Madrid is one of the most popular cities in Spain and attracts a lot of attention from people who are looking to buy or rent houses. The city is known for its beautiful architecture, rich culture, and delicious food.
However, the question that arises is whether houses in Madrid are expensive or not. In this article, we will explore this topic in-depth.
Factors Affecting House Prices in Madrid
Before we dive into the prices, it’s important to understand the factors that affect house prices in Madrid. Some of these factors include location, size of the house, age of the property and its condition. Let’s take a closer look at each of these factors:
Location
The location of a property is one of the most important factors that determine its price. Houses located in prime areas such as Salamanca, Chamberi or Retiro tend to be more expensive than those located on the outskirts of Madrid.
Size
The size of a property also plays a major role in determining its price. Larger houses with more bedrooms and bathrooms tend to be more expensive than smaller ones.
Age and Condition
Older properties that require renovation tend to be cheaper than newer properties that are in excellent condition.
House Prices in Madrid
Now let’s take a look at the actual prices of houses in Madrid. According to recent data from Idealista.com, the average price per square meter for buying a house in Madrid is €3,467 (as of August 2021). However, prices can vary greatly depending on location and other factors.
If you’re looking to buy an apartment in prime areas such as Salamanca or Chamberi, you can expect to pay anywhere between €6,000-€10,000 per square meter. On the other hand, if you’re willing to live in the outskirts of Madrid, prices can be as low as €1,500 per square meter.
Conclusion
So, are houses expensive in Madrid? Well, it depends on various factors such as location, size, and condition of the property. While houses in prime areas can be quite expensive, there are still affordable options available on the outskirts of Madrid.
If you’re planning to buy a house in Madrid, it’s important to do your research and consider all the factors that can affect the price. With proper planning and research, you can find a house that fits your budget and meets your needs.