Centro · Madrid
Rental yield in Cortes
Cortes is an expensive area for Madrid, with an average rental yield and a Total Return below the city average. Here is what a typical flat in Cortes costs to buy and rent, and the Total Return (IRR) it delivers, compared with Centro and the rest of Madrid.
Sale price
7,247
€/m² · second-hand homes
Rent
25.1
€/m² per month · market rate
Gross yield
4.2%
annual rent ÷ price
Total Return
9.4%
10-year IRR · typical flat
Appreciation
+5.9%
a year, 10-15 year history
Cash flow
-€437
per month, year 1, after tax
What the data says
Cortes is a neighbourhood in the Centro district of Madrid. The reference sale price is €7,247/m², based on the 2025 registry statistics (Madrid City Council): 51% above the Madrid median (€4,808/m²) and 1% above its district median (€7,199/m²). It ranks 23 of 130 neighbourhoods in Madrid by price and 3 of 6 within Centro.
The achievable market rent is around €25.1/m² per month (the neighbourhood's own figure; idealista asking rents adjusted to achievable rent): about €1,431 a month for a typical 57 m² flat, with no legal cap. The gross yield (annual rent ÷ price) comes to 4.2%, 0.5 points below the city median (4.7%): rank 78 of 130 by gross yield.
With a 70% mortgage at 3.80% over 25 years and a sale after 10 years, the estimated Total Return (IRR) for that typical flat is 9.4%, below the Madrid median (9.8%). It takes about €151,128 of cash (deposit, taxes and costs), and first-year cash flow after tax is -€437 a month.
Asking prices in the Centro district have grown by an average of 5.9% a year over the last 10 and 15 years (idealista, December 2025). Historical, not a forecast: it is the appreciation the modelled sale assumes.
A typical flat in Cortes
The same standard assumptions as the CasaROI map: change the mortgage, term or tax profile in your account and the Total Return is recalculated for your case.
- Size
- 57 m²
- Purchase price
- €413,079
- Monthly rent
- €1,431
- Cash needed · deposit + transfer tax + costs
- €151,128
- Monthly cash flow (year 1)
- -€437
- Total Return (IRR)
- 9.4%
Assumptions: 70% mortgage over 25 years at 3.80%, sale after 10 years, Spanish tax resident at a 37% marginal rate, no renovation.
Neighbourhoods in Centro, ranked by gross yield
| Area | €/m² | Rent €/m² | Gross | IRR |
|---|---|---|---|---|
| Embajadores | 6,045 | 24.6 | 4.9% | 10.5% |
| Universidad | 7,150 | 26.1 | 4.4% | 9.8% |
| Palacio | 6,955 | 24.4 | 4.2% | 9.5% |
| Cortes | 7,247 | 25.1 | 4.2% | 9.4% |
| Sol | 7,726 | 24.8 | 3.9% | 8.9% |
| Justicia | 9,544 | 28.0 | 3.5% | 8.4% |
Frequently asked questions
How much does a square metre cost in Cortes?
€7,247/m² on average, based on the 2025 registry statistics (Madrid City Council). A typical 57 m² flat costs about €413,079, 51% above the Madrid median.
How much is rent in Cortes?
Around €25.1/m² per month at market rates: €1,431 a month for a 57 m² flat, with no legal cap.
Is Cortes a good buy-to-let investment?
The gross yield is 4.2% (Madrid median: 4.7%). With a 70% mortgage and a sale after 10 years, the estimated Total Return (IRR) is 9.4% against a city median of 9.8%. It depends on your financing and tax residency: with your own profile the number can change.
Is Cortes in a stressed rental zone?
No. Madrid is not a declared stressed rental zone: rents are set by the market, with no legal cap.
Buying in Cortes?
Paste the listing and we tell you whether it holds up at that price: legal rent, taxes, red flags and a verdict.
Sources and method
- Sale: Estadística Registral · Ayuntamiento de Madrid (precio declarado, neighbourhood) · MITMA city anchor 4212 €/m² (2024)
- Rent: idealista · neighbourhood rent adjusted to achievable rent (×0,95)
- Appreciation: average of the 10- and 15-year rates of the area's asking price — historical, not a forecast