Apartment in Madrid, as we have discussed in other articles, can be a great investment. But don´t get me wrong, not any apartment would make it. It is still a buyer´s market and sellers have some difficulties to sell. But mots buyers know what they want, and believe me they know what they don´t want…..
Lets check what many buyers are looking for in a city like Madrid:
- Central location, in a good area
- Efficient size. Not too big,
- Good light
- At a good price to be remodeled
- Walking distance to amenities
- City attractions will be a plus
A central location will add value to your investment. The demand is higher in these areas, and if prices start raising they will do it there first. It also affects the possible rent price, in case you want to make some money from your investment.
As buyers prefer a better location than a bigger apartment , it make sense that they prefer a one or two bedroom rather than a bigger apartment. It is easier to sell, and easier to rent these days.
Interior light is getting more important every day. Old apartments where dark. These days we love big windows and natural light. So if possible try do find that or when remodeling try to get as much natural light inside as possible.
The apartment at the end should look modern, so either we buy it done or we have to update it. Consider the remodeling price before making an offer, because it is not cheap to fix and update an entire apartment. But it is worth both for resale or rent.
Walking distance to amenities is very important, the reason people love an apartment in the center is because they can walk everywhere. Consider what is around the apartment, bars, banks, schools, shops……
And if your idea is to rent the apartment to tourists, it would be great to have a city attraction close by. It can be museum or a famous street. Consider this as well when buying an apartment in Madrid
Cristian de la Torre