The Palacio Real de Madrid (literally: Royal Palace of Madrid) is the official residence of the Spanish Royal Family at the city of Madrid, but is only used for state ceremonies. King Juan Carlos and the Royal Family do not reside in the palace, choosing instead the more modest Palacio de la Zarzuela on the outskirts of Madrid. The palace is owned by the Spanish State and administered by the Patrimonio Nacional, a public agency of the Ministry of the Presidency. The palace is located on Calle de Bailén (Bailén Street), in the Western part of downtown Madrid, East of the Manzanares River, and is accessible from the Ópera metro station. Several rooms in the palace are regularly open to the public except during state functions. An admission fee of 11€ is required except for residents of the Iberian Peninsula.
In Spanish, it is sometimes incorrectly called "Palacio de Oriente" by confusion with the "Plaza de Oriente", the square which lies to the East (Oriental) side of the palace.