€2,950 a month
Below the typical rent · See whyWhat the advert says
Is this rent fair?
We compared it with the 20 two-bedroom flats closest in size (130–150 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
€21.1 per m²
The middle of the 20 similar flats is €31 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 29 Sep 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
This listing€21.1/m²Excelente vivienda escasos pasos del Palacio Real
140 m² · 2 beds · 2 baths
The flat you are looking at
€28.6/m²2-bed apartment with lift in Huertas, Centro
140 m² · 2 beds · 3 baths
Ground floor
€37.5/m²2-bed apartment with lift in Chueca, Centro
140 m² · 2 beds · 3 baths
Ground floor
Renovated 2-bed apartment with natural light on Justicia in Chueca, Centro
140 m² · 2 beds · 2 baths
3rd floor
€44.3/m²Contemporary 2-bed apartment with lift in Centro
141 m² · 2 beds · 2 baths
Ground floor
€28.4/m²Bright 2-bed apartment with terrace in Huertas, Centro
141 m² · 2 beds · 2 baths
Ground floor
Bright 2-bed apartment in Gran Vía, Centro
139 m² · 2 beds · 2 baths
1st floor
€26.9/m²Renovated 2-bed apartment in Salesas, Centro
143 m² · 2 beds · 2 baths
Much like this one on the facts listed
2-bed penthouse with terrace on Gran Vía, Centro
137 m² · 2 beds · 2 baths
Has a terrace · 9th floor
€31.0/m²2-bed apartment with high ceilings in Centro
145 m² · 2 beds · 3 baths
4th floor
€32.0/m²Spacious 2-bed apartment with terrace in Malasana, Centro
133 m² · 2 beds · 2 baths
Ground floor
€32.0/m²Bright 2-bed apartment with terrace on Calle Marqués del Monasterio in Salesas, Centro
131 m² · 2 beds · 2 baths
1st floor
€26.9/m²2-bed apartment with lift in Palacio, Centro
130 m² · 2 beds · 2 baths
Ground floor
€24.7/m²Renovated 2-bed apartment with lift in Centro
150 m² · 2 beds
Includes a garage space
€11.3/m²2-bed penthouse with lift in Centro
150 m² · 2 beds
Includes a garage space · 6th floor, lift
€22.0/m²Bright 2-bed apartment with terrace in Centro
150 m² · 2 beds · 3 baths
Has a terrace · Ground floor
€43.3/m²Elegant 2-bed penthouse with terrace in Centro
150 m² · 2 beds
Has a terrace · Includes a garage space
€33.5/m²Piso en Madrid, Centro - Justicia, alquiler
130 m² · 2 beds
Has a terrace · Includes a garage space
2-bed penthouse with terrace in Malasana, Centro
130 m² · 2 beds · 2 baths
Has a terrace · 5th floor
€38.5/m²Espectacular de techos altos y ubicado en la mejor calle del barrio de Justicia
130 m² · 2 beds · 2 baths
Much like this one on the facts listed
€23.8/m²Spacious 2-bed apartment with natural light in Centro
130 m² · 2 beds · 2 baths
2nd floor
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
€9,766per m²
Madrid, homes we track: €11,163
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.