Madrid, Spain
Editor
March 12, 2023
Madrid is an ideal destination for digital nomads looking for a vibrant and exciting city to explore. With its rich culture, vibrant nightlife, and world-class cuisine, Madrid is a great place to live and work. According to the World Economic Forum, Madrid is the third most competitive city in Europe, and the sixth most competitive city in the world. The city also boasts a high quality of life, with a low cost of living and a high level of safety. Madrid is also home to a number of coworking spaces, making it easy for digital nomads to find a place to work. Additionally, Madrid is well-connected to the rest of Europe, with a number of international airports and high-speed rail links. With its vibrant culture, low cost of living, and excellent connectivity, Madrid is an ideal destination for digital nomads looking for a great place to live and work.
Living in Madrid, Spain: Overview
Overall score | Worksplorer index
-
76%
Quality of life -
43%
Cost of living -
50%
Connectivity -
85%
Weather
65
General
| Currency | EUR |
| Population (in millions) | 6.5 |
| Quality of life (world rank from 1 to 200) | 37 |
| Cost of living compared to Chicago, USA | 10% more expensive |
| Best neighborhood to stay | Salamanca, Chamberí |
Culture
| Number of museums and galleries | 150 |
| Top selling local beer | Mahou |
| Most popular local dish | Cocido |
Travel
| Most popular tourist attraction(s) | Prado Museum, Royal Palace, Plaza Mayor |
| Discount airline | Vueling |
| Major airline | Iberia Airlines |
| Largest ride sharing company | Cabify |
| Primary train stations | Atocha, Chamartín, Nuevos Ministerios |
| Primary airports | Madrid Barajas, Madrid Cuatro Vientos, Madrid Torrejon |
| Best rental car company | Europcar |
| Used car costs | 15000 EUR |
Connectivity
| Apple store addresses | Calle de Serrano, 27, 28001 Madrid, Spain |
| Internet connection (in Mbps) | 50 Mbps |
| Power socket type | C,F |
| Supply voltage | 230V |
| Best electronics store | MediaMarkt |
| Best internet carrier | Movistar |
| Primary cellular carrier | Vodafone |
| Average monthly cost for internet | 40 EUR |
Shopping
| The best drug store | Farmacias |
| Best restaurant chain | La Tagliatella |
| The best grocery store | Mercadona |
| The most popular fashion brand | Mango |
Regulatory
| GDP per capita | $37,845 / year |
| Average annual income | $35000 |
| Sales tax rate | 21% |
| Income tax rate | 24.75% |
| Tourist visa valid (in days) | 90 |
Financial
| Average mortgage rate | 2.5% |
| Suggested ATM take out | 200 EUR |
| Bank that has the most ATM machines | Santander |
| Average tip in restaurant | 12% |
| Pay using credit or debit card | Very common |
Health
| Emergency Phone Numbers | 112 (general), 091 (police), 061 (ambulance), 080 (firefighters) |
| Polution per square meter | 4,845 |
| Health quality rank (according to WHO) | 8 |
| Main religion | Catholic |
Quality of life
76%
-
70%
Safety, freedom, rights -
99%
Traffic -
94%
Property to income -
30%
Crime -
80%
Healthcare -
85%
Weather
Salaries
| Average Monthly Net Salary (After Tax) | €1,977 |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 2.49% |
Childcare
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | €489 |
| International Primary School, Yearly for 1 Child | €8,686 |
Cost of living
43%
-
Purchasing Power
87%
-
Rent
30%
-
Food
45%
-
Restaurant
54%
-
Workspace
51%
-
Transport
35%
Rent
| Apartment (1 bedroom) in City Centre Per Month | €1,013.64 |
| Apartment (1 bedroom) Outside of Centre Per Month | €788.83 |
| Apartment (3 bedrooms) in City Centre Per Month | €1,758.54 |
| Apartment (3 bedrooms) Outside of Centre Per Month | €1,263.19 |
| Tennis Court Rent (1 Hour on Weekend), Sports And Leisure | €12.59 |
Food
| Milk (regular), (1 liter) | €0.91 |
| Loaf of Fresh White Bread (500g) | €1.15 |
| Eggs (regular) (12) | €2.43 |
| Local Cheese (1kg) | €10.89 |
| Water (1.5 liter bottle) | €0.70 |
| Bottle of Wine (Mid-Range) | €5.60 |
| Domestic Beer (0.5 liter bottle) | €1.02 |
| Imported Beer (0.33 liter bottle) | €1.55 |
| Cigarettes 20 Pack (Marlboro) | €5.10 |
| Chicken Fillets (1kg) | €7.40 |
| Apples (1kg) | €2.12 |
| Oranges (1kg) | €1.76 |
| Potato (1kg) | €1.26 |
| Lettuce (1 head) | €1.05 |
| Rice (white), (1kg) | €1.27 |
| Tomato (1kg) | €1.96 |
| Banana (1kg) | €1.90 |
| Onion (1kg) | €1.37 |
| Beef Round (1kg) (or Equivalent Back Leg Red Meat) | €12.33 |
Restaurants
| Meal, Inexpensive Restaurant | €12.00 |
| Meal for 2 People, Mid-range Restaurant, Three-course | €50.00 |
| McMeal at McDonalds (or Equivalent Combo Meal) | €8.00 |
| Domestic Beer (0.5 liter draught) | €3.50 |
| Imported Beer (0.33 liter bottle) | €3.50 |
| Coke/Pepsi (0.33 liter bottle) | €2.37 |
| Water (0.33 liter bottle) | €1.66 |
| Cappuccino (regular) | €2.14 |
Connectivity
94%
Infrastructure
89/100
Internet speed
92/100
Internet cost
95/100
Pre-paid plan
98/100
Utilities (Monthly)
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment | €167.24 |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | €0.14 |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | €33.13 |
Sports
| Fitness Club, Monthly Fee for 1 Adult | €41.95 |
| Tennis Court Rent (1 Hour on Weekend) | €12.59 |
| Cinema, International Release, 1 Seat | €9.00 |
Transportation
| One-way Ticket (Local Transport) | €1.50 |
| Monthly Pass (Regular Price) | €54.60 |
| Gasoline (1 liter) | €1.87 |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | €25,188.50 |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | €24,141.67 |
| Taxi Start (Normal Tariff) | €3.50 |
| Taxi 1km (Normal Tariff) | €1.10 |
| Taxi 1hour Waiting (Normal Tariff) | €22.00 |
