Essentials
- City
- Madrid, Community of Madrid, Spain
- Population
- 3,300,000 (Metropolitan: 6.7 million)
- Internet Speed
- Average 200-600 Mbps (Fiber optic is standard)
- Currency & Banking
- Euro (EUR). 1 EUR ≈ 1.09 USD. Major banks: Santander, BBVA, CaixaBank
- Tap Water
- Drinkable (Highly rated, sourced from Sierra de Guadarrama)
- Power
- 230V, 50Hz, 🔌 Type C/F sockets
- SIM Card
- Movistar, Vodafone, Orange, Orange (Pay-as-you-go: ~€15-20 for 50GB)
- Banking for Expats
- Revolut (Spanish IBAN), N26, Santander One
- Accommodation
- Idealista, Fotocasa, Badi (for rooms)
- Cashless Friendly
- Yes, cards/Apple Pay accepted almost everywhere, including markets
- Short Term Rentals
- Airbnb, Spotahome (~€1,200 - €2,000/month for 1BR solar)
- Budget Accommodation
- The Hat Madrid (Plaza Mayor), Sungate One hostel (~€35-50/night)
- Best Area to Stay for Tourists
- Sol, Gran Vía, Barrio de las Letras
- Best Area to Stay for Digital Nomads
- Malasaña (hip/central), Chamberí (residential/authentic), La Latina (social)
Working and Networking
- Best Coworking Space
- The Shed Co (Calle de Hermosilla 48, ~€210/month), Impact Hub (Piamonte 23)
- Best Cafe for Work
- HanSo Cafe (Malasaña), Federal Café (Conde Duque), La Bicicleta
- Networking Events
- Madrid Startups Meetup, South Summit (Annual tech conference)
- Social Events for Expats
- Citylife Madrid, Madrid Urban Vibes, Intercambio Language Exchange at Beer Station
Transportation
- Best Taxi/Ride App
- FreeNow (Official Taxis), Cabify, Uber
- Bike/Scooter Rental
- BiciMAD (Electric city bikes, ~€2/hour), Lime scooters
- Best Beach Nearby
- Valencia (Malvarrosa Beach, 1h 40m via AVE High Speed Train)
- Top Regional Airline
- Air Europa, Vueling
- Top International Airline
- Iberia (Hub at Barajas T4)
- Highway Access
- M-30 (Internal ring), M-40 (Outer ring), A-1 to A-6 radial highways
- Main Train/Transit Hub
- Atocha Station (Southbound/High Speed), Chamartín (Northbound)
- Public Transport Passes
- Tarjeta Multi (Monthly pass Zone A: ~€54.60; Youth <26: €20 flat)
- Regional Travel
- Cercanías (Commuter rail), ALSA Bus, AVE/OUIGO/Iryo trains
Health and Wellness
- Best Hospital
- Hospital Universitario La Paz, Hospital Clínico San Carlos
- Yoga & Wellness Centers
- El Horno de Papel (Malasaña), Zunray Yoga, Gong Yoga (Chamberí)
- Gyms & Fitness Centers
- Basic-Fit (~€25/mo), VivaGym, Holiday Gym, Reebok Sports Club (Premium)
- Laundry Services
- Fresh Laundry, Bloomest (Calle de Fuencarral 122)
Food and Drink
- Best Food Delivery App
- Glovo (Market leader), UberEats, JustEat
- Best Local Dish to Try
- Cocido Madrileño (Chickpea stew), Bocadillo de Calamares (Squid sandwich)
- Vegan/Vegetarian Options
- Vega (Calle de la Luna), Bunny's Deli, Mudrá
- Best Dessert Spots
- Chocolatería San Ginés (Churros), La Mallorquina (Pastries)
- Affordable Shopping Spots
- Mercado de la Cebada, Mercadona, Lidl
- E-commerce/Online Store
- Amazon.es, El Corte Inglés, PC Componentes
- Grocery Delivery
- Getir, Amazon Fresh, Mercadona App
- Bar/Nightlife Area
- Chueca (LGBTQ+), Malasaña (Alternative), Ponzano (Trendy tapas)
- Local Brewery
- Mahou (Factory in Alovera), Fábrica Maravillas (Microbrewery Malasaña)
- Wine Bars
- Angelita Madrid, La Fisna (Lavapiés), Viniology
- Street Food Stalls
- Mercado de San Miguel (High-end), Mercado de San Antón
- Popular International Cuisine
- Tiki Taco (Mexican), Takos al Pastor, StreetXO (Fusion)
Culture and Attractions
- Must-See Landmarks
- Royal Palace, Plaza Mayor, Puerta del Sol
- Museums & Art Venues
- Prado Museum, Reina Sofía, Thyssen-Bornemisza
- Historical Sites
- Temple of Debod, Templo de San Francisco el Grande
- Religious Sites
- Almudena Cathedral, Basilica of San Miguel
- Annual Events
- San Isidro (May), Mad Cool Festival (July), Madrid Pride (June/July)
- Cultural Districts
- Barrio de las Letras (Literary Quarter), Lavapiés (Multicultural)
- Theater Venues
- Teatro Real (Opera), Teatro Calderón (Musicals)
- Local Markets
- El Rastro (Sunday flea market), Mercado de Motores (Monthly)
- Music Scene
- Café Central (Jazz), Sala Riviera, Joy Eslava
- Street Art
- Esta es una Plaza (Lavapiés), Muros Tabacalera area
- Cooking Classes
- Cooking Point (Calle de Moratín 11)
- Art Galleries
- Doctor Fourquet Street galleries, CaixaForum
- Historic Buildings
- Palacio de Cibeles (City Hall), Edificio Metrópolis
- Local Heritage
- The Bear and the Strawberry Tree (El Oso y el Madroño) at Sol
Nature and Outdoor Activities
- Nearby Nature Escapes
- Casa de Campo (Massive urban park), El Pardo
- National Parks Nearby
- Sierra de Guadarrama National Park (1 hour by train)
- Cycling/Walking Paths
- Madrid Río (Parks along the Manzanares river)
- Scenic Viewpoints
- Círculo de Bellas Artes Rooftop, Faro de Moncloa
- Birdwatching Locations
- Parque del Oeste, Polvoranca Park
- Bonfire-Friendly Spots
- Generally prohibited; designated BBQ areas in 'La Jarosa' (outskirts)
Other Services and Amenities
- Parcel Delivery Service
- Correos, SEUR, Packlink
- Tech Repair Services
- Apple Puerta del Sol, MediaMarkt (Castellana)
- Table Tennis Spots
- Parque del Retiro (Public tables), Rolling Dance & Burger
- Language Classes
- LAE Madrid, Inhispania, Cronopios Idiomas
- Libraries & Study Spots
- Biblioteca Nacional, Biblioteca Iván de Vargas
- Community Centers
- Matadero Madrid (Art/Culture center), Conde Duque
- Gaming Lounges
- Elite Gaming Center Madrid (Calle de Ferraz)
- Casino & Gaming Halls
- Casino Gran Vía, Casino de Madrid
Business
- Studio Purchase Price (City Center)
- Approx. €6,500 per m² (e.g., 35 m² = €227,500)
- Studio Purchase Price (Outside City)
- Approx. €3,200 per m² (e.g., 35 m² = €112,000)
- 1-Bedroom Purchase Price (City Center)
- Approx. €6,000 per m² (e.g., 55 m² = €330,000)
- 1-Bedroom Purchase Price (Outside City)
- Approx. €2,900 per m² (e.g., 55 m² = €159,500)
- 2-Bedroom Purchase Price (City Center)
- Approx. €5,800 per m² (e.g., 85 m² = €493,000)
- 2-Bedroom Purchase Price (Outside City)
- Approx. €2,700 per m² (e.g., 85 m² = €229,500)
- Corporate Tax
- 25% (General rate)
- Dividend Withholding Tax
- 19% - 26% for residents; 19% for EU/EEA residents
- Tax System
- Spanish residents taxed on worldwide income; Beckham Law exception possible
- Highest Income Tax Bracket
- 45% - 47% (varies by autonomous community)
- VAT
- 21% (Standard), 10% (Reduced - restaurants/health), 4% (Super-reduced)
- Controlled Foreign Company (CFC) Rules
- Yes, strict transparency rules (Transparencia Fiscal Internacional)
- Property Tax
- IBI (Impuesto sobre Bienes Inmuebles), ~0.4% - 1.1% of cadastral value annually
- Property Transaction Tax
- ITP: 6% in Madrid (Resale); VAT: 10% (New builds)
- Attractive Tax System for Digital Nomads
- Digital Nomad Visa (24% fixed tax rate on Spanish income up to €600k for 5 years)