The Salamanca district of Madrid is one of more expensive places to live. This area was named after the Marqués de Salamanca (1806-1863). He is credited with developing this area for the wealthy individuals in Madrid.
The Calle de Serrano forms the western boundary of the Salamanca district. Today it is the location of a number of fashionable shops as are many of the streets that parallel or intersect it.
Ever since Madrid's city walls came tumbling down in the 1860s, the district of Salamanca to the east has been one of the most fashionable places to live in Madrid. Calle Serrano marks the western border of this neighborhood and is lined with international shops, stores, and boutiques. The U.S. Embassy is located halfway up the avenue, close to the Lázaro Galdiano Museum.