€7,000 a month
Above the typical rent · See whyWhat the advert says
Is this rent fair?
We compared it with the 20 three-bedroom flats closest in size (119–155 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
€51.9 per m²
The middle of the 20 similar flats is €29 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 1 Oct 2026.
Flats behind this read · Centro
The 20 flats closest in size, with the rents their agencies ask.
Asking rents, not signed leases · sorted by closest in size
Paseo de la Castellana, exclusivo ático dúplex con terraza panorámica en el Paseo de la Castellana
135 m² · 3 beds
The flat you are looking at
€30.3/m²Spacious 3-bed apartment with natural light on Gran Vía in Gran Vía, Centro
135 m² · 3 beds · 2 baths
3rd floor
€18.7/m²Spacious 3-bed apartment with natural light in Malasana, Centro
134 m² · 3 beds · 2 baths
Much like this one on the facts listed
Renovated 3-bed apartment in Centro
138 m² · 3 beds · 3 baths
Ground floor
€28.3/m²3-bed penthouse with terrace in Salesas, Centro
138 m² · 3 beds · 2 baths
Includes a garage space
€40.7/m²3-bed penthouse with terrace in Centro
140 m² · 3 beds
Includes a garage space
€23.5/m²3-bed penthouse with lift in Palacio, Centro
130 m² · 3 beds · 3 baths
Ground floor
€30.4/m²3-bed apartment with lift in Centro
140 m² · 3 beds · 3 baths
4th floor
€43.4/m²Spacious 3-bed apartment with lift in Chueca, Centro
129 m² · 3 beds · 2 baths
Ground floor
€23.3/m²Piso en Madrid, Centro - Lavapiés - Embajadores, alquiler
129 m² · 3 beds
Includes a garage space
€27.1/m²Piso en Madrid, Centro - Lavapiés - Embajadores, alquiler
129 m² · 3 beds
Includes a garage space
€27.1/m²Piso en Madrid, Centro - Lavapiés - Embajadores, alquiler
129 m² · 3 beds
Includes a garage space
€27.1/m²Piso en Madrid, Centro - Lavapiés - Embajadores, alquiler
129 m² · 3 beds
Includes a garage space
€23.3/m²Piso en Madrid, Centro - Lavapiés - Embajadores, alquiler
129 m² · 3 beds
Includes a garage space
€24.4/m²3-bed apartment with terrace on TRAVESIA DE CONDE DUQUE in Malasana, Centro
143 m² · 3 beds · 3 baths
Includes a garage space · 5th floor
€23.8/m²3-bed apartment with terrace in Centro
147 m² · 3 beds · 2 baths
4th floor
€36.8/m²3-bed duplex with terrace on calle Infantas in Chueca, Centro
122 m² · 3 beds · 2 baths
5th floor
€29.2/m²Modern 3-bed penthouse with lift in Centro
120 m² · 3 beds
Includes a garage space · 4th floor, lift
€33.6/m²3-bed apartment with terrace in Centro
119 m² · 3 beds · 2 baths
2nd floor, lift
€29.4/m²3-bed apartment with terrace on Calle Justiniano in Salesas, Centro
153 m² · 3 beds · 2 baths
2nd floor
€36.5/m²Piso en Madrid, Centro - Justicia, alquiler
155 m² · 3 beds
Includes a garage space
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
€9,568per m²
Madrid, homes we track: €10,970
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
€31.1per m² a month
Madrid, homes we track: €30.6
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.