Chamberí in detail

In this article, Nieves Archilla takes you on a tour of its shops, monuments and most traditional corners.

Chamberí is one of Madrid's most emblematic districts, where aristocratic architecture coexists with a vibrant cultural and gastronomic scene.

Chamberí, one of the most sought-after districts in Madrid 

Chamberí is one of the oldest and most emblematic districts of Madrid and has undergone a great transformation over the years, maintaining its aristocratic past and combining it with modern gastronomic, cultural and artistic offerings. For this reason Chamberí, despite being the smallest district in Madrid, has become one of the favourite areas for both property investment and weekend plans. It is ideal for those who are looking for a mix of tradition and modernity in a quiet atmosphere, despite being right in the centre.

Iconic areas such as Fuencarral, Ponzano, Plaza de Olavide and Santa Engracia are now epicentres of independent shops, trendy restaurants, theatres, cinemas... Chamberí always has something new to offer!

Chamberí is made up of six neighbourhoods: Almagro, Ríos Rosas, Gaztambide, Arapiles, Trafalgar and Vallehermoso.  

Where does this aristocratic air come from? From the 19th century, when it really became a prosperous place, the residence of Madrid's high society and aristocracy. A period of splendour that is reflected in the eclectic architecture of the elegant mansions and palaces that still remain, modernist, neo-Gothic and neo-Mudejar buildings. In some cases, they are now the headquarters of important embassies, universities or public administration bodies.

And where is its traditional touch? In traditional taverns, which you can still find, with the characteristic blue and white tiles and steel bars where you can have a few beers or vermouth.

What is the real estate market like in Chamberí?

In terms of real estate, Chamberí is a booming district. According to the most recent data, The price of housing in Chamberí has experienced a notable increase in recent years. The average sale price, according to Idealista, stands at 6,977 €/m2, marking a record high last September, with a year-on-year increase of 15.3%. Rental demand remains high due to its proximity to universities and its excellent connection to the rest of Madrid.

The neighbourhoods of Almagro and Ríos Rosas are particularly coveted for their historic buildings and stately mansions, making them areas of high demand for luxury homes or investors looking for homes with high appreciation potential. Recently sold properties include refurbished flats in Almagro, which easily sell for over one million euros, and flats in Rios Rosas ranging from 600,000 to 900,000 euros. 

If we are looking for more affordable properties we have to focus on neighbourhoods such as Gaztambide or Vallehermoso.

"Living in Chamberí means enjoying a quiet life in an environment full of history and culture, without giving up the advantages of living in the centre of Madrid".

Chamberí, neighbourhood by neighbourhood

Almagro

Almagro is one of the most exclusive neighbourhoods in the capital, where the average price exceeds €8,000/m2 according to Idealista, with properties of high historical and architectural value. Historically known as the Golden Triangle, today Almagro is a sort of extension of the Salamanca neighbourhood, where property prices have reached the level of such top areas as Castellana or Lista, and closer than ever to the coveted Recoletos neighbourhood. 

The buyer profile in Almagro is mainly high net worth, looking for elegant, often refurbished, residences with protected architectural elements. Here, properties can sell for more than 1.5 million euros for a penthouse or detached house, rising to more than 10 million euros for some of the more exclusive properties.

The presence of monuments of national interest in Almagro increases the value of the adjoining properties, being highly sought after areas due to their exclusivity and prestige. Some of these monuments are:

• The Beti-Jai Fronton ("always happy" in Basque), a historic monument in eclectic style, declared an Asset of Cultural Interest.
• The Sorolla Museum, a bourgeois palace from the beginning of the 20th century, former residence of the painter Joaquín Sorolla and a must for art lovers. 
• The Casa Garay, current headquarters of the Colegio Oficial de Ingenieros de Caminos, Canales y Puertos. A neo-Romanesque building designed in 1914 by Manuel María Smith e Ibarra.
• The Palace of the Marquises of Bermejillo del Rey, the current seat of the Ombudsman, is another of the Neo-Plateresque buildings that represent the splendour of Almagro's past.
• The Palacete de Eduardo Adcoch, built at the beginning of the 20th century by the architect José López Sallaberry.

Chamberí's food markets and florists' shops 

Chamberí has also rescued its traditional markets, giving them new life. The Chamberí Market is a clear example of this, with its space La ChisperíaThe ideal place to enjoy the most traditional gastronomy of Madrid. 

Also, if you want to give your home a special touch, there is nothing like visiting TocaMadera Designwhere they have very original furniture and decorative elements (you can also hire an interior design project from their founders) or visit these wonderful flower shops: Botanyco (the owners, Jessica and Victor, created a vintage aesthetic that gives the space an almost magical feel); Alfabia Flores (active since 1996 and directed by Elvira González de Aguilar) or Casaflorida (which has been selling flower centres, decorating for events and giving courses since 1988).

Rios Rosas

If we continue north, in Ríos Rosas we find important architectural works such as the Hospital de Maudes, built to care for Madrid's workers, and the Escuela Técnica Superior de Ingenieros de Minas, a building designed by the architect Velázquez Bosco at the end of the 19th century that adds a majestic touch to the neighbourhood.

Regarding the real estate market, prices in Ríos Rosas are somewhat more affordable than in Almagro, with an average price of 7,000 €/m2 according to Idealista, closely following its big brother, Almagro. It is a neighbourhood in high demand by families and young professionals with high purchasing power, who are looking for good transport connections and a quiet environment.

Properties sold in Ríos Rosas in the last year have reached between 600,000 and 900,000 euros, depending on the condition of the property and its exact location. Rehabilitations of historic buildings have also generated renewed interest in Ríos Rosas, which is steadily boosting prices.

Among the most outstanding cultural proposals are the Sala Canal de Isabel II, a former water reservoir built at the beginning of the 20th century and transformed into a space for photography exhibitions and the Geominero Museum, an ideal space for geology and natural history lovers with an impressive imperial staircase and columns that support a glass vault, creating a unique atmosphere. 

If you have an important celebration, the restaurant Mo of Movement is a place not to be missed. Created in the space of the old Espronceda Theatre, this sustainable project combines social inclusion with local gastronomy. It stands out for its large covered terrace and its vaulted pizza ovens. And a curious fact: the jars hanging from the ceiling are not only a decorative element, but also help to maintain the pleasant temperature of the place.

Trafalgar and the #ponzaning

The Trafalgar neighbourhood is one of the liveliest spots in Chamberí, with Plaza de Olavide as the epicentre and meeting point par excellence. Especially after its recent renovation, which has opted for a greater pedestrianisation of the area, further improving its attractiveness for terraces. 

In terms of real estate prices, Trafalgar offers a mix of properties, from refurbished flats in historic buildings to more modern homes. According to Idealista, average prices have exceeded €7,000/m2, although this can vary considerably depending on the exact location and type of property.

The constant renovation, especially in the areas adjacent to Plaza de Olavide, has led to a high demand from both private buyers and investors, which has led to a consequent rise in prices. It is common for interested buyers in this area to look for already refurbished flats for residential use or for investment in temporary or tourist rental, with a minimum yield between 4 and 5%.

The iconic Ponzano street is known for the #ponzaning phenomenon (the only one with its own hashtag and more than 20,000 posts on Instagram), where locals and tourists mingle to enjoy the trendiest bars and restaurants. A highlight is the Cutting rooma small bar that imitates the aesthetics of a butcher's shop and surprises with its presentation. 

Other places not to be missed are The Doublea classic place to have a well-drawn beer (or a vermouth); The Flower Shopwhere its neon lights and plants create a unique atmosphere for enjoying signature cocktails; or MarabuA place for tapas, food, beer... with a dance floor and a clandestine cabaret-style concert hall.   

But Madrileños don't live by beer alone... so head to the bookshop-cafeteria Olavide Book Bar to have a coffee while you read any of the books they have for sale; at the Santolaya Watches who have been restoring antique and vintage clocks for six generations; or Facta design objects shop behind the Plaza de Olavide, set up by a group of friends who are architects and designers.

Fuencarral Street

Another great hub of activity! With very wide pavements and pedestrianised every Sunday, you'll find shops of all kinds, cinemas, theatres... In Chamberí, cinemas have fared better than other legendary cinemas and theatres on Gran Vía, in the Centro district. You have the Proyecciones cinema (in an art deco building from 1932), the Cines Verdi, Cines Paz, Luxury Palafox. The Teatros del Canal, the Luchana or the Abadía.

Arapiles, Gaztambide and Vallehermoso

To the west of Chamberí, the neighbourhoods of Arapiles, Gaztambide and Vallehermoso have a personality of their own, with a strong university presence thanks to their proximity to the University City and various academic institutions such as the Complutense University, the UNED and the Polytechnic University of Madrid.

Here, the real estate market is dominated by rentals due to the large presence of students and young professionals who are attracted by the proximity to universities.

According to Idealista, the average price in these neighbourhoods is somewhat more affordable, with an average of around €6,000/m2, making them a more interesting option for investors looking for rental returns. 

A highlight is the leisure and cultural offer. The Vallehermoso neighbourhood is seeing an increase in building refurbishment, which has generated renewed interest in this traditionally more residential neighbourhood.

As far as architectural curiosities are concerned, the Palacete de la Mexico House and the Casa de las Flores, by the architect Secundino Zuazo, stand out among the historic buildings in the area. 

If you are a lover of cinema and television, in the Plaza del Conde Valle de Suchil you can see a replica of the famous red telephone booth from Antonio Mercero's film "La cabina", starring José Luis López Vázquez.

Do you like live music? The legendary Clamores and Galileo Galilei venues are essential for enjoying concerts in a friendly and welcoming atmosphere.

Some of Chamberí's most traditional shops

The traditional shops continue to mark the character of Chamberí, such as the Salon de FleursThe Alice in Wonderland-inspired multi-space combines a flower shop, tea room and boutique. Another reference is Canteranoa decoration shop that has been organising courses and workshops for local residents since 1984. 

If you are looking for something more artisanal, The Texture Factory is the place for you. Here you can learn printing and screen printing techniques in a very creative environment. Wonderful.

It is incredible to find so many contrasts and so much life in the same district. That is Chamberí. Sophisticated, traditional, traditional, modern, artistic, creative, cultural... A neighbourhood that continues to be a neighbourhood, and that continues to transform itself so that living here is your refuge, your adventure, your plan with friends... Your history.

Chamberí is a district full of life, combining the tranquillity of a residential neighbourhood with the vitality of its cultural, commercial and gastronomic offer. In this article we have covered its streets, historic buildings, shops and monuments, but we have also highlighted the real estate opportunities it offers.