The Palacio Real, or Royal Palace, is Madrid's largest building and possibly its most beautiful. It is located next to the equally beautiful Plaza de Oriente square.

The Royal Palace is one of the top tourist attractions in Madrid. It is the official residence for the Royal family, but these days they only use it for state ceremonies. The rest of the time it’s open to the public. Otherwise known in Spanish as the Palacio Real, the Royal Palace was built during the 18th and 19th centuries, and is a monumental building.

It replaced the former medieval Alcázar, which was burnt to the ground in 1794. The present day Royal Palace of Madrid was decorated to the tastes of Charles III, and is extremely lavish inside. Visitors can wander through many of the rooms and banqueting halls.

The old Alcázar ("Castle") was built on the location in the 16th century. It burned down on December 24, 1734; King Philip V ordered a new palace built on the same location. Construction spanned the years 1738 to 1755 and followed a Berniniesque design by Filippo Juvarra and Giovanni Battista Tiepolo in cooperation with Ventura Rodríguez, Francesco Sabatini, and Martín Sarmiento. The new palace was occupied by Charles III in 1764.

The last monarch who lived continuously in the palace was Alfonso XIII, although Manuel Azaña, president of the Second Republic, also inhabited on it, making him the last head of state to do so. During that period the palace was known as "Palacio Nacional". There is still a room next to the Real Capilla, which is known by the name "Office of Azaña".

Under the Habsburg Spain, enthroned in 1516, the Emperor Charles V, Holy Roman Emperor undertook a major restoration of the Alcázar, to Renaissance features unambiguous in order to transform the outdated medieval residence into a palace suitable for his court. Philip II continued the work and showed special emphasis on the decoration of the building, which hired craftsmen from Italy, France and the Netherlands. However, the most important contributions of this monarch were the Golden Tower and the Royal Armory, demolished in 1894. The Habsburgs (Philip III, Philip IV and Charles II) continued the project of Philip II, particularly related to the trace of the building and the facades.

Philip V of Bourbon came to the throne of Spain in 1700. The alcázar of the Habsburgs, austere in comparison to the French palace where the new king had grown again, went through several reforms led by Teodoro Ardemans and René Carlier. On the other hand, the main rooms have been redecorated to the French taste by the Queen Maria Luisa of Savoy and the Princess of Ursins.

Many details of the inner side of the enclosure are not known; but lots of documentation about its plant and exterior is available, like a drawing made in 1534 by Cornelius Vermeyen. It was a rectangular building, medieval appearance and is structured around various dependencies like the Capilla Real de los Trastámara, the Patio del Rey to the west and the Patio de la Reina to the east. Its patios (courtyards) were open to the public for many years and these were allowed the installation of markets. It also highlights the picture gallery of the alcázar, with works by Tintoretto, Veronese, Ribera, Bosch, Sánchez Coello, Van Dyck, El Greco, Annibale Carracci, Leonardo da Vinci, Guido Reni, Raphael, Jacopo Bassano and Correggio, many which were lost in the disaster of 1734.

Madrid's Royal Palace is the largest royal palace in Western Europe. It was built on the site of the old Alcázar, the Moorish castle destroyed by fire in 1734, but the site has been occupied since the 10th century by the Moors, who having named the city's Manzanares river al-Magrit ("source of water"), referred to the area as Mayrit which became Magerit, then Madrid. The old city walls around this area may still be seen.

Just walking around the outside of the Royal Palace is impressive. There is a vast courtyard behind elegant iron fencing. To the side of the courtyard is an unexpected and stunning view across the countryside beyond. It’s as if Madrid just stops and the fields and trees start. On a clear day this panoramic view is breathtaking.

Once inside the Royal Palace, you have a choice of purchasing either a ticket for a guided tour, or a normal ticket (1.00 euro less) so that you can walk around at your own pace. The guided tour is very in depth and takes about 45 minutes. If you walk around under your own steam, there are still information points throughout that explain more about each room and its function.

You have access to lavish halls, banqueting rooms, the throne room, residential areas, the Royal Armoury and Royal Pharmacy. Many important events have taken place within the walls of the Royal Palace. For example, the Hall of Columns was where Spain signed a treaty that gave them acceptance into the European Union in 1985.

The palace was initially designed by Filippo Juvarra to accommodate the court of Felipe V, a total of more than 3000 courtiers. Juan Bautista Sacchetti initiated the building project in 1737 and Francisco Sabatini and Ventura Rodríguez terminated the works. It is surrounded by the beautiful Sabatini and Campo del Moro parks.

The palace itself contains furniture, tapestries, paintings and ceramics as well as other important works of art and frescos by Tiépolo. Velázquez, Goya, Giordano and Mengs are all represented here amongst the dozens of valuable tapestries and paintings, making the palace one of Europe's most important museums and receiving more than 880,000 visitors in 2006.

It remains open to the public almost year round except on the days of official ceremonies and receptions, although the public can only access certain areas. It is located on Bailén street, and the nearest Metro station is Opera.

Opening hours are as follows:
- October to March: Monday to Saturday from 9,30am to 5pm, Sundays and holidays, 9am to 2pm
- April to September: Monday to Saturday from 9am to 6pm, Sundays and holidays, 9am to 3pm
- Closed for official acts, 1st & 6th January, 1st & 15th May, 12th October, 9th November and 25th December.

Entrance to this monument is free with the Madrid Card. It is possible to take a guided tour of this magnificent monument.

The palace gardens, called the Campo del Moro, are also worth visiting, as is the square nearby. The Plaza de Oriente takes its name from its location - to the east of the palace, and contains several sculptures of the precious Spanish monarchs. Just across this beautiful plaza stands the Royal Theater. You can get there via flight to Madrid.