 m² · 3 beds · 4 baths
€55.6/m² per square metre a month
New or fully renovated · Ground floor
Below typicalSpacious 3-bed apartment with lift in Palacio, Centro
205 m² · 3 beds · 2 baths
€12.2/m² per square metre a month
Much like this one on the facts listed
Below typicalNew 3-bed villa in Centro
200 m² · 3 beds
€14.5/m² per square metre a month
New or fully renovated
TypicalNew 3-bed apartment with lift in Cortes, Centro
185 m² · 3 beds
€18.6/m² per square metre a month
New or fully renovated
Typical3-bed penthouse with terrace on Santa Cruz de Marcenado in Malasana, Centro
184 m² · 3 beds · 3 baths
€24.4/m² per square metre a month
Has a terrace · 5th floor
TypicalBright 3-bed apartment with terrace in Justicia, Centro
180 m² · 3 beds · 1 bath
€27.8/m² per square metre a month
2nd floor
Typical3-bed apartment with terrace in Centro
176 m² · 3 beds · 2 baths
€22.7/m² per square metre a month
New or fully renovated · Has a terrace
Below typical3-bed apartment with lift in Centro
173 m² · 3 beds
€10.1/m² per square metre a month
Much like this one on the facts listed
Typical3-bed apartment with terrace in Centro
171 m² · 3 beds · 2 baths
€22.2/m² per square metre a month
Much like this one on the facts listed
TypicalLarge 3-bed apartment with terrace in Justicia, Centro
169 m² · 3 beds · 3 baths
€20.7/m² per square metre a month
Much like this one on the facts listed
The neighbourhood · Centro
This flat is in Palacio, a barrio (neighbourhood) of the Centro 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.
€44,958a year
Household income · Madrid €49,916
Official district
People
€9,744per m²
Madrid, homes we track: €10,973
Price trend
up 3.4%in a yeardown 1.9%on the quarter
Official price index · all second-hand sales in the district
What homes here sold for
Homes for sale now
€31.0per m² a month
Madrid, homes we track: €30.5
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 Centro 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.