Five reasons to move to Madrid

Madrid might just be the best place to relocate to if you want to achieve a high quality of life. Known for its vibrant culture, incredible history, and world-class dining and entertainment, Madrid is a city that has something for everyone. The Financial Times even described the capital city as a “European dream” thanks to the lifestyle, beauty and warm autumn sun.
 
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.

Given how much urban professionals spend time commuting, access to quality public transportation is of great importance when choosing a place to live. It so happens that Madrid's public transportation system, comprising of a widely covering metro system, light trains and day-and-night bus routes, is considered one of the best in 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€.

Not only does Madrid offer the local Spanish favorites, but also houses an incredibly wide international restaurant offering. Spain is also recognized worldwide for its quality wines that are cheaper in Madrid than when imported cross-borders. Enjoy tapas at a ambient street corner or visit the renowned rooftop bars along Gran Vía, Madrid has you covered.

Madrid is considered the perfect mix of historic and metropolitan ambience, having been founded over 1,000 years ago. Visit historic sites like The Royal Palace, The Temple of Debod, Plaza Mayor or enjoy a walk in the modern public gardens and parks. Explore the beautiful historic architecture or attend art exhibitions and culture festivals. Your calendar is sure to be packed with fun activities when living in Madrid.

The one negative trait often surfacing when assessing Madrid as a city to live in are the rental prices that average at around 1,000€ per month. To circumvent this, you could consider buying your own place from the get-go.

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.

If you're thinking about relocating to Madrid, now is the perfect time to do so...

In recent years, Madrid has become a popular destination for digital nomads, thanks to its friendly Visa policies.
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.

It so happens that Madrid is an incredibly international city and houses the highest numbers in Europe when it comes to young professionals living there. Once relocated, you should feel safe in knowing that it won't take long before you can connect with your fellow expats.

When relocating, buying a property and getting a local mortgage might often be the best option. To do that, you should carefully consider the mortgage requirements and consider working with an experienced expert to ensure a smooth and successful property buying experience. If you are interested in knowing how to get a mortgage in to buy a property in Madrid from abroad, you can find more information here.

If this sparked your interest in finding a property in Madrid and getting a mortgage in Spain, get in touch with our team to get the process started swiftly.