Salamanca · Madrid
Rental yield in Goya
Goya is an expensive area for Madrid, with a low rental yield and a Total Return below the city average. Here is what a typical flat in Goya costs to buy and rent, and the Total Return (IRR) it delivers, compared with Salamanca and the rest of Madrid.
Sale price
9,634
€/m² · second-hand homes
Rent
27.8
€/m² per month · market rate
Gross yield
3.5%
annual rent ÷ price
Total Return
9.1%
10-year IRR · typical flat
Appreciation
+6.5%
a year, 10-15 year history
Cash flow
-€967
per month, year 1, after tax
What the data says
Goya is a neighbourhood in the Salamanca district of Madrid. The reference sale price is €9,634/m², based on the 2025 registry statistics (Madrid City Council): 100% above the Madrid median (€4,808/m²) and 2% below its district median (€9,840/m²). It ranks 6 of 130 neighbourhoods in Madrid by price and 4 of 6 within Salamanca.
The achievable market rent is around €27.8/m² per month (the neighbourhood's own figure; idealista asking rents adjusted to achievable rent): about €1,835 a month for a typical 66 m² flat, with no legal cap. The gross yield (annual rent ÷ price) comes to 3.5%, 1.2 points below the city median (4.7%): rank 114 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 9.1%, below the Madrid median (9.8%). It takes about €231,658 of cash (deposit, taxes and costs), and first-year cash flow after tax is -€967 a month.
Asking prices in the Salamanca district have grown by an average of 6.5% a year over the last 10 and 15 years (idealista, December 2025), capped at the 6.5% we apply in the IRR. Historical, not a forecast: it is the appreciation the modelled sale assumes.
A typical flat in Goya
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
- 66 m²
- Purchase price
- €635,844
- Monthly rent
- €1,835
- Cash needed · deposit + transfer tax + costs
- €231,658
- Monthly cash flow (year 1)
- -€967
- Total Return (IRR)
- 9.1%
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 Salamanca, ranked by gross yield
| Area | €/m² | Rent €/m² | Gross | IRR |
|---|---|---|---|---|
| Guindalera | 6,652 | 23.5 | 4.2% | 10.3% |
| Fuente del Berro | 7,594 | 22.6 | 3.6% | 9.3% |
| Goya | 9,634 | 27.8 | 3.5% | 9.1% |
| Lista | 10,046 | 26.5 | 3.2% | 8.6% |
| Castellana | 11,739 | 28.5 | 2.9% | 8.3% |
| Recoletos | 14,032 | 30.7 | 2.6% | 7.9% |
Frequently asked questions
How much does a square metre cost in Goya?
€9,634/m² on average, based on the 2025 registry statistics (Madrid City Council). A typical 66 m² flat costs about €635,844, 100% above the Madrid median.
How much is rent in Goya?
Around €27.8/m² per month at market rates: €1,835 a month for a 66 m² flat, with no legal cap.
Is Goya a good buy-to-let investment?
The gross yield is 3.5% (Madrid median: 4.7%). With a 70% mortgage and a sale after 10 years, the estimated Total Return (IRR) is 9.1% against a city median of 9.8%. It depends on your financing and tax residency: with your own profile the number can change.
Is Goya 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 Goya?
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