Is Madrid Expensive For Real Estate Owners?

In this post, we will discuss whether Madrid is expensive for real estate owners. If you want to experience Spanish welcoming in-depth, Madrid is the best choice. The city is known for its positive citizens, multicultural cuisine, and a variety of entertainment opportunities. This is not Spain with the sea, cocktails, and beaches. The nearest beach is two hours away by high-speed train, and the temperature reaches +40 °C. Bathing in Madrid’s fountains and pools is normal. Many foreign investors are looking for a spacious villa for sale in Madrid for relocation or as a long-term investment.

Is Madrid Expensive For Real Estate Owners?

What does the city offer and how much money do you need to live there? Let’s find it out. 

Lifestyle in Madrid 

Madrid’s status as the industrial, financial, economic, and cultural center of the country does not prevent it from retaining its authenticity. Some of Madrid’s central streets resemble village streets rather than city streets. For an authentic Spanish atmosphere, you don’t have to look far. Walking down the streets, you can see not only the beautiful old architecture but also the way of life, which has remained there for centuries – open-air restaurants, selling calamari and tapas on the street. People relax and eat, mingle and laugh loudly – that’s true in Spain.

Peculiar features of Madrid 

• Tolerance. 

As the country welcomes foreigners from all over the world, the government supports the freedom of religion. In Madrid, there are multiple places for worship for people of different beliefs. 

• Positivity. 

Locals are very friendly people and will help in any situation. Even if they are not able to solve your problem, they are masters in emotional support. 

• Feminism.

Most women in Madrid want to be independent and seek equality with men. Therefore, on a date or business meeting, it is not always correct to pay for the girl. It can spoil the relationship a lot.

Real estate for sale in Madrid 

As with any destination in Spain, Madrid boasts incredible popularity among foreign real estate buyers. There is a huge demand for luxury properties as well as cozy apartments. Buying an apartment, house, or villa in Madrid is a good investment. If you do not plan to live permanently, there will be no problems with renting. Moreover, the purchase of a residential real estate in the capital of Spain is a great fortune, because the demand for it really far exceeds the supply. 

There are many reasons to buy an apartment in Madrid in the center or in any other area of the capital. The main reasons for such a purchase are:

• The high level of development of the city.
• Active business and cultural life.
• The attractiveness of the capital for tourists and foreign workers.
• Beneficial state of the real estate market, etc.

Cost of living in Madrid 

The total amount of spending in Madrid may differ due to various factors. The first one is the level of life a person is used to. However, there are some common needs we cannot avoid in any country. Let’s look through the basic payments of a Madrid resident. 

• Rent of accommodation (if you do not have an opportunity to buy your own home) – €800-1000 monthly and higher.
• Food and groceries – €150 for supermarkets plus €100 for restaurants and cafes.
• Entertainment – €100 (depending on your preferences).
• Transportation – €50. 

Having analyzed the list, it is possible to say that €1500 is the minimum monthly income you need to live in Madrid. We do not take into account such options as buying clothes, traveling, various services, and some specific procedures. They are individual, so it is almost impossible to get an accurate number. 

The bottom line 

Madrid will suit those who like a warm climate, good food, active and cultural life. No doubt, owning real estate in Madrid is always a more beneficial option than renting it out. If you take on a mortgage, you pay for your own housing unit, but not for somebody`s home. The official website Spain-Real.

Estate offers a sound selection of villas and apartments at reasonable prices. Monitor the variants from famous developers and do not hesitate to own a property in the capital of a European country.