Read this article to learn the best neighborhoods for professionals temporarily relocated to Madrid and what you can expect to pay, renting medium term.
If I am temporarily relocated to Madrid, where can I expect to work?
Most of the businesses in Madrid are located north of the Center, in Chamartín. The majority of these are focused around the stretch of Paseo Castellana de la Castellana that runs north from Plaza Castilla to Cuatro Torres, which are the four tallest buildings in Madrid. They are home to a number of big international businesses, like KPMG, PWC and Repsol and to a number of embassies, including the UK Embassy. One of the buildings, Torre Cepsa, was designed by Lord Foster.
Technically, Chamartín is a large neighborhood. It is north of Salamanca and runs to the train station Chamartín.
Is Chamartín one of the best neighborhoods for professionals temporarily relocated to Madrid?
Yes, it is. Although busy during the day, most people commute in from other neighborhoods so it is relatively quiet at night. However, the business community has attracted excellent restaurants to the neighborhood. If you like to shop, there is “power” shopping around Nuevos Ministerios. It lacks the small boutiques of Salamanca and Almagro but has most of the big international brands.
This lovely apartment is located in Chamartín, in Bernebéu
Is it expensive?
Not particularly. Although property prices in Chamartín have trended up in recent years, putting it almost on par with pricing in Chamberí, rental prices are still reasonable. This is because many Madrileños choose to buy property here, rather than rent.
What if I don’t want to live in a business district?
Although walking to work certainly has its appeal, many people prefer to live in a more traditionally residential neighborhood just a short Metro or bus ride away. If this is true, we recommend looking in Tetuán or Chamberí.
Tetuán
As you can see in the map above, Tetuán sits directly to the west of Chamartín. It has been slower to gentrify than parts of Chamberí, which lies to the south. If you do not want to spend a lot of money, but want to live in a residential neighborhood a short commute from your office, it is an excellent choice.
In general, we recommend you look to the east of the street Bravo Murillo, in Cuatros Caminos.
Note, though, that since this neighborhood is still relatively ungentrified, the apartment stock is of lower quality than you will find in neighboring Chamberí. Thus you will likely have to look at more apartments before you find something appealing.
Are you a professional temporarily relocated to Madrid and don’t have time to look for a rental apartment? If so, arrange a FREE CONSULTATION with our rental partner today.
The neighborhood of Tetuán lies directly to the west of Chamartín.
Chamberí
If you don’t mind spending a little more on monthly rent, Chamberí is arguably the best neighborhood for professionals temporarily relocated to Madrid. It is an easy commute to the central business district on Metro Line 1, or even by bus.
The very premium parts of Chamberí lie further to the south. Almagro is a gem of a neighborhood that feels more like Paris than Madrid. It is filled with chic boutiques and interesting restaurants. The architecture is beautiful. Trafalgar is less posh, but popular with many expats and you can find quite a nice apartment here. Ríos Rosas has more of a traditional feel, but many young professionals are moving in.
The neighborhood of Chamberí lies to the south of the Central Business District of Madrid.
What kind of prices can I expect to pay?
You need to keep in mind that many landlords do not want to rent their apartments for only a few months. As in many markets, they prefer to sign year long contracts to maximize vacancy rates and minimize tenant search and legal costs. It is possible to find shorter term rentals, but expect to pay up to 50% more than rents you see listed for yearly contracts.
If you are a professional temporarily relocated to Madrid and need help finding an apartment, we recommend you arrange a FREE CONSULTATION with our rental partner today.