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Apartments in Madrid - the secondary market
Location on the map, climate, and economy
Madrid is the capital, the largest city in Spain and the administrative center of the autonomous community of Madrid. Located in the central part of the Iberian Peninsula.
Madrid is located in the Mediterranean-continental climate zone and is highly dependent on the environmental impact of the city itself. Winters are cold, at temperatures below 4-5°C, with frequent frosts and sometimes snowfalls. Summer is hot, with temperatures on average about 24°C in July and August.
Madrid is the largest political, industrial and economic center of Spain. Leading industries are chemical, metallurgical, electronic, pharmaceutical, electrical industries. The service sector is also developed, which now provides 85% of the metropolis GDP. The capital of Spain leads in the number of tourists received, having the largest hotel infrastructure in the country.
It is profitable to invest in apartments in Madrid: offers on the market and suggestions on where to buy properties
Apartments in Madrid can be one of the most promising assets for an investor due to its affordable price and high profitability. Every year the number of foreigners who want to rent or buy housing here is growing. Most of the local market falls on the secondary market. Persons interested in long-term passive income should definitely consider buying an apartment in Madrid. The city offers not only a promising secondary real estate market with excellent investment potential, but also a comfortable place for people who want to relax and retire.
In Madrid, it is easy to find an apartment for every liking. A variety of offers and a wide selection of types of local housing are impressive. You can buy luxury apartments with all amenities and city views, as well as compact studios, one-room economy class apartments with a convenient layout. Before buying (especially remotely), we recommend not only viewing the photo of the selected object, but also getting acquainted with the reviews of the residents of the house.
The best places to invest in housing in Madrid:
- Tetuan is one of the most popular areas, due to its location and the availability of apartments at an attractive price;
- El Retiro is one of the most attractive residential areas in the city center. It is located in the Retiro area, in the museum and park zone (the average cost per square meter exceeds 5000 euros);
- Salamanca is a great place to invest in the secondary market of the city. For a long time it was the most prestigious area of the city. On the streets there are many well-known enterprises and restaurants marked by Michelin stars, embassies of the most significant countries in the world;
- Gortaliza is a beautiful area adjacent to Mount Prado. Ideal for those who do not want to lose touch with the nature of the capital.
Website for buying and selling apartments in Madrid
The GEOLN.COM website with a convenient search interface helps investors to buy apartments in Madrid without intermediaries. You can quickly and easily select options according to the necessary parameters (offers of verified properties with photos from the owners) and get expert advice.
The cost of apartments in Madrid.
Apartment prices in Madrid begin on average from 2500-3000 euros per sq.m. It all depends on the area. In the south and southeast, you can buy cheap apartments in Madrid, costing 1500 euros per square meter. You can buy an apartment on the famous Gran Via or on other streets in the center at a price of 3500-4000 euros per square meter.
How to buy apartments in Madrid: The procedure and nuances of investing
The main reasons for investing in apartments in Madrid are:
- a large influx of people who want to live and work in the city. Madrid is one of the most visited European cities, it is not only about developed tourism industry, but also business activity (there are many headquarters of local and multinational companies);
- The secondary market has been under growth for several years. This means that now investors have the opportunity to purchase an apartment at an affordable price, which will increase significantly in the near future;
- Demand for rental apartments in Madrid has grown so much that owners often find tenants in a matter of days. In the central part of the city there was always a high demand for housing, but gradually it also began to grow in apartments in peripheral areas. This leads to an increase in rental prices, and consequently, to an increase in investor income.
In order to buy housing in Madrid, you need to get a NIE (foreigner identification number), open an account with a Spanish bank, check the status of an object (for debts and encumbrances) and sign a housing booking agreement. After the above actions, you can sign the contract of sale. GEOLN experts will help you choose the perfect apartment and get high-quality professional assistance at all stages of the contract. The acquisition and sale of apartments in Madrid is carried out by professionals who provide the preparation of the necessary documents, the comprehensive execution of transactions.
Buying an apartment in Madrid is a profitable investment that guarantees high income from renting, the ability to live and do business in one of the most beautiful capitals not only in Europe, but in the world.