Madrid, the capital of Spain, and the most Spanish of the cities within the country; has a cultural heritage as rich and diverse as the property that is available on the market there today.
Modern Madrid is a buzzing centre of commerce and finance – with a chic cosmopolitan twist to the day-to-day lifestyle. The largest municipality of the Community of Madrid, it is the third largest city throughout Europe – second only to London and Berlin. It has a metropolitan area that is the third-largest in the Europe after London and Paris, and a population of 3.142 million (Based on figures collated in 2014).
Property throughout the city and the residential areas surrounding the metropolis, range from contemporary city apartments to loft spaces and industrial-feel design, to large modern houses full of light and space to luxurious plots and outstanding family homes. For a city centre apartment expect to pay in the region of € 4,133.35 per square meter; whereas comparatively an apartment in the residential areas surrounding the city start from in the region of €2,524.35 per square meter. As a rough guide, a city centre three bed luxury apartment in the high end Salamanca would set you back a whopping €3,306,000 – whereas a three bedroom apartment in the suburbs of the city in the north-west, in the area of Pozuelo – would be obtainable at the far more digestible region of €500,000.
For those who simply must live in the city; and experience the best-of-the-best high life – hot spots in and around Madrid’s centre include the very exclusive for the most select of purchasers. Salamanca, Justicia, Almagro, Opera el Madrid de los Austrias and Las Letras / Cortes all fit the brief perfectly.
However if you identify more with the young and trendy hipster vibe, then head over to the areas of Chueca, Malasaña, La Latina and Sol and Gran Vía.
Good value areas include Lavapies and Anton Martin, Chamberi and Chamartin, Moncloa and Arguelles and Retiro.
Some of the better areas in the suburbs include those situated in the north-west and the north east; and enable the British individual to not only stretch their budget further – but also to fantasize about – and indeed purchase a much larger house than those properties to be found in the Madrid’s bustling capital. Try Pozuelo, Majadahonda, Boadilla, Las Rozas in the north-west; and La Moraleja in the north-east.
For the British person who is thinking of living in Madrid, there are countless expat groups, meetups and social events – as well as online communities looking to reach out to fellow ex UK residents. Comparatively there are also Spanish language classes and groups looking to integrate and learn about Spanish culture and living and working in Madrid. There is a wealth of information available online for essentials such as healthcare and education, transport and the cost of living in the city; and as one expat community site writes: “Living and working in the bustling metropolis of Madrid, the Spanish capital city, is the dream destination of thousands of expatriates worldwide. Being the country’s economic, cultural and political hub, it provides countless opportunities and an incomparable quality of life. It is also world famous for its football clubs.”
Consider it sold!