# Where to buy near Madrid



## mextraveler (Feb 3, 2009)

I´m a non EU citizen looking for properties to invest the required amount for a resident Visa.

Prices in Madrid (and in Spain in general) are going up.

Is there a suburb or neighborhood in or near Madrid that is still affordable?

Or maybe a neighboring town?


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## Pesky Wesky (May 10, 2009)

mextraveler said:


> I´m a non EU citizen looking for properties to invest the required amount for a resident Visa.
> 
> Prices in Madrid (and in Spain in general) are going up.
> 
> ...


I don't know how much you need to invest, and "affordable" is very subjective, but I can give you the names of areas around Madrid that are not particularly up market and where you can possibly find properties of all prices...
For example Mostoles, Getafe, San Sebastian de Los Reyes, Torrejón de Ardoz, Rivas Vaciamadrid. Anywhere nearer (Aravaca, Majadahonda...) and with a train station will be more expensive I suppose like in other countries. As you have already noticed prices are rising, and there is likely to be another slump when the bubble bursts


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## xabiaxica (Jun 23, 2009)

Pesky Wesky said:


> I don't know how much you need to invest, and "affordable" is very subjective, but I can give you the names of areas around Madrid that are not particularly up market and where you can possibly find properties of all prices...
> For example Mostoles, Getafe, San Sebastian de Los Reyes, Torrejón de Ardoz, Rivas Vaciamadrid. Anywhere nearer (Aravaca, Majadahonda...) and with a train station will be more expensive I suppose like in other countries. As you have already noticed prices are rising, and there is likely to be another slump when the bubble bursts


For a property investment visa it needs to be 500,000€ minimum, cash purchase.


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## Pesky Wesky (May 10, 2009)

xabiachica said:


> For a property investment visa it needs to be 500,000€ minimum, cash purchase.


Hmmm, that's what I thought, so the OP should be looking at buying several low end properties or one very nice in the middle/ upper range.
I live near Madrid and you could buy my house at least twice over for 500'00€!!


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## mextraveler (Feb 3, 2009)

Pesky Wesky said:


> Hmmm, that's what I thought, so the OP should be looking at buying several low end properties or one very nice in the middle/ upper range.
> I live near Madrid and you could buy my house at least twice over for 500'00€!!


Yes, that´s the idea. Hopefully two low end properties and one middle range property. This is
possible in a small town near Madrid or a suburb. 

But we´re not sure about some of the areas mentioned in this thread, for example Mostoles
or Getafe.

Any towns near Madrid that you can recommend? or suburbs?


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## Chopera (Apr 22, 2013)

I guess if you want to buy a couple of properties for around €100k each to rent out long term, then Moratalaz might be worth a look. Or if you want to do holiday lets in a more central location then perhaps parts of Arganzuela, but that would probably have to be one property for €200k.
Generally the north of Madrid tends to be more upmarket, but of course you get less for your money. Really there are so many towns, suburbs, etc that it´s difficult to be precise.


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## Pesky Wesky (May 10, 2009)

mextraveler said:


> Yes, that´s the idea. Hopefully two low end properties and one middle range property. This is
> possible in a small town near Madrid or a suburb.
> 
> But we´re not sure about some of the areas mentioned in this thread, for example Mostoles
> ...


Mostoles etc *are* towns near Madrid. Just suss out the names on the thread. For more expensive properties just look nearer to Madrid and/ or look at a cercanias train station map


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## Overandout (Nov 10, 2012)

If it is for investment* I would suggest that you avoid surrounding towns and buy in a suburb which still belongs to Madrid, i.e. the Ayuntamiento.

There are still affordable properties just outside the M30, which probably* will rise in value as the town centre areas become untouchable.

My personal choice is the south / south-west of Madrid, areas like the district of Latina where I live have very good public transport and are in easy reach of the center by Metro or bus, making them attractive to Madrid workers and are currently outside of the parking / driving restrictions making it a lot more comfortable for car owners. The down-side, if you see it like that, is that these areas were developed for migrating families in the 80s, so the properties are becoming a little aged and are mostly apartments, very few houses. If you want a house /chalet maybe my advice is not relevant as these are more usually further out.

*Note however that return on investment in Spain for any property is not guaranteed, as you will be aware, hopefully, Spain has a very volatile property market which suffers cyclic peaks and troughs which can vary prices and values by by -60% to + 120% easily within short time periods (think 3 years to lose over 50% of a property value in the last "crash").


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## Pesky Wesky (May 10, 2009)

Overandout said:


> If it is for investment* I would suggest that you avoid surrounding towns and buy in a suburb which still belongs to Madrid, i.e. the Ayuntamiento.
> 
> There are still affordable properties just outside the M30, which probably* will rise in value as the town centre areas become untouchable.
> 
> ...


Agree with much that you say, but not sure why you think that the OP would be better looking at properties within the city. Nearby towns and villages are always popular places to be based especially if transport links are good, and prices are inevitably better
Ps How about Pitis and Montecarmelo?


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## Overandout (Nov 10, 2012)

Pesky Wesky said:


> Agree with much that you say, but not sure why you think that the OP would be better looking at properties within the city. Nearby towns and villages are always popular places to be based especially if transport links are good, and prices are inevitably better
> Ps How about Pitis and Montecarmelo?


My thoughts are based on the widely predicted, or even the currently ongoing "exodus" of people from the town centre due to the pricing and availability problems. These are people with a desire to live inside Madrid, Madrid and maybe due to snobbery, tradition or simple bloody-mindedness, these residents do not generally want to move to outlying municipalities. This is why, amongst other reasons, areas like the A5 Extremadura Road is to be downgraded from highway to "street" status with trees, pedestrian crossings, 50 km/h limits; to make those areas more like a residential expansion of the town centre.

There is nothing wrong with outlying towns IMHO, but I don't think that they have the same "investment" potential as the suburbs immediately outside the M30.

Just my 2 cents worth!!


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## Chopera (Apr 22, 2013)

Pesky Wesky said:


> ...
> Ps How about Pitis and Montecarmelo?


I doubt you'll find much for less than 500k in those areas.


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