Moving2Madrid is a relocation and real estate company created by expats, for expats.
We focus on accommodation, the most important part of a relocation. But it doesn’t just stop there: we help our clients with all their other needs. This includes getting oriented in Madrid, moving in, understanding and meeting their financial and legal obligations, adaptating to Spanish culture, networking and integrating into the community, finding a school and accessing healthcare.
We enable expats to move to Madrid via a leading blog, innovative relocation products and services they can afford and relate to.
Moving2Madrid makes your move seemless, from A to Z.
Our fees are extremely simple and transparent. They are 4% of the final purchase price, payable after closing.
The Madrid real estate market can be tricky to navigate alone. Without insider knowledge it can be difficult to find the best Madrid apartments. Very few people speak English. Real estate agents are unresponsive and not to be trusted. The market is moving quickly and the purchase process is a bit different than in other countries. Combine all of this with the fact that purchasing property in any foreign country adds an additional level of complexity to any transaction and you indeed have a tricky situation. On their own it can literally take people years.
However, Moving2Madrid has inside contacts and a streamlined, tried and tested process. When you use our services, we spend a month or two creating (with your input) a short list of properties. When you visit Madrid you can see them all in a single weekend. To learn more about the process, read What to expect during your Madrid apartment buying experience.
After bottoming in the fourth quarter of 2013, data from the third quarter of 2017 shows that Spanish property prices have increased 16.9% since the low of 4Q13. It’s no cryptocurrency bubble, but some fear that prices may be peaking.
The truth is, now is an excellent time to buy. Back in 2014 the aggressive money (like Goldman and Blackrock) purchased large portfolios of Madrid real estate. However, the market was flat in 2014. It didn’t start appreciating until 2015 and there is still a lot of room for upward movement. This is particularly true of the Madrid market which is not only supply constrained, but is reaping the benefits from Brexit and the Catalan independence movement. To learn more about this, read Spanish property prices 2017: Where are we in the cycle?
First of all, you can check my credentials and recommendations as Moving2Madrid’s founder, and freelance consultant, on LinkedIn.
You can also view my posts in the #1 Expats in Madrid blog as author, or on the official HSBC blog for expats.
I am responsible for EDHEC Business School (Top 15 according to FT) in Spain – see the official website.
You can call me anytime (+34 622 691 827), and arrange a video chat so you can meet me. Remember, I am an expat myself so I faced the same issues you’re about to face.
Finding, purchasing and refurbishing real estate can be very time-consuming, even in your own country. In a foreign country you face the usual challenges, plus a very steep learning curve. Some people think they can save money and do it on their own, but the truth is our services pay for themselves when you factor in that we can help you:
To learn more, read What are the advantages of using an expert to help you buy property in Madrid?
Because we have hundreds of happy clients, and many that use our services a second or third time to purchase additional properties. These yield long-term returns that are 50-100% above those achieved by other Madrid property investors.
But don’t believe us! Here are some testimonials from our clients:
“Super-professional company, if you are looking for a property in Madrid, you won’t find (believe me – I searched a lot) a professional, bringing-value, with great and responsible persons like M2M. From formulate a decision, finding the best properties, building an investment strategy, doing tough negotiation and managing your property.” Itay Ofarim – Leumi Group, Israel
“We had a great experience with Ben and the team at Moving2Madrid. He was very attentive to our requirements and made the whole process of finding and buying an apartment in Madrid very smooth and stress-free. We love our new place and he was also able to make recommendations to help us find architects and arrange a renovation. We would certainly recommend the Moving2Madrid service!” Julie Flower – Strategy consultant, UK
“Moving2Madrid delivered, and more: not only did they find us the best house, they negotiated, helped set up Spanish bank accts, set up utility services, arranged for TV / internet to be installed and even came to a phone shop with me!” Chris Webb – Partner at Spectrum IFA Group, Singapore
The average gross return on Madrid real estate investment is roughly 4-4.5% of the property price. After accounting for both fixed and variable costs, this usually filters down to a 3-3.5% return equivalent on your long-term rental property investment.
Moving2Madrid clients typically earn returns 50-100% above average. To put this in perspective, we are able to obtain an average pre-cost return of 9-14% for our clients. After accounting for all costs, our managed properties average a post-cost, pre-tax return equivalent to 5.5-8%, after a first transition period and when we optimize the purchase for investment. With capital appreciation, and the fact that we purchase undervalued properties, we obtain the equivalent of a 6-8% net return for our portfolio.
To learn more, visit What return can I expect from my Madrid real estate investment?
It’s not a myth! If you buy property in Spain you can get a Spanish residency permit (this is the correct bureacratic terminology for Spain’s Golden Visa), which allows you and your family to live and work in Europe. It requires an investment of 500,000€ or more, which is relatively cheap. The only challenge is the paperwork, which we can help you with. Read here for details.
The good news is that Madrid real estate is some of the cheapest of any capital city in Europe.
Cheap property prices allow for long term capital appreciation on your rental property. They also allow for investors with more modest budgets to invest.
However, the prices vary greatly by neighborhood. Please read our recent Quarterly Madrid Real Estate Report for detailed information.
Yes you can! As of 2017, the best non-resident mortgage rates available are:
However, keep in mind that if you are applying for a Golden Visa, 500,000€ of the purchase funds must come from abroad. To learn more, please read How to get a mortgage as an international buyer.
Yes you do! And you need to be very careful as often real estate agencies do not stress these actions, but they are very important. If you don’t act on them you could incur fines in excess of 20.000€. In a nutshell, here is what you need to do:
To see more detail, you can visit 5 Steps to take after buying property in Madrid.
We wouldn’t call them tricks, but you can save up to 45% on your taxes if you optimize the legal structure of your investment. In many cases, if you are an EU national you can save a lot of money if you set up a special company and purchase the property through that, rather than in your own name. If you are not an EU national, you should set up a Spanish company to purchase the property, regardless. Click here to learn more about how to do this.
Madrid is a very safe city, much safer than other European capital cities such as Paris or London. For example, the ratio of policemen per citizen is the highest in the European Union.
Beware of pickpockets in tourist areas and you should be safe.
As for neighbourhoods, the city center is packed with people any time of the day or night, which means you will never feel alone.
To help you, the Moving2Madrid team has incorporated my experience and created an interactive map. It contains summaries that will help you discover the best neighborhoods in Madrid. Click on the map below to start discovering the different neighborhoods.
If you wish to live close to expat communities, I recommend specific neighbourhoods out of the city center close to international schools. For the French community, metro Canillas and Esperanza next to the “Liceo Francés.” For the British, British schools are located in posh suburbs such as la Moraleja and Pozuelo.
For property investment, first take careful stock of your budget and investment objectives. Based upon these, you will want to choose either an exclusive neighborhood such as Salamanca, an up and coming neighborhood like Chamberì or a hip and trendy neighborhood like La Latina. Read What are the best Madrid neighborhood for property investment? to learn more.
Madrid lacks high end properties. The typical Madrid apartment is in an old building. Historically, they were divided into many small rooms and were often dark and rather forbidding. The city has been late to the game, compared to other European capital cities, in embracing the light filled, open spaces that are so popular nowadays. Moreover, many Madrid apartments contain old appliances- most lack dishwashers and dryers. Bathrooms rarely have modern showers and often lack the water pressure and/or boiler capacity for a proper bath.
The numbers tell the story. For example, Madrid has only 17% of its properties rented, versus 30% in Paris, 40% in Berlin and 78% in London.
Corporate clients and wealthier tenants prefer refurbished properties with modern conveniences such as dishwashers, microwaves and even wine refrigerators. They like elegant bedrooms, extra bathrooms and open living spaces. Luxury, something sorely lacking in most Madrid rentals, increasingly rules the day.
In short, we have found that every additional 1€ our clients spend on refurbishment adds an additional 1.5€ to the value of their apartment. To learn more, read Apartments before and after our refurbishments- the Moving2Madrid effect.
Madrid is actually the best European city for Airbnb investment. This is because:
They key to finding the optimal city for an Airbnb investment is to look at the city’s existing Airbnb capacity and hotel stock.
Currently, Airbnb’s are not regulated in Madrid. However, it is a possibilty. If so the city would likely impose regulation like that in Barcelona. This is a potential advantage to early movers as we estimate that apartments in the historical center of Barcelona, with the proper licenses, gained 80,000-100,000€ in value after the legislation was implemented. For more detail, read The future of Airbnb investment in Madrid, and how to capitalize on it.
There are several international schools in Madrid. Yet, just like London and New York, available slots are hard to get. We can help you in the selection process, no matter what time of the year you relocate.
Have a look at our interactive map with the best schools for expat children in Madrid. This will enable you to see which neighbourhoods are closest to your preferred schools.
Madrid is insulated from, and stands to benefit financially from, the Catalan independence movement. Over 1,800 firms have already made plans to leave Cataluña, and the list continues to grow every day. Many of them are moving to Madrid, which will strengthen the Madrid real estate market.
Morevoer, Madrid continues to attract foreign investment and every day it becomes more tourist friendly. Concurrently, Barcelona is going in the opposite direction. It’s becoming less welcoming to tourists and increasingly expensive. It will continue to be plagued by the regional instability caused by the Catalan movement.
For more detail, read Why Catalan independence doesn’t affect the Madrid real estate market.
Pierre-Alban WATERS – Moving2Madrid Madrid
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