What are the best neighborhoods in Madrid for property investment?

 

Situated approximately centrally in Spain, and with a climate that sees warm weather for most of the year, Madrid is ideal for both a visit, to work in, and to invest in property. If you are thinking of investing in property in Madrid, some neighborhoods are better than others.  Let’s have a look at the best areas for property investment in Madrid, and specifically, Madrid property for sale.

Madrid is the central capital of Spain. It has beautiful boulevards and large, well-kept parks like the Buen Retiro. It is known for having a lot of European art, like the works by Goya, Velázquez, and other Spanish masters in the Prado Museum. The city sees around 6 million tourists per year, and with the growth of websites such as Airbnb, owning property in the city has the potential to make money.  Property investment sale is hot in Madrid right now, but it is always easier to buy with an established relocation company.

Even if you didn’t want to rent a property out, owning a living space in Madrid is always going to be an investment and is almost guaranteed to make you money.  But the kind of profit that you can make – either as an investment or as a rental property – will depend upon the location.  Some neighborhoods are better than others for property in Spain sale, but that is usually reflected in the purchase price.

So, what are the best neighborhoods to invest in Madrid property and find Madrid property for sale?

Top-end Madrid properties.

Salamanca. Starting right at the very top, this is one of the most desirable neighborhoods in Madrid. Salamanca begins east of the Castellana, which is Madrid’s main north-south line, and north of the Retiro area, which is Madrid’s main park. With metro lines 2, 4, and 5, it takes less than 20 minutes to get to either the city center or the Retiro. Salamanca is the most expensive area to buy a home in, even more so than the center of Madrid. It costs around 17 € per square meter to rent and 5,000–6,000 € per square meter to buy a home there.  If you buy a property investment sale in the Salamanca region, you are assured of making a profit. This is a great place to look for property for sale in Madrid.

Alonsa Martinez. Located a little to the east of Salamanca and around the pleasant park of the same name, Alonso Martinez is attractive and well thought of.  Home to many of the city’s professional lawyers, bankers, and politicians, this historic area attracts rental prices similar to Salamanca, but has many properties that sell for less, at around 4,000 to 5,000 € per square meter.  With an almost village feel to it, if you can afford it, Alonso Martinez is a great place to consider a luxury property for sale on Spain.

Gran Via. A small area of the central Sol neighborhood, Gran Via is right at the center of the city’s bustling restaurant and nightlife scene.  Because it can get a little loud at times – remember, the Madrid nightlife kicks off at around midnight and doesn’t draw to a close until about dawn – many people prefer to live a bit further out. As with many traditional areas of Madrid, properties can be a little smaller since they are slotted into existing buildings.  That said, property in Sol and Gran Via can attract rental values of 16 € per square meter and around 4,000 € per square meter for purchase.  Some can become much more expensive though, so it’s best to do your research first with Moving2Madrid, Madrid real estate.

Mid-priced Madrid properties.

If you don’t mind being a bit further out to find property in Spain sale, there are plenty of good houses and property for sale in Madrid Spain.  These neighborhoods include:

Chueca. Regarded as a village within a city, Chueca is very trendy, but that doesn’t mean that property prices are excessive.  Once again, its very party atmosphere tends to keep the locals away so there is a good amount of property available at prices similar to Gran Via and Sol. This is an ideal area to look at if you are hoping to invest in a buy-to-let or Airbnb as you are likely to have many takers for it, particularly during the summer season and the Pride celebrations.   If you love stepping outside to trendy bars and good local restaurants, then Chueca could be your perfect spot for property for sale on Spain.

Affordable Madrid property areas.

Nuevos Ministerios & Chamartín. Slightly further out form the center, but still not too far from the vibrant center, Nuevos Ministerios & Chamartín are seen as being a lot more residential and business-orientated.  These two neighborhoods always have a good number of property in Spain sale in Madrid and have budgets to match almost everyone’s pocket.  Property in these areas tends to rent for around 12 € per square meter and sell for about 3,000 € per square meter. The Nuevos Ministerios & Chamartín area is close to several public transport lines and is regarded as being a great place to live in this exciting city.

Lavapies. This neighborhood is known as being the coolest area in Madrid, and is an easy journey from the city center. Lavapies begins just south of the center of Madrid at the Tirso de Molina Square, which is the beginning of this neighborhood and goes south to the Embajadores metro stop. Here, you will find property prices are a good 10-20% cheaper than the average Madrid real estate price per square meter, in terms of both renting and buying.

 

Property investment sale in Spain doesn’t come much better than those you will find in Madrid. If you are looking to invest in property then this city has plenty to offer and at a pretty affordable price if you shop around.  Employing a Madrid relocation company like Moving2Madrid can take all the pressure off finding your ideal property in Spain. A professional relocation company, Moving2Madrid can help with all the essentials of moving as well as legal documentation, connecting to utilities, and schooling your children.

Posted on 1 March, 2019 by Pierre-Alban Waters in Invest - How to invest - Buy, New? Start Here