In Madrid they sell an apartment for 20.9 million euros. The question is not whether it is the most expensive in history, but what that means
He has earned the unofficial title “most expensive apartment in Madrid” and, although it is difficult to confirm it because in the luxury sector there are operations that never reach transcendence, it certainly has the potential to be so. To start with its price. The apartment that Property Partners announces in Jerónimos, in the heart of the capital, it costs a whopping 20.9 million euros. Beyond that figure, the home’s size (1,008 m2), display of luxuries and extras is striking. For example, it has no decoration. It has “works of art.” Not a typical main room, but a “social area” that covers about 200 m2. In any other advertisement that vocabulary might sound like an exaggeration. Not here. The most expensive apartment in all of Madrid? So suggests it Property Partners, which claims to have in its portfolio what is “considered” the “most expensive property in Madrid.” The same unofficial title has been recognized in recent days several economic means, premises and generalistsincluding Tele Madrid that refers to the luxurious apartment as “the most expensive in the history” of the city. In reality, it is very difficult to confirm whether this is the case or not because discretion prevails in the luxury market. Many operations are closed with hardly any publicity, almost with their backs to the market. Others don’t. Last year, without going any further, John Taylor, a French real estate company specializing in luxury, brokered the sale of a home that was valued at 20 million. The property in question was located near Retiro Park and measured about 1,100 m2. The 20.9 million flat announced by Property has been announced for several months, although the agency assures that “there are offer processes” underway and interested people who have already made several visits. Click on the image to go to the tweet. What is the housing like? Enormous. And that’s an understatement. According to the token Published by the real estate agency itself, the apartment has a constructed area of 1,008 m2, although it identifies 812 m2 as “housing area”. Seven bedrooms (five en suite), six bathrooms and three toilets are distributed throughout this vast space, as well as amenities such as a gym, wine cellar and large living rooms. A reporter from EPE was able to visit the apartment and says that one of the first things that catches your attention is a 200 m2 room named “social area”. Do we know more? Yes. And it points in the same direction: that of exclusive luxury. The house, located in Los Jerónimos, has five parking spaces and two storage rooms, terraces with views of the Botanical Garden and furniture in line with the profile of its market. Tele Madrid assures Its renovation alone cost two million, to which is added another for the furniture. As a finishing touch, it incorporates works of art. That the apartment (the agency dates it back to the 70s) is so spacious in the heart of the center is explained by its past: in reality it is made up of three independent homes that a former owner bought and mergedoccupying an entire floor. Why is it interesting? Because beyond how striking the price or the characteristics of the apartment are, the advertisement connects with a larger trend: the increase in price of the home. That the price per square meter has been rising for years (in Madrid and the rest of Spain) is nothing new. Idealistic sample that in the last year the m2 has skyrocketed by 14.8% in the capital, reaching a maximum of almost €5,900/m2, although there are certain areas where this value is much higher. In Retiro there are more than 7,800 and in Salamanca they are close to 10,000. The announcement of the Los Jerónimos apartment reminds us, however, that the price increase is not exclusive to the conventional residential market. It also affects luxury. At the end of 2025 Diza Market published a report which shows that the cost of prime housing in the region rose by 95% in a matter of a decade, between 2014 and 2025. The analysis focused, however, on the luxury sector in which houses worth several million are moved, without reaching stratospheric figures. Are there more indicators? Yes. Savills has published another report in which it points out that the price of prime housing in the capital “triples the rate of global growth expected for 2026.” “If we focus the analysis on the first consolidated, the average prices in Madrid are around €16,000-17,000/m2, reaching peaks of between €25,000 and €30,000/m2”, details Santiago de Miguel, director. “The forecast is that the market will continue slightly bullish, but with sustained demand. The international buyer continues to have his sights set on Madrid.” “The Madrid market super luxury has reached a degree of maturity that allows operations of this caliber,” agrees an interview with Five Days Felipe Reuse, from Property Partner. Data from the Notarial Statistical Portal show In fact, the dynamism of the market in the heart of Madrid, with the m2 above 11,000 m2, and where foreign buyers have a relevant weight, representing a third of the total. There are those who already points out that the demand is going outside the city, towards La Moraleja or La Finca. Image | Chris Curry (Unsplash) In Xataka | There is a Europe that is suffocating to pay for housing and another that lives in peace. And this map shows the differences
