In recent years, the remodeling of the Santiago Bernabéu stadium has been one of the most ambitious and anticipated projects in terms of architecture and sports in Madrid. This event has not only revolutionized the football environment and sports-related infrastructure, but has also left a significant mark on the surrounding real estate market.
Before the works began, the prices of apartments in the Chamartín neighborhood, where the stadium is located, were already considerably high due to its central location and the numerous amenities it offers. However, with the renovation of the Bernabéu, there has been an upward trend in property prices nearby.
Real estate agents and sector experts agree that the modernization of the stadium has turned the area into a focal point of attraction not only for football fans, but also for investors and residents seeking a high quality of life. According to recent data, apartment prices near the Bernabéu have increased by an average of 15% since the remodeling works began in 2019. This increase has accelerated in recent months as infrastructure improvements have become more visible.
A report from the consulting firm Knight Frank reveals that the average price of an apartment in the vicinity of the stadium has gone from 6,000 euros per square meter in 2018 to approximately 7,500 euros per square meter in 2023. Some luxury properties have even reached 10,000 euros per square meter, especially those offering direct views of the renovated Bernabéu and its improved surroundings.
The new Bernabéu has not only brought about an architectural renovation, but also a series of additional facilities that have boosted the area’s appeal. Among these are high-end shops, restaurants, recreational areas, and improved green spaces. All of this has contributed to increasing the value of properties, as buyers appreciate the convenience and access to these services.
The community residents are divided on the repercussions of this price increase. On one hand, some property owners celebrate the appreciation of their properties as a lucrative opportunity. On the other hand, there is concern among local tenants and potential buyers who fear that the area may become inaccessible to the middle class due to the rising cost of housing.
The City Council of Madrid has also been involved, promoting urban and transportation projects to support the influx of new residents and visitors. These public initiatives aim to balance the development of the area with the needs of the community, emphasizing sustainability and social welfare.
In summary, the remodeling of the Santiago Bernabéu stadium has had a profound impact on the local real estate market, causing a significant increase in the prices of nearby properties. The Bernabéu area not only stands as a sports epicenter, but also as a coveted residential enclave that continues to attract buyers and real estate developers from all corners.
Referrer: MiMub in Spanish