Five reasons to move to Madrid
Madrid, the cultural and professional center of Spain, is an excellent place to live and work, and buying property there can be a great investment. The city is known for its vibrant culture, rich history, and beautiful architecture, making it a popular destination for both tourists and residents. When relocating to Madrid from abroad, there are a few things you should know.
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Read on to see the five reasons we think Madrid is the best Spain and Europe has to offer. Or if you have already made your choice to relocate, get in touch to get started with buying a property and getting a mortgage.
1. Great public transportation and connectivity to the rest of Europe
In addition to the city infrastructure, Madrid's connectivity to the rest of Spain and other European metropolitan cities is great. You can easily fly to any European city such as Paris, Berlin or London within hours for under 100€.
2. The food and drink offering
3. Culture, history and sights
4. Steady rise in residential property values being a great long-term investment for property buyers
It so happens that the residential housing market in Madrid witnessed an increase in value of around 12% during 2021. Naturally this immediately impacts the prices you are looking to pay when buying, but also underlines the fact that buying a property instead of renting can be a great long-term investment when moving to Madrid. The surrounding regions of the city saw an almost double digit increase in prices during 2021, but still offers much more affordable options than centrally located properties.
5. Modern Visa schemes making relocation to Madrid even easier
Relocation is about to become even better with the soon to be launch of the Digital Nomad Visa, allowing EU and EEA citizens to work in Spain for a foreign employer for at least 3 months. After the initial term of 3 months you will need to register at a local registration centre to extend your stay. Non-EU citizens still need to become employed in Spain to secure the right to reside in the country.
Other international Visa options making relocation to Madrid as a foreign citizen easier include the Spain Entrepreneur Visa, allowing you to stay in the country for at least 2 years when starting a business. In addition, members of your family can enjoy the right to stay in the country based on your secured Visa.
Finally, after having stayed for 5 years in the country you will be allowed to apply for permanent residence in Spain.