43 m² one-bedroom flat plus 12 m² terrace listed at €350K plus VAT in Madrid
We look at the madness of Madrid's property prices: 43 m² flats for €350K and the debate over whether this is a new bubble or a change of era.
English · Original discussion in Spanish · Published
Madrid's property market has lost its mind
Would you pay 350,000 euros for 43 square metres of usable space? The latest madness on Idealista has set off alarms on the forum, where a one-bedroom flat in Madrid is selling at mansion prices, while other users report 80-square-metre homes in working-class neighbourhoods going for 140 million pesetas. This is not just another 2008 — it is a suffocating supply crisis.
Why there won't be a property crash
While some forum members expect a crash like the one fifteen years ago, most agree that the situation is different this time. The lack of construction since 2008, combined with constant demographic pressure, has created a bottleneck. Unlike the previous crisis, the average buyer is not weighed down by excess bank debt; there is simply less supply and a demand that, driven by inheritance or foreign capital, keeps pushing prices up.
The devaluation of work versus bricks and mortar
The debate inevitably turns to the loss of purchasing power. For many, the problem is not just the price of flats, but that the euro has stopped being a savings currency and become a tool of impoverishment. The general feeling is that the average 30-year-old has become a foreigner in their own country, unable to compete against a market that prioritises capital over basic access to housing.
Is this the ceiling of the market, or simply the start of a new era in which housing is an unattainable asset for the average worker? The forum has yet to reach a consensus, but the outrage over prices in Legazpi or Las Rozas is unanimous.
Related discussions on the forum
Would you pay 350,000 euros for 43 square metres of usable space? The latest madness on Idealista has set off alarms on the forum, where a one-bedroom flat in Madrid is selling at mansion prices, while other users report 80-square-metre homes in working-class neighbourhoods going for 140 million pesetas. This is not just another 2008 — it is a suffocating supply crisis.
Why there won't be a property crash
While some forum members expect a crash like the one fifteen years ago, most agree that the situation is different this time. The lack of construction since 2008, combined with constant demographic pressure, has created a bottleneck. Unlike the previous crisis, the average buyer is not weighed down by excess bank debt; there is simply less supply and a demand that, driven by inheritance or foreign capital, keeps pushing prices up.
The devaluation of work versus bricks and mortar
The debate inevitably turns to the loss of purchasing power. For many, the problem is not just the price of flats, but that the euro has stopped being a savings currency and become a tool of impoverishment. The general feeling is that the average 30-year-old has become a foreigner in their own country, unable to compete against a market that prioritises capital over basic access to housing.
Is this the ceiling of the market, or simply the start of a new era in which housing is an unattainable asset for the average worker? The forum has yet to reach a consensus, but the outrage over prices in Legazpi or Las Rozas is unanimous.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (61 replies).
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