Case Study
Martha Moves to Madrid
Once she had chosen Madrid as the right location for her, Martha realised she needed expert help when it came to finding the right property that best matched her criteria. Language barriers, cultural differences, and navigating the complexities of the fast-moving local real estate market led her to seek the support of a property finder—and she chose us to guide her through the process. When Martha contacted The Property Finders in May 2024 she had already booked a two-week trip to Madrid in June to choose a property so time was short. Fortunately, she did have a very clear vision of the ideal property and in the course of several Zoom meetings we understood the brief and were ready to start the search process.
the brief
- 3 bed 3 bath apt in a prime central location.
- Al bedrooms to be of similar size.
- Large wardrobes essential.
- Balcony essential.
- Newly renovated preferred but light renovations if necessary.
- Proximity to key amenities, shops, restaurants, pharmacy.
- Air conditioning and heating essential.
- Walking distance to a metro station.
- Green spaces nearby for dog walking
The challenges
In the prime central locations demand is running way ahead of of supply and this makes it a very fast-moving market. A well-priced property in good condition in one of the prime areas does not stay unsold for long and we only had a couple of weeks to develop the shortlist. She wanted all three bedrooms to be of similar size, a challenging request as most flats are designed with a large master bedroom and smaller secondary bedrooms. Good terrace space is always difficult to find in Spain’s cities and Martha had to have an exterior terrace, not one overlooking an internal central patio. We worked with Martha’s stated budget but knew there was some flexibility and it was agreed we should include options slightly above budget, just in case.
Although we cover the whole of Madrid’s city centre, we focused the search in some of the most desirable addresses as we knew that Martha wanted to be right in the heart of city life. But as with many cities, local knowledge is essential as the various districts (barrios ) have their own history, character and ambience. So it was agreed that the initial focus would be on Chamberí, Chamartín and Salamanca as the most likely districts for the right mix of amenities, ambience and social life that give Madrid such a high quality of life.
the search
We sourced several options in her preferred neighbourhoods and one in particular with excellent refurbishment potential in Chamberí. After viewing many properties, we narrowed it down to a list of just three promising contenders for Martha to visit during her stay in June. However, each had its shortcomings—small wardrobes, living space too small, or kitchens that didn’t meet expectations. Although these defects could be resolved with a little work Martha then decided to extend her budget, allowing us to explore additional options. We found a well-located flat that seemed ideal, pending minor adjustments to the living room layout. However, upon reviewing the legal documents, we discovered community-related issues and humidity problems in neighbouring units.
Undeterred, we suggested Martha consider another option, slightly above her initial budget. She agreed, but the selling agent requested a 1% fee just to make an offer—something we advised Martha not to agree to due to the potential risk of scams. As buying agents we are only interested in what’s best for the buyer and in this situation, being asked for a deposit just to make an offer, our advice would be to walk away. A few agents try it on, one big name in particular, but we think it is outrageous. The buyer will be assured that it is refundable if the negotiation is unsuccessful but a common response to a failed negotiation is for the agent to say they’ll find something else so why not leave the deposit in place. Problem is many months later no suitable alternatives have been found and the buyer faces a battle to get their money returned. .
Just by chance, the owner had been in the property when we viewed so we contacted the him directly. He not only accepted our offer but also agreed to honour the agent’s commission, recognising their role in introducing us to the property. Even better, he reduced the asking price by €50,000, allowing Martha to secure the flat well below the original price.
the result
The property exceeded Martha’s expectations: located on a prominent street in Chamberí, it features three spacious bedrooms, all of similar size, with large wardrobes, three bathrooms, and an expansive living area. The flat boasts ducted air conditioning, is just minutes from two metro stations, and was surrounded by local amenities. The apartment is exterior-facing with not one but two balconies, a laundry area, and a quiet bedroom section separate from the main living space, ensuring a peaceful environment. The kitchen is fully equipped with modern appliances, including a dishwasher, refrigerator, and wine cooler.
Our legal team worked quickly and efficiently, making the entire process seamless. The property owner was cooperative, and everything fell into place smoothly. A great result for a newbie to the city and Martha is thrilled with her purchase:
Using “The Property Finders” to purchase a flat in Madrid was one of the best decisions I made. I felt like I had a strong support group by my side during the whole process.
Barbara’s representative in Madrid, Eliana, was such a wonderful partner! She has lived in Madrid for over twenty years and had detailed knowledge of the neighbourhoods, parks, attractions, streets, Metro system, etc. On top of all that, she has an infectious love of the city, something that couldn’t help but rub off on me. We spent a very busy two weeks looking at properties. She has a positive, upbeat demeanour, but had no problem looking out for my best interests and challenging realtors when she felt they were mis-representing or trying to add inappropriate fees. She was also very protective of me as a single woman, making sure I landed in a safe and friendly neighbourhood.
Madrid is a very heated market right now and finding a place that met my criteria and was within my budget had its challenges. Eliana worked so hard and never gave up. We eventually found a place that I love. Using her connections, she was able to find me contractors to help me get my new place clean, furnished and ready to move in. Barbara has assembled an impressive team of professionals that get you through the whole process, including legal expertise and architectural design, should you need it. I highly recommend contacting The Property Finders if you wish to find a home in Spain”.
And the dog is quite pleased too. Martha's apartment is between the Parque del Oeste or El Retiro for walkies.
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