Madrid preview

Spain

When compared to the average salaries earned by Madrileños, the cost of living in the Spanish capital is quite high. In some of Spain’s smaller cities, cost of living is still quite affordable, but the country’s major metropolises are seeing annual increases in their costs of living.

As with most Spanish cities, the majority of Madrid’s housing is made up of apartment buildings between three and six stories high. Houses, or “chalets,” as they are called in Spain, are not very common within the city limits, and the few enclaves that you’ll find are generally expensive for both rent and purchase (upwards of 1 million euros to buy).

Madrid’s real estate market is one of the most bloated in the country. Purchasing an apartment for under $200,000 euros in …