If you wish to settle in Madrid, it is important to inquire on its rental market beforehand. But the Spanish capital city has many attractive neighborhoods.
Madrid, the Spanish capital city, welcomes thousands of expatriates from across the globe every year. This city has been attracting large numbers of visitors not only for its cultural and historical richness but also for the career opportunities which are available there. So if you have decided to settle in Madrid, finding accommodation will be one of your priorities even before moving to Spain. But this should not be difficult since the city has a variety of accommodation for all tastes, namely apartments, studios, houses, etc.
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Madrid is known to be the most densely populated Spanish city with about 3,2 million inhabitants in 2013, including a large number of expatriates from European Union countries and other parts of the world.
Madrid is divided into 21 districts, namely Central, Arganzuela, Retiro, Salamanca, Chamartin, Tetuan, Chamberi Fuencarral, Latina, among others. These districts are divided into 129 districts, including Palacio Embajadores Cortes, Universidad Sol, Goya, Lucero, El Viso, Rios Rosas, etc. Some of these are industrial and commercial areas, while others are primarily residential areas. Madrid's most popular neighborhoods are Sol, La Latina, Lavapies and Chueca.
Moncloa and Argüelles, which are found in the North of Madrid, mainly host students while Sol and Huertas and Goya are known to be the tourist areas. Latina, for its part, is famous for its architecture, as well as its markets and commercial streets. Lavapies is a multicultural neighborhood where you can enjoy the region’s artistic and gastronomic heritage. In fact, you will find many bars, pubs and restaurants. However, safety issues often arise there.
As for Malsana, it abounds of department stores, malls and fashion boutiques, bars, restaurants, as well as a range of modern housing. In Madrid de las Austrias, you are likely to find colonial buildings and elegant and luxurious homes.
Rent prices in Madrid are quite high compared to other Spanish cities. These obviously vary according to the different neighborhoods, types of housing and comfort level. Thus, you will need an average of € 1,500 per month to rent a two-bedroom apartment. For a three-bedroom apartment, you will need some € 2,000 monthly. To rent a four-bedroom apartment you, count some € 2,500 per month.
Students may opt for room sharing or flat sharing. This should cost some € 400 to € 550 monthly. You can also rent a studio for an average of 700 € per month.
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Note that short term rental prices can increase by 20-50%. Hence, long term rental is recommended unless you are making a short stay in Madrid. In this case, you could stay in a hotel or a in an apart-hotel.