Hotels are dead. If you want to see Madrid, rent a Madrid apartment

It used to be that visitors to Madrid had only two options - stay in a pension or hostel, or spend four times the price and stay in hotel. That’s not the case anymore. Madrid is following Barcelona’s lead and offering short term stays in high quality apartments at prices that compete well with the hotels.

As many commentators have pointed out, Madrid’s ample stock of hotels fail to offer much variation. Between two star hostels and four star hotels, the biggest difference is seen in the price and not in the quality. Moreover, many who visit Madrid for the first time discover their hotel to be a long way from the main tourist attractions.

Now, however, there is an alternative. A number of companies now offer high quality and even luxury apartments for short rentals, perfectly located in the heart of Madrid’s historic center. These companies offer the chance to see Madrid from the inside, with a level of privacy hotels cannot match.

The trend towards holiday apartments follows a lead from Barcelona. There, the holiday apartment business is in boom. Initially, this was because of a shortage of hotel beds in Barcelona, but increasingly it is being driven by demand. Now, travelers are searching out for the same kind of accommodation in Madrid, and companies like Spain Select, better known for villa rentals throughout Spain, are increasing their range of apartments to meet the growing demand. They aim to offer 25 to 30 apartments this year.

Part of the problem with meeting the demand has been locating suitable properties in Madrid’s historic central district. Most visitors to Madrid will want to be located not far from the Plaza Mayor, the Palace and the Prado Museum. This means finding properties that are well refurbished and tastefully decorated, in well-restored and maintained buildings. Demand for such properties is high and so, accordingly, are the prices they command.

Fortunately for the visitor, the apartment rental agencies are increasingly able to identify quality properties before refurbishment, and opt to carry out the renovation work themselves. This means the properties are decorated to a high standard and perfectly prepared for most visitors’ needs.