Apartments and flats for sale in Madrid

Apartment in Madrid for a residency permit

You can find apartments in Madrid for investment that provide residency in Spain through the CBI programme. Professional assistance with the legalisation process is essential and we guide clients through each stage, including presenting promising listings from reputable agents and developers. Both primary and secondary market options are available, allowing you to choose the best property in Spain for relocation, short-term rentals or long-term capital investment.

Choosing the right neighbourhood is essential when buying an apartment in Madrid, Spain. The city centre, especially areas like Malasaña and La Latina, offers a vibrant mix of offices, shops, restaurants, bars and nightclubs. Expats often prefer quieter, safer residential communities such as Salamanca and Tetuán, as well as Chamartín, Hortaleza, Moncloa and Retiro. Families relocating with children should also consider proximity to schools, kindergartens, colleges and universities.

Prices for homes in Madrid start at EUR 80,000 and can reach up to EUR 11 million, with apartments starting at a minimum size of 24 square metres. Although exclusive projects may have higher prices, the steady demand from renters can help offset these costs if you plan to lease the apartment.

Residence permit in Spain by buying an apartment in Madrid

Spain’s residency programme for property buyers has been in place for several years, with relatively flexible requirements for applicants. To qualify for a residence permit in Spain, you must:

• Be of legal age;
• Have no criminal record within the last five years;
• Hold a valid passport;
• Demonstrate financial stability, with a bank account showing funds equivalent to four times the minimum cost of living in Spain, plus EUR 7,200 per dependent included in the application;
• Obtain health insurance;
• Apply for a Spanish tax number (NIE);
• Pay the necessary fees and taxes. Note that, in addition to the price of an apartment for sale in Madrid, legal fees and mandatory charges can add 6% to 11.5%, with a further 1% of the property cost allocated to the notary.

For the residency application, only the apartment prices in Madrid are considered, excluding additional expenses; therefore, the investment itself must total at least EUR 500,000. The application must be submitted in person. After submitting the required documents, you may wait 20 to 60 days to receive a three-year temporary residency card, which can be renewed. Permanent residency becomes available after five years, with eligibility for Spanish citizenship after ten.

Investment apartment in Madrid

Spain's capital is a consistent draw for investors, offering stable returns and manageable costs. Each year, prices of apartments and flats in Madrid increase by approximately 5-7%, with the average transaction around EUR 390,000. Rental demand continues to rise, supported by a moderate property tax rate (0.4-1.1% annually), which enhances potential for quick returns. Annual rental yields can reach up to 10%, with an average rate of 5.85%, depending on property features and location.

Key benefits include:

• Growing availability of new developments;
• High-yield listings across various districts, on both primary and secondary markets;
• The option to vacation in Spain without hotel costs while earning passive income from rentals;
• Reliable property management companies to handle maintenance and tenant search;
• A wide range of tourist and expat-friendly locations;
• Government protection of foreign property ownership rights;
• Residency processing within six months.