The geographic and symbolic centre of Spain — kilometre zero of the country's road network is marked by a plaque underfoot on the south side of the square, and the bronze Bear and the Strawberry Tree statue on the east side is Madrid's civic symbol, painted on taxis and signposts across the city. The square is busy from breakfast to small hours, with buskers, ticket touts, demonstrators, and the constant flow of commuters in and out of the metro and Cercanías stations underneath.
The buildings around the square are mostly 19th-century commercial — the most important is the Real Casa de Correos on the south side, originally the royal post office, now the seat of the regional government of Madrid and home to the famous Reloj de Gobernación. The square works best as a pivot for short walks: west to the Palacio Real, south to Plaza Mayor, east to the Prado, north to Gran Vía.