Formula 1 pushes Madrid short-term rents up to €20,000 near the track
The Spanish Grand Prix, held in Madrid from 11 to 13 September, has driven short-term rental prices sharply higher both near the Madring circuit and in the city centre, with some listings reaching €20,000 for just a few days. Hotel and parking prices have also surged.
As Madrid hosts the Formula 1 Spanish Grand Prix this weekend, a second contest is unfolding alongside the racing: property owners cashing in on the surge in demand. In Valdebebas, the district next to the Madring circuit, short-term rentals have recently been listed for as much as €20,000 for just a few days, with some owners limiting availability strictly to the race period.
One Airbnb listing offered a luxury house near the circuit for €11,400 for four nights. By comparison, a standard monthly rent in the area typically runs around €2,500. Mario Serrano, founder of local agency Inmobiliaria Valdebebas, said many homeowners — some still living in their properties — are choosing to rent them out now that the Grand Prix has put the neighbourhood in the spotlight.
Parking and hotel prices also climb
The pressure has extended to parking spaces, with garage spots in Valdebebas reportedly listed for up to €500 for the weekend. More than 120,000 tickets have already been sold, and organisers expect over 80,000 attendees to travel from outside the Madrid region, including roughly 45,000 from abroad. A PwC report cited by race organisers estimates the event's economic impact on the region at €467 million and forecasts the creation of about 8,850 jobs.
Hotels have raised rates too: an analysis by Simon-Kucher found average nightly rates during race weekend reaching €1,071, up 147% from the previous week.
Central districts also in high demand
Although the circuit sits on the city's outskirts, demand has also surged in Madrid's historic centre. Agency Barnes estimates that luxury rentals in districts such as Salamanca, Chamberí, Chamartín and Los Jerónimos have risen by up to 1,000% compared with a typical week. High-spending visitors, including team staff, sponsors and VIP clients, often prefer these upscale central areas over proximity to the track. Listings included a five-bedroom property in Chamartín for €17,100 from Friday to Monday, and a Salamanca district flat for €14,600 over the same period.
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