El Retiro is also known as the Parque del Buen Retiro and it is a great location that you can spend a peaceful afternoon if you want to take a break from shopping and visiting other venues. The park became a public location close to the 1900s, until then being a domain of the Spanish crown, thus a private location.

The park is quite large, having a surface of 350 acres, and it gives you the opportunity to admire statues, galleries and to spend some time by the lake.
If you are lucky enough, you can visit the park when the annual Book Fest takes place, but you can also listen to free concerts of the Banda Sinfonica de Madrid. A lot of other street performers can be found all throughout the park, all of them trying to impress you with their unique talents.