Rockstone Real Estate Iberia has formalised the public deed of purchase for the building located at 16 Avenida Cerro de los Ángeles, in Madrid’s Usera district, to transform a commercial property into a new-build residential building with over 30 homes.
The project will comprise four above-ground floors and a basement for parking, and will feature terraces in all homes and a communal roof terrace with an outdoor swimming pool.
With this transaction, Rockstone is expanding its residential operations in Madrid to the Usera district, having previously developed projects in areas such as Malasaña, Centro and Almagro. In the capital, it has been operating since 2022 with properties at Virgen de los Peligros 9, Santa Engracia 42 and Calle del Pez 3.
Usera has a population of 150,000, a direct connection to central Madrid via the metro in 14 minutes and is close to Madrid Río. The property is located in a district with a historically lower presence of new-build developments compared to other areas within the M-30 ring road.
The average house price in Madrid stood at €7,399 per sqm at the end of the first quarter of 2026, representing a year-on-year increase of 10.9%, according to Brains RE News. In Usera, prices are between 25% and 40% lower than in other comparable districts within the M-30 ring road, according to data provided by Rockstone.
The sale takes place against a backdrop of increased investment activity in the residential sector. The residential segment led property investment in Spain during the first quarter of 2026, with €2.386 billion transacted and a 127% increase compared to the 2025 average. In the Iberian market, the Rockstone Real Estate subsidiary has committed to an investment of €250 million for the 2023–2027 period across Spain and Portugal.
