Spain’s Business Capital

Madrid is where Spain’s corporate, financial, and political power is concentrated. If your career depends on being close to decision-makers, institutional investors, or multinational headquarters, Madrid is the clear choice. The city is home to Spain’s stock exchange (BME), the headquarters of most IBEX 35 companies, and the European offices of dozens of global firms.

For expats in finance, consulting, law, or corporate roles, Madrid offers the deepest job market in Spain by a significant margin. International companies frequently hire English-speaking professionals for their Madrid offices, and salaries are the highest in the country.

Fintech and Startup Ecosystem

Madrid has established itself as Spain’s fintech capital. The city hosts major players including Revolut’s Southern European hub, N26’s Spanish operations, and homegrown successes like Bizum (Spain’s dominant P2P payment platform), Playtomic, and Jobandtalent.

The broader startup ecosystem benefits from proximity to venture capital firms, corporate innovation labs, and accelerators like Google for Startups Madrid, Wayra (Telefonica’s startup hub), and South Summit, one of Europe’s largest startup conferences held annually in Madrid.

Coworking options are abundant: WeWork (multiple locations), Impact Hub Madrid, Utopicus, and Google for Startups Campus (free coworking for selected startups) all serve the entrepreneurial community.

Cost of Living

Madrid is more expensive than most Spanish cities but remains affordable compared to London, Paris, or Amsterdam.

Expense	Monthly Cost (EUR)
1-bedroom apartment (city center)	1,000 - 1,400
1-bedroom apartment (outside center)	750 - 1,000
Utilities (electricity, water, gas, heating, internet)	130 - 180
Groceries	270 - 370
Dining out (lunch menu del dia)	13 - 16
Public transport (monthly Abono)	55
Coworking space	200 - 350

A single professional can live comfortably on EUR 2,200-2,800 per month. Couples should budget EUR 3,000-4,000 depending on neighborhood and lifestyle.

Neighborhoods

Malasana: The hipster heart of Madrid — vintage shops, craft beer bars, independent bookstores, and a young, creative energy. Central location near Gran Via. Popular with younger expats. Rent: EUR 1,000-1,300 for a one-bedroom.

Chueca: Adjacent to Malasana, historically Madrid’s LGBTQ+ neighborhood and now one of the city’s most vibrant areas. Excellent restaurants, boutique shopping, and nightlife. Rent: EUR 1,100-1,400.

Salamanca: Madrid’s upscale district — wide boulevards, luxury shopping on Calle Serrano, elegant architecture. Popular with families and professionals who want a polished, quieter environment. The most expensive neighborhood. Rent: EUR 1,300-1,800.

Lavapies: Madrid’s most diverse and multicultural neighborhood. Authentic, gritty, and full of character — international food, independent art spaces, and a strong community feel. The most affordable central neighborhood. Rent: EUR 800-1,100.

Chamberi: A residential neighborhood with a village-within-a-city feel. Tree-lined streets, traditional tapas bars, local markets, and families. Less tourist traffic than the center. Excellent for those who want a quieter daily life with easy metro access to everything. Rent: EUR 1,000-1,300.

Chamberi/Arguelles/Moncloa area: Near the university, with parks (Parque del Oeste, Casa de Campo nearby), and a more relaxed atmosphere. Good for families and those who prioritize green space. Rent: EUR 900-1,200.

International Schools

Madrid has Spain’s largest selection of international schools. Top options include King’s College (British curriculum), American School of Madrid, International College Spain (ICS), Hastings School, and the Lycee Francais. Most are located in the northern suburbs (Las Rozas, Pozuelo, La Moraleja), which is where many expat families choose to live.

Transport

Madrid’s public transport is exceptional. The Metro system covers 300+ stations across 13 lines, and the Cercanias commuter rail connects to surrounding towns. A monthly Abono Transporte pass costs EUR 55 for Zone A (city center) and is one of the best transit bargains in Europe.

The AVE high-speed rail network puts Barcelona 2.5 hours away, Seville 2.5 hours, Valencia 1.5 hours, and Malaga 2.5 hours. Madrid-Barajas Airport (MAD) is Spain’s main international hub with direct flights to North America, Latin America, Asia, and all European capitals.

Healthcare

Madrid is home to some of Spain’s top hospitals. Public options include Hospital 12 de Octubre, Hospital La Paz, and Hospital Gregorio Maranon. Private hospitals like Hospital Quironsalud and Hospital Ruber Internacional offer English-speaking staff and shorter wait times. Private health insurance in Madrid runs EUR 60-130 per month.

Lifestyle: Pros and Cons

Why choose Madrid: Highest salaries in Spain, deepest job market, best public transport, world-class culture (Prado, Reina Sofia, Thyssen), outstanding food and nightlife, no wealth tax, central location for exploring Spain, cosmopolitan and international.

What to consider: Continental climate means genuinely cold winters (0-8C) and scorching summers (35-40C), no beach (nearest coast is 3+ hours), higher cost of living than most Spanish cities, faster pace of life than coastal cities, pollution can be an issue in summer.