Madrid, the heart of Spain, is a city with a rich historical background. It is geographically located in the epicenter of the Iberian Peninsula, carefully preserving architectural and monumental treasures, as well as historical places that testify to its long journey through the centuries. Madrid's geographic location, on the high plateaus of central Spain, gives it a unique perspective. Flirting with the Mediterranean climate, the Spanish capital embodies a unique luxurious lifestyle, deeply diverse and culturally rich.
The Luxury Real Estate Market in Madrid
Madrid offers a solid opportunity for real estate investors thanks to its stable luxury real estate market. The current demand for luxury homes and apartments is substantially balanced with the supply available. Despite the current political-economic times, Madrid's real estate market remains strong and promises a profitable future.
Taxes and Additional Costs
Madrid sets an average real estate commission paid by both buyers and sellers. For a buyer, a transfer tax of 6-10% on the purchase price should be considered. It's important to keep in mind that there are also additional costs associated with the notary, inspections, and legal costs. As for the seller, no tax is paid on the profits made when selling a main residence, while a tax on profits for secondary residences is due. Corporate taxes and income taxes for registered residents of Madrid should also be accounted for.
Mortgage Requirements And Luxury Residential Areas
The mortgage market in Madrid is accessible, allowing buyers to obtain a mortgage of up to 60-80% of the purchase price. The most expensive and sought-after residential areas for luxury houses in Madrid are Salamanca, Chamartín, Chamberí, and Retiro.
Accessibility and Education in Madrid
The city's accessibility through roads and railways is exceptional, connecting it with all the main Spanish and European cities. Madrid also has high-quality schools, universities, and training institutions.
Life in Madrid
The province of Madrid, with a population of more than 6 million people, offers an impressive balance between nature and modernity, with a pleasant climate and a variety of outdoor activities and sports. The city boasts luxury shops, hotels, restaurants, nightlife and dream entertainment. Madrid's sophisticated lifestyle is complemented by annual events, museums, galleries, and theaters, in addition to excellent quality hospitals and clinics and a robust public infrastructure.
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