We'd struggle to think of a better location than Gran Vía. This avenue is the city's lifeline, filed with theatres, shops and great transport links to Madrid's many landmarks. Grey Magnolia isn't only central, it looks good too. Some might find its minimalism a bit boring, but the well-curated designer furniture has plenty of character, making the most of the small square footage. We especially liked the headboard in the bedroom and the chic dining table.

Home truths:
* The only dining area in this home has high dining stools – not everyone will be comfortable on them
* Four guests can physically sleep in this home, but the last two will need to settle for the sofa bed
* The elevator in this building is extremely slow
* Aside from the TV with local channels, this home doesn't have any entertainment options
* Although the kitchen is well-equipped with appliances, it doesn't have the basic cooking ingredients