Cost of Living in Madrid

Why Do You Need to Buy a House in 2022?

Madrid is the capital and one of the most important cities of Spain. As a mixture of culture, history, fashion, quality, nature, and modernity, the values that Madrid possesses and provides are endless. Manages to give only the best it has in a unique way special to it, Madrid receives a countless number of visitors each year. A dream city for many people across the globe, many people wish to reside and enjoy the best aspects of the city. With valuable investment opportunities, effective governance, and welcoming folk, Madrid sure is a great city to live in. Along with its qualities, the cost of living is relatively low compared with many other primary metropolitans all across the globe. 

Average Costs

Madrid has a moderately low cost of living, even though it is one of the most expensive ones in Spain. This highly alive and vibrant city comes with countless activities and locations such as concerts, museums, bars, restaurants, and most importantly, malls. Even though the general cost of living in Madrid is relatively cheaper than many other European cities, there are so many things that you could easily spend your money on. While the average monthly needed money for a student to enjoy the best of the city is considered to be around 1000 euros per month, the monthly cost of a family of four in Madrid is around 2400 euros without rent. 

Cost of Healthcare

Healthcare that Spain provides for its international residents is quite affordable and advantageous. You could easily have private health insurance if you desire to stay in Madrid for a longer period.

Prices of Rent and Accommodation

Pricing of properties and rent highly differs from location to location in Madrid. While some remote neighborhoods have extremely high pricing, some center locations have low pricing. As with the history and age of this city, most of the houses that surround the city are relatively old but safe and sound buildings. If you wish to live in small and newer buildings, however, prices may sometimes prove to be lower for you. The average monthly cost of rent for a one-bedroom in the center of the city is around 890 euros and 1600 euros for three bedrooms. In the outer parts of the city rent is around 670 euros for a one-bedroom and 1100 euros for three bedrooms. A large portion of renting plans doesn’t involve the fee of utilities and internet, so you’ll have to pay for those as well. 

Cost of Transportation and Daily Needs

Even though Madrid is a big city, it has a very functioning public transportation system that manages to reach many different parts of the city at ease. There’s a monthly membership for the system that only costs 4 euros, meaning that you could roam around the city easily. 

Shopping for groceries and food is quite cheap in Madrid. There are many big market brands along with small markets all around the city that you could easily make your shopping from. The average price for shopping is around 200 and 350 euros each month. With such good prices, Madrid sure is a city to live in. 


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