A room at the hotel · indicative visualisation
El Boalo
A serviced mountain estate for Madrid, forty-five minutes from the city.
A private collection of villas and residences on a seven-hectare estate in the Sierra de Guadarrama, set within a further twenty hectares of protected countryside. All meadow, dehesa and granite.A wellness hotel, spa and working farm at its heart.What follows is how we are building it, who it is for, and what it sells for.
Designated residential land · Sector 1B · Sierra de GuadarramaWhere it is
Forty-five minutes from Madrid, 253 metres above it
North of the city at the foot of the Sierra de Guadarrama. Close enough to use every weekend, far enough to be another world.
The shelf at the foot of the sierra
Not in the mountains and not on the plain. El Boalo sits at 920 m, 253 above Madrid, high enough to hold the climate and low enough to keep the road open. Peak and settlement altitudes are exact; the ground between them is schematic.
Proximity to all that matters
The A-6 or the M-607 from Madrid Centro, the cercanías line at Cercedilla, and Barajas at fifty minutes. Twelve of the seventeen places on this drawing sit inside thirty minutes of the gate: villages, a reservoir, climbing, a summit and a ski lift. Rings are drive times; each place sits on its true bearing.
Cooler summers
Afternoons and especially nights run cooler than the city, the reason madrileños have escaped up here for generations. Two hundred and fifty three metres of altitude, and none of the city’s stored heat after dark.
Indicative. Modelled from the altitude difference and the city’s heat island, not yet verified against AEMET station records.
Four real seasons
Snow on the peaks from November to March, green springs, warm dry summers and a long autumn. Twenty-two degrees separate the January and July highs, which is why the estate is used in every month rather than three.
Indicative monthly figures for 920 m, to be confirmed against AEMET station records.
What we are building
A wellness retreat for Madrid
Hospitality at its finest.
Fully serviced branded residences.
Your second home without the hassle, in open country.
Hospitality at its best
A wellness hotel and spa on the access contour, turning every home here into a serviced residence. We are in talks with international wellness and destination brands, and with expert Spanish operators.
It is also the showroom. A buyer books a night, swims, eats at the farm table and walks the dehesa before anyone shows them a price. Guests who come for a weekend leave as owners, which is how the hotel sells the homes around it.
A restaurant worth the drive from Madrid
Open fire, long tables, the kitchen garden a few steps away and the farm behind it. What is picked here is cooked here, and what the surrounding land grows arrives on the same table. Regenerative living is not a claim on this estate, it is the menu.
We are in talks with leading figures from the Madrid culinary world to run it, so the restaurant is a destination in its own right rather than a hotel amenity. A restaurant people drive up for brings the estate an audience of its own, and gives every owner somewhere to eat on a Tuesday.
Living with the doors open
Everything here is oriented south and west, at the buildings’ low, quiet scale, so the sierra is in the room rather than framed on a wall. Terraces run straight out into dry-stone walls and dehesa, with no fence to stop the eye.
Half the year is spent outside: long lunches under the pergola, fires lit as the temperature drops, dark skies overhead. Twenty hectares of protected country wrap the estate, so the horizon you buy is the horizon that stays.
Somewhere to work, and somewhere to stop
A study and library on the estate: desks that face the dehesa, quiet corners. Fast connection, no commute, and the door to twenty hectares of open country three steps away.
It is what makes the sierra a place you use on a Wednesday rather than only in August. Work the morning here, walk at lunch, and be back in Madrid in forty-five minutes when the week demands it.
The club
Thermal water and cold plunge in the rock, a sauna facing the peaks, treatment rooms, a gym and studio, and courts and pools beyond. Everything a serious day in the sierra asks for afterwards: come down off La Pedriza, in from the gravel trails, back from Navacerrada, and the recovery is a two-minute walk from your door.
Space for the active hours and the still ones. Train early, swim at noon, and read by the fire while the light goes off the granite. Owners hold membership as part of the estate, and the hotel runs it to a standard that has to satisfy paying guests as well, which is what keeps it sharp year after year.
What it sells
Low-density villas on the south-facing contours, with a working farm and a sports club alongside. Simple buildings, few materials, the landscape left to do the work.
| Product | Buildable | €/m² | Sold as |
|---|---|---|---|
| Hotel rooms & suite villas | 5,286 m² | 4,500–5,500 | Individually, owned outright, managed and let by the hotel |
| Villas | 5,392 m² | 3,200–3,600 | Freehold, in a range of sizes, on their own plots |
| Spa, restaurant & commercial | 5,110 m² | 2,800–3,200 | Separately, as an income-producing asset |
| Regulated homes · VPP | 3,524 m² | ~1,800 | Public register, outside the agency mandate. Built on the edge of the estate, bordering the town. |
| Parking | 1,762 m² | with the unit | Allocated pro rata to the rooms and the homes |
Typologies
Four ways in, from a studio to a villa
Sizes carry a plus because the homes are modular: each typology starts at the size shown and grows to the plot. Every home sits on the edge of open rural land, with its garden planted as unfenced dehesa that runs straight out into it.
| Home | Built | Garden | Starting at |
|---|---|---|---|
| Dehesa Loft · studio Your entry to the estate and everything on it. Room to sleep, work, lounge and store, done properly, with generous private outdoor space. | 75+ m² | ~65 m² | €250k |
| Two bedroom Two bedrooms convertible to three, with a living room. Space for guests and small families. The home away from home. | 130+ m² | ~110 m² | €450k |
| Four bedroom The group get-together. A large family, or four to six couples, with the estate's adventures and comfort at the door. | 190+ m² | ~170 m² | €650k |
| Grand villa A large plot shaped to how you live, and a house built for generations, in a setting that will not change around it. | 265+ m² | ~300 m² | €900k |
Prices are the estate specification. The same home serviced and branded by the hotel runs at €5,000/m², set out in What we are building.
Dehesa Loft · studio
Your entry to the estate and everything on it: room to sleep, work, lounge and store, done properly, with generous private outdoor space.
Two bedroom
Two bedrooms convertible to three, with a living room. Space for guests and small families. The home away from home.
Four bedroom
The group get-together: a large family, or four to six couples, with the estate’s adventures and comfort at the door.
Grand villa
A large plot shaped to how you live, and a house built for generations, in a setting that will not change around it.
The programme
Built on what the area is already known for
Every part puts guests and owners straight into the landscape, and gives the hotel another reason to be visited.
Wellness hotel & spa
A boutique hotel and spa on the access contour, serving owners and guests, and making every home a serviced residence.
Farm & table
A working farm and kitchen garden on the east meadow, developed with local farmers, feeding a restaurant meant to be a destination in itself.
Courts & play
Padel and tennis, pools, a fitness pavilion, and timber play structures for children.
Climbing & mountain
Guided climbing and bouldering on La Pedriza, nearly a thousand routes minutes away. Walking and trail running from the gate, and La Maliciosa at 2,227 m above the village.
Snow
Navacerrada and Valdesquí about thirty minutes further up the sierra, and the peaks under snow from the estate all winter.
Water
Embalse de Santillana, ten minutes away: open-water swimming, paddle and kayak, birdwatching.
The village
Mataelpino, the next village in the same municipality, runs its boloencierro each summer. Local producers at the table, festival weekends.
Site photography
Seven hectares framed by dry-stone walls
Surrounded by twenty hectares of protected countryside.
The sierra on the horizon.
Photographed on site, January 2026.
The demand
The buyer already lives in Madrid
Some 65,000 declarations in the region clear €150,000 a year, the wealth sits in the corridor facing the sierra, and two thirds of those households have yet to buy a second home.
Why now
- Madrid prime is compounding
Five to six per cent a year, three years running, with Knight Frank ranking Madrid at the top of Europe’s prime markets. New build hit a record €5,172/m².
- The corridor has nothing to sell
A handful of townhouse and semi-detached schemes in the pipeline, none of them serviced. The estate arrives into a market repricing upward with nothing like it to buy.
Three buyers, all already in Madrid
| Buyer | Pool | Buys | What to test |
|---|---|---|---|
| Sierra primary movers Madrid families relocating to the corridor |
400–650 households a year | Estate villa · from ~€850k | Schools, year-round living, the commute |
| Second-home buyers High-income Madrid, no second home yet |
~45,000 households | Estate villa and suite villa | Weekend use against the coast, and how much the rental return from tourist occupancy drives the decision |
| Madrid internationals 1.2M foreign residents, 45% of prime purchases |
1.2M residents | Suite villa · from ~€1.5M | Serviced, lock-and-leave, the brand, and the yield they expect the hotel to generate on the weeks they are away |
Comparables
We enter below the floor of the category
The peer band starts at €4,375/m² and runs to €25,000 in the high Alps and the Aman tier. We price beneath the entry, with the whole category above us.
Suburban money, bought in open country
At the price of a plot in Madrid’s prime outskirts, twenty minutes out, you buy a serviced home on a seven-hectare estate forty-five minutes out, with a hotel at the centre and twenty hectares of protected country around it. The extra distance is the product.
Prime outskirts: Las Rozas, Majadahonda, Alcobendas and Pozuelo, new build, Sociedad de Tasación. Madrid capital new build, Sociedad de Tasación Dec 2025. Villa figures from 30+ live listings, July 2026.
Straight off the table
- No peer combines what we have
A metropolitan market of about seven million, larger than Lisbon or Athens, forty-five minutes away, and a genuine mountain landscape. The city-adjacent peers are urban seafront. The great rural estates sit two to three hours out.
- Four seasons, so demand runs all year
At 920 m the estate is a cool-air escape from Madrid’s summers, has snow within reach in winter, and temperate spring and autumn. Mediterranean peers are summer-led, Alpine peers winter-led.
- The brand premium is there to take
Branded residences in resort locations command a 39% premium over unbranded stock, the highest of any setting, against a 33% global average.
- We ask less than our own city
Every peer charges a premium over the city that feeds it. At 0.7 times the Madrid metre, we are the only one asking less.
- This category trades at double elsewhere
The median retreat in section 06 sells at 2.2 times the average metre in the city that feeds it. We ask 0.7 times Madrid. Reaching the bottom of the category is not a forecast, it is a correction.
The category, most expensive first 1 of 3
| Retreat | €/m² | Nearest city | City €/m² | Multiple | Operator |
|---|---|---|---|---|---|
| El Boalo Spain · Sierra de Guadarrama · Continental mountain · 4 seasons | 3,400–5,500 | Madrid 45 min | 6,547 | 0.68× | BYLD |
| Reschio Italy · Umbria hills · Continental · 4 seasons | ~10–15k | Perugia 45 min · Rome 3h | 1,221 | 10.2× | Castello di Reschio |
| Amanzoe Greece · Porto Heli · Mediterranean | ~15–25k | Athens 2h45 | 2,580 | 7.8× | Aman |
| One&Only Aesthesis Greece · Athens Riviera · Mediterranean coastal | ~12–20k | Athens 30 min | 2,580 | 6.2× | One&Only |
| Lefay Italy · Lake Garda · Mild lake · 4 seasons | ~8–12k | Verona 1h · Milan 2h | 2,816 | 3.6× | Lefay |
| The Ellinikon Riviera Greece · Athens Riviera (urban) · Mediterranean coastal | ~7,630 | Athens, in metro | 2,580 | 3.0× | LAMDA (branded) |
| Rosewood Castiglion del Bosco Italy · Val d'Orcia · Continental Med · 4 seasons | ~10–18k | Florence 2h · Rome 3h | 4,733 | 3.0× | Rosewood |
| Finca Cortesin Spain · Casares · Mediterranean | ~8–14k | Málaga 1h | 3,784 | 2.9× | resort estate |
The category, continued 2 of 3
| Retreat | €/m² | Nearest city | City €/m² | Multiple | Operator |
|---|---|---|---|---|---|
| La Zagaleta Spain · Benahávis · Mediterranean | ~6–12k | Málaga 1h | 3,784 | 2.4× | gated estate |
| Costa Navarino Greece · Messinia coast · Mediterranean · hot summers | ~5,760 | Kalamata 40 min · Athens 3.5h | 2,461 | 2.3× | Mandarin Oriental / W |
| Quinta do Lago Portugal · Algarve · Mild Mediterranean · 300+ sun | ~6–10k | Faro 15 min · Lisbon 2.5h | 3,870 | 2.1× | resort estate |
| Argentario Italy · Tuscan Maremma · Mediterranean | ~6–10k | Rome 2h | 3,758 | 2.1× | independent |
| Son Vida Spain · Mallorca · Mediterranean island | ~8–12k | Palma 15 min | 5,257 | 1.9× | resort estate |
| Muda Reserve Portugal · Comporta/Alentejo · Mild Mediterranean | ~8–14k | Lisbon 1h | 6,107 | 1.8× | Vanguard |
| Tegernsee estates Germany · Bavaria · Alpine foothills · 4 seasons | ~10–15k | Munich 1h | 7,855 | 1.6× | independent |
| Sotogrande Spain · Cádiz · Mediterranean | ~4–8k | Gibraltar 30 min · Málaga 1h15 | 3,784 | 1.6× | gated estate |
The category, and where we sit 3 of 3
| Retreat | €/m² | Nearest city | City €/m² | Multiple | Operator |
|---|---|---|---|---|---|
| Terre Blanche France · Provence · Mediterranean · warm | ~7,700+ | Nice/Cannes 45 min | 5,216 | 1.5× | Terre Blanche |
| Ombria Portugal · inner Algarve · Mild Mediterranean · 300+ sun | ~4,375 | Faro 25 min · Lisbon 2.5h | 3,870 | 1.1× | Viceroy |
| Bürgenstock Switzerland · Lake Lucerne · Alpine lake | ~15–25k | Lucerne 30 min · Zurich 1h | – | — | Bürgenstock |
| Costa Terra Portugal · Melides · Mild Mediterranean | from €4M | Lisbon 1h15 | – | — | Costa Terra |
| Kitzbühel chalets Austria · Tyrol · Alpine · ski | >10k | Innsbruck 1h · Munich 1h45 | – | — | independent |
| Six Senses Crans-Montana Switzerland · Valais · Alpine · ski | ~9.5–21k | Geneva 2h | – | — | Six Senses |
| The Alpina Gstaad Switzerland · Bernese Oberland · Alpine · ski | ~25k+ | Geneva 2h | – | — | The Alpina |
| Andermatt Switzerland · Uri Alps · Alpine · ski Nov–Apr | ~16–18k | Zurich 90 min | – | — | The Chedi / Elie Saab |
The upside
Land is fixed, Madrid is growing
The category already trades at double elsewhere. Everything not yet done here is what the early buyer is paid for.
Where the value goes
The launch buyer takes unbranded, unbuilt land risk. The 2030 buyer takes a finished, serviced home on a trading estate with a brand on it and nothing left to sell. The ladder is our pricing policy at each milestone, not a market forecast.
The ladder is BYLD’s own pricing policy at each milestone, not a forecast of the market. Indicative and confirmed at Plan Parcial. Nothing here is an offer, a contract or a guarantee of value.
Land is the part you cannot make more of
A hotel can be built anywhere. Seven hectares at 920 m, forty-five minutes from a capital and backed onto a national park, cannot be replaced.
Madrid has no rural product
Visitors come to Madrid for the city and leave having seen only the city. The sierra is forty-five minutes away with mountains, water, rock, snow and a working countryside, and nothing serviced to stay in. The demand exists; the product does not.
The estate can grow
Adjacent parcels can be brought into the estate, farmed and grazed regeneratively, so nothing is ever built between these homes and the sierra. Reclassification is a possibility, not a plan and not an entitlement.
Regenerative living needs projects that prove it
Every operator and every buyer now claims the language. Very few can show the land, the farm and the trees behind it. An estate that farms its own surroundings and keeps three quarters of itself open is demonstrable, and demonstrable is what the market is short of.
Call to agents
Take it to your buyers and tell us what comes back
We are looking for hard signal, not opinion, and for the partners who will bring it to market with us.
Appetite at the price points
Estate villas from ~€650,000 and suite villas from ~€1.5M. Where does interest concentrate, where does it break, and what are buyers looking for?
The two buyer routes
Greater-Madrid primary and second-home buyers, and international buyers who want a capital within an hour. Which converts faster?
Product and size
Preferred villa sizes, plot sizes and typologies, so the mix is shaped by demand.
The pull of the serviced offer
How much of the premium is carried by the hotel, spa, farm and the open horizon? And which operator would draw the buyer?
Reservation intent
Expressions of interest and reservation appetite off-plan, with the deposit level buyers will commit at.
Sources
Market & catchment. AEAT, Estadística de los declarantes del IRPF 2023, Comunidad de Madrid (64,640 declarations above €150k, 6,573 above €601k; Madrid 44% of €601k+ earners); INE Atlas de Renta and padrón, table 2881 (corridor population growth); INE ECEPOV 2021 (31.2% of households above €5,000/month hold a second residence); Banco de España, Encuesta Financiera de las Familias 2022; Colegio de Registradores and Notariado (buyer origin, 2025); Knight Frank Madrid (internationals 45% of prime purchases, 2024); Parque Nacional de la Sierra de Guadarrama, visitor statistics 2024.
Transactions & velocity. MIVAU, transacciones inmobiliarias por municipio (2024–2025, latest quarters provisional); Engel & Völkers northwest-Madrid market report via idealista/news, Sep 2025 (Torrelodones average price and selling times).
Villa comparables. 30+ live idealista listings across El Boalo, Moralzarzal, Manzanares el Real, Becerril, Collado Mediano, Alpedrete, Guadarrama, Hoyo de Manzanares, Galapagar and Torrelodones, July 2026; idealista municipal price index, June 2026.
City comparison. Metro residential averages mid-2026 from the national index in each market (idealista, idealista.pt, ImmoScout24, Immobiliare.it / Monitorimmobiliare, MeilleursAgents, Spitogatos, Indomio); Eurostat regional GDP per capita in PPS, 2023 (nama_10r_2gdp).
Prices. idealista / Fotocasa indices; Sociedad de Tasación (Madrid new-build €5,172/m², Dec 2025); Knight Frank Prime Global Cities Index and PIRI (Madrid prime growth 2023–2026); Savills Branded Residences report 2025/26 (resort premium 39%). Peer retreats: published sales and prime-market data for each destination.
Scheme. Ficha urbanística Sector 1B, NNSS El Boalo (BOCM núm. 174, 25 Jul 2011); BYLD masterplan tool, map.gobyld.com.
Contact
Take it to your buyers.
Email usBYLD · Calle Conde de Aranda 1, 28001 Madrid