The Community of Madrid, despite being the most prosperous region in Spain, also exhibits significant inequality. According to the Más Madrid study, the wealthiest 1% of the population holds over a third of the total wealth, while the lower-income half possesses only 6.31%.
The report, titled Madrid for the Rich: An Analysis of Inequality in Madrid, will be presented by the opposition party this Tuesday. The data obtained indicates that the average household income in the region reaches 44,889 euros, exceeding the national average by 21%. However, this figure conceals deep disparities across different areas of the capital.
Disposable income in districts such as Chamartín and Moncloa-Aravaca is double that of Usera, Villaverde, and Puente de Vallecas. Residents in these latter three districts face severe difficulties covering their monthly expenses, primarily due to the high cost of housing, a factor that has significantly impacted the finances of Madrid residents in recent years.
“"Since Almeida became mayor, living in Madrid has become a luxury that many families cannot afford. The PP has built a Madrid for the rich: a city that opens its doors to elites and great fortunes, while leaving behind families, working people, and those who need it most."
The study also highlights that while districts like Chamartín, Moncloa-Aravaca, Salamanca, Chamberí, and Retiro maintain a savings capacity close to 50% of their income, households in Villaverde, Usera, and Puente de Vallecas cannot make ends meet. The situation worsens when considering the cost of raising a family, where up to seven districts, including Carabanchel, Latina, Villa de Vallecas, and San Blas-Canillejas, would struggle to save and could fall into debt.
The report attributes much of this problem to the increase in housing prices during Mayor Almeida's tenure, the highest nationwide. Rents in the Centro district soared by 64%, followed by Puente de Vallecas (51%) and Usera (50%). Concurrently, housing sale prices rose by 56%, with notable increases in Retiro and Salamanca (70%).
“"The real Madrid reveals that four out of ten Madrid households struggle to make ends meet. And what is even more unacceptable: one in three children under 16 lives in poverty in this city. That is the failure of the PP's model: a lot of wealth in very few hands."
Más Madrid spokesperson, Rita Maestre, has criticized the current model, proposing a project based on four pillars: housing, fairer taxation, territorial rebalancing of neighborhoods, and support for working families. The report's data comes from various sources, including the National Institute of Statistics, the Tax Agency, and the Madrid City Council itself, as well as studies by organizations such as CC.OO., Esade, and Intermón-Oxfam.
