María de Molina street, the border between the Salamanca district and El Viso, attracts developers with four luxury housing projects exceeding €10,000 per square metre, driven by the lack of land in the most sought-after areas and the arrival of international students.
María de Molina, a stretch of just one kilometre separating the Salamanca district from the exclusive El Viso area, has become the new showcase for luxury real estate in Madrid. Four high-end residential developments are transforming this street, where the average price per square metre is close to €10,182, according to the Notarial Statistical Portal. This figure surpasses that of neighbouring streets such as José Abascal (€8,500) or López de Hoyos (€7,822), although it is still far from the €14,000 of Serrano or nearly €13,000 of Claudio Coello.
The repositioning of María de Molina is a response to the so-called 'oil slick effect': the demand from high-income buyers, unable to find available land in the more traditional streets of the Salamanca district —where the best projects already exceed €25,000 per square metre— is seeking alternatives in adjacent locations with prices still affordable for their pockets.
The university engine attracting international buyers
A key factor in this phenomenon is the presence of IE University at numbers 31-33 on the street, in the former offices of Iberia. The academic institution acts as a gateway for a profile of high-income international buyers. According to Luis Valdés, senior director of residential project marketing at CBRE, “over the last decade, Madrid has transitioned from observing major European cities from a distance to competing directly with them, and much of this transformation is related to the arrival of an international audience that has found in the capital a place to live, study, and invest.”
Valdés adds that Madrid has established itself as one of the major university hubs in Europe, surpassing 65,000 international students last year. “This young, multicultural, and high-income community energises Madrid's educational and professional ecosystem and intensively consumes its cultural, commercial, and gastronomic offerings, accelerating its international projection,” he explains.
In addition to IE, other business schools have bet on the capital. IESE has expanded its facilities in Aravaca to train over 2,000 executives per year, Esade energises the Plaza de Castilla area, and Deusto Business School has landed in the heart of the Salamanca district. All of them feed a demand for luxury housing that seeks purchase as an alternative to renting.
Four projects marking the new direction of the street
Developers have quickly reacted. Four high-end residential projects are underway on María de Molina, according to sources in the real estate sector consulted. These are developments that focus on spacious homes, cutting-edge designs, and exclusive services, with prices ranging between €10,000 and €12,000 per square metre.
One of the most notable projects occupies the former office building of a large corporation, converted into luxury residences with a pool, gym, and private green areas. Another, at number 45, offers duplexes with terraces and views of the Castellana. The third, promoted by a firm specialising in 'prime', includes penthouses with private pools. The fourth, still in the marketing phase, is expected to be delivered in 2028.
The street, designed in the early 20th century to connect the Castellana with the Ronda Norte, was born as a residential promenade flanked by villas and small hotels where figures such as painter Daniel Vázquez Díaz and Maestro Padilla resided. Over the decades, it transformed into a business and administrative hub, although it still retains landmarks such as the palace of the counts of Almaraz or Villa Thiebaut, the current headquarters of IE.
For the interested buyer, the recommendation is clear: if you are looking for luxury housing in Madrid and the Salamanca district has become too small (or expensive), María de Molina offers an alternative with potential appreciation, thanks to the university pull and the scarcity of supply in adjacent areas. The delivery timelines for the projects range between 2026 and 2028.
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