Idealista: Madrid homes at €6,458 per square metre, southern districts rise fastest

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Idealista's monthly index, built from the asking prices in its own sale listings, puts Madrid at 6,458 euros per square metre in September. That is 0.2% less than in August, 1.8% below June and 2.4% under April's record of 6,619 euros, but still 2.4% more than a year ago. The national average is 2,930 euros, less than half the capital's figure, though it rose 11.8% over the year.

The expensive end of the city is mostly holding still. Salamanca remains the priciest district at 10,865 euros, down 1.2% on the year, followed by Chamberí (9,159), Retiro (8,515), Chamartín (8,127) and Centro (7,771). Retiro slipped 0.7%, while Chamartín, Centro and Chamberí gained between 2.6% and 4.6%.

The movement is in the south, where prices start lower and are climbing faster. Villaverde, the cheapest district at 3,365 euros, rose 23.7% in a year, ahead of Puente de Vallecas (17.9%), Usera (15.9%), Villa de Vallecas (12.0%), Moratalaz (11.3%) and Vicálvaro (10.5%). Five districts set all-time highs in September: San Blas (4,146), Latina (4,045), Usera (3,628), Puente de Vallecas (3,535) and Villaverde. Salamanca still costs more than three times as much as Villaverde, a gap that a 23.7% annual rise narrows only slowly.