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3 bed flat for sale in Madrid, Spain, 198 m²

3 bed flat for sale in Madrid, Spain, 198 m² - photo 1
3 bed flat for sale in Madrid, Spain, 198 m² - photo 2
3 bed flat for sale in Madrid, Spain, 198 m² - photo 3
3 bed flat for sale in Madrid, Spain, 198 m² - photo 4
3 bed flat for sale in Madrid, Spain, 198 m² - photo 5
3 bed flat for sale in Madrid, Spain, 198 m² - photo 6
3 bed flat for sale in Madrid, Spain, 198 m² - photo 7
Covered area198 m²
Market infoNew homes
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Apartment in Martínez Campos

New residential complex General Martínez Campos is located on the popular Madrid street that bears the same name. It is nestled in the historic Almagro neighborhood, in the heart of the Chamberí district. This location is definitely unmatched: it’s only one minute away from Iglesia station. There is also Line 1 of Madrid metro which runs through here, crossing Madrid from north to south, from Pinar de Chamartín to Valdecarros, in Vallecas. This development is only three stops from Gran Vía Metro and four stops from Sol.

Paseo del General Martínez Campos Street offers many restaurants, banks, supermarkets (Carrefour and Unide a few steps away), schools, underground parking lots and pharmacies. Moreover, the development is located next to the British Council, José Luis Sampedro public library and La Milagrosa hospital.

There are diverse areas to have leisure time during both day and night, such as Plaza de Olavide, full of terraces perfect for having a refreshing drink; Fuencarral street, one of the main commercial centers of the capital; and Nuevos Ministerios, an area full of large companies’ headquarters.

The development also stands out for its easy access to Paseo de la Castellana, one of the main road arteries that run through the capital.

Project description

General Martínez Campos development, located in one of the most exclusive areas of Madrid, has been designed by the prestigious architecture studio DelRío-Ferrero.

The second floor of an emblematic building of the project was renovated and now there are three innovative properties available on this floor. The properties have a floor space ranging between 197 and 200 square meters. The prices start at 1,320,000 euros plus VAT.

The properties offer three bedrooms and especially stand out for their spacious living room and a spectacular open space kitchen. The properties have been renovated and haven’t lost their charm. The architects made sure to use the best materials possible.

Interior features include smart home automation system, oak flooring, white lacquered wooden doors, custom built-in wardrobes, air conditioning and heating. The bathrooms are designed with white sanitary ware of Porcelanosa brand, and the kitchens are fully furnished and equipped with stainless steel refrigerator, compact oven, ceramic hob, hood and dishwasher.

These exclusive properties are south-facing, which means that all the rooms will be filled with natural light. The properties will be ready for move-in in May and June 2020.

Extra Сosts when Buying Property

VAT for new residential properties 10%
VAT for new commercial properties and plots of land 21%
Property Transfer tax for re-sale property 6-10%
Stamp Duty 1%
Notary and Land Registry fees about 2%
To the expenses noted above add:
Bank mortgage fee, of the value of the mortgage 1%-1.5%
Mortgage deed tax 1.5%
Land Registry and notary expenses about 2%
Bank valuation of the property from €300
Documents translation from €200
Insurance payments for the first year from €300/год

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Ongoing Ownership Costs

Annual property ownership tax, calculated on the cadastral value 0.5-2%
Non-resident income tax (the base for the applicable tax rate is generally 2% of the cadastral value) 25%
Annual wealth tax 0.2%-2.5%
Rubbish Collection Tax €100-200 p.a.
Community expenses for condominiums and urbanisations from €300 p.a.
Water and electricity rates €100-200 per month

Additional Services Costs

Legal fees about 1%
Estate agency fees 3-5%

Return on Investment

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