Renting a flat or buying a flat in Madrid will cost you the same, according to the Ministerio De Vivienda, renting a flat will cost you an average of 11,98 EUROS per square meter a month, if you want to live in a 70 square meters flat it will cost you about 796,6 EUROS a month.

If you want to buy that same flat except 3002 EUROS per square meter, so the total for this flat is 168.112 EUROS, assuming you can get a mortgage for 80 % of the value of the flat and you have the remaining 20 % cash, it will cost about 807,63 EUROS a month with a 40 years mortgage taking into account the Euribor rate.

Renting will save you a miserable 11 EUROS so better buy in these condition at least as far as Madrid is concerned.

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