{"id":3325,"date":"2026-04-24T12:52:01","date_gmt":"2026-04-24T10:52:01","guid":{"rendered":"https:\/\/eolos.es\/reforma-propiedad-inversion-madrid-renta-retiene\/"},"modified":"2026-05-04T18:13:20","modified_gmt":"2026-05-04T16:13:20","slug":"reforma-propiedad-inversion-madrid-renta-retiene","status":"publish","type":"post","link":"https:\/\/eolos.es\/en\/guias\/reforma-propiedad-inversion-madrid-renta-retiene\/","title":{"rendered":"Refurbishing an Investment Property in Madrid: What It Yields, What It Retains and the Difference"},"content":{"rendered":"<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-c18b640c wp-block-columns-is-layout-flex\" style=\"margin-top:0;margin-bottom:0;padding-top:0px;padding-bottom:0\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-22223934 wp-block-column-is-layout-flow\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column lemmony-sticky is-layout-flow wp-container-core-column-is-layout-f5bb311e wp-block-column-is-layout-flow\" style=\"flex-basis:42%\">\n<div class=\"wp-block-cover is-light lemmony-sticky\" style=\"padding-top:var(--wp--preset--spacing--40)\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-background-color has-background-dim-100 has-background-dim\"><\/span><div class=\"wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28232c24 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-f5bb311e wp-block-column-is-layout-flow\">\n<p><\/p>\n\n\n\n<h5 class=\"wp-block-heading has-small-font-size\" style=\"font-style:normal;font-weight:600;line-height:1.6\">Guide<\/h5>\n\n\n<h2 class=\"wp-block-post-title has-medium-plus-font-size\">Refurbishing an Investment Property in Madrid: What It Yields, What It Retains and the Difference<\/h2>\n\n\n<p><strong>Subscribe to our newsletter!<\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\"><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-container-core-group-is-layout-1026f38c wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-7779b08b wp-block-group-is-layout-constrained\" style=\"margin-top:var(--wp--preset--spacing--40)\"><p><div class=\"forminator-ui forminator-custom-form forminator-custom-form-1692 forminator-design--material  forminator_ajax\" data-forminator-render=\"0\" data-form=\"forminator-module-1692\" data-uid=\"69fa3818b7fd1\"><br\/><\/div><form\r\n\t\t\t\tid=\"forminator-module-1692\"\r\n\t\t\t\tclass=\"forminator-ui forminator-custom-form forminator-custom-form-1692 forminator-design--material  forminator_ajax\"\r\n\t\t\t\tmethod=\"post\"\r\n\t\t\t\tdata-forminator-render=\"0\"\r\n\t\t\t\tdata-form-id=\"1692\"\r\n\t\t\t\t data-color-option=\"theme\" data-design=\"material\" data-grid=\"open\" style=\"display: none;\"\r\n\t\t\t\tdata-uid=\"69fa3818b7fd1\" action=\"\"\r\n\t\t\t><div role=\"alert\" aria-live=\"polite\" class=\"forminator-response-message forminator-error\" aria-hidden=\"true\"><\/div><div class=\"forminator-row\"><div id=\"name-1\" class=\"forminator-field-name forminator-col forminator-col-6\"><div class=\"forminator-field\"><input type=\"text\" name=\"name-1\" value=\"\" placeholder=\"Name*\" id=\"forminator-field-name-1_69fa3818b7fd1\" class=\"forminator-input forminator-name--field\" aria-required=\"true\" autocomplete=\"name\" \/><\/div><\/div><div id=\"email-1\" class=\"forminator-field-email forminator-col forminator-col-6\"><div class=\"forminator-field\"><input type=\"email\" name=\"email-1\" value=\"\" placeholder=\"Email*\" id=\"forminator-field-email-1_69fa3818b7fd1\" class=\"forminator-input forminator-email--field\" data-required=\"true\" aria-required=\"true\" autocomplete=\"email\" \/><\/div><\/div><\/div><div class=\"forminator-row\" style=\"margin: 0;\"><div id=\"captcha-1\" class=\"forminator-field-captcha  forminator-col-12\"><div class=\"forminator-captcha-left forminator-g-recaptcha recaptcha-invisible\" data-theme=\"light\" data-badge=\"bottomleft\" data-sitekey=\"6LcY54csAAAAAALegveuieDoo37F7_h_up7F6slP\" data-size=\"invisible\"><\/div> <\/div><\/div><input type=\"hidden\" name=\"referer_url\" value=\"\" \/><div class=\"forminator-row forminator-row-last\"><div class=\"forminator-col\"><div class=\"forminator-field\"><button class=\"forminator-button forminator-button-submit\"><span>SUBSCRIBE<\/span><span aria-hidden=\"true\"><\/span><\/button><\/div><\/div><\/div><input type=\"hidden\" id=\"forminator_nonce\" name=\"forminator_nonce\" value=\"40083c0bc1\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/en\/wp-json\/wp\/v2\/posts\/3325\" \/><input type=\"hidden\" name=\"form_id\" value=\"1692\"><input type=\"hidden\" name=\"page_id\" value=\"3325\"><input type=\"hidden\" name=\"form_type\" value=\"default\"><input type=\"hidden\" name=\"current_url\" value=\"https:\/\/eolos.es\/en\/guias\/reforma-propiedad-inversion-madrid-renta-retiene\/\"><input type=\"hidden\" name=\"render_id\" value=\"0\"><input type=\"hidden\" name=\"action\" value=\"forminator_submit_form_custom-forms\"><input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\" style=\"margin-top:40px\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-tiny-plus-font-size has-custom-font-size wp-element-button\" href=\"https:\/\/eolos.es\/en\/contact\/\" style=\"font-style:normal;font-weight:700\">Book a Free Consultation<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-container-core-column-is-layout-0ab540ad wp-block-column-is-layout-flow\">\n<div class=\"wp-block-group is-layout-flow wp-container-core-group-is-layout-9b635ac4 wp-block-group-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1396\" src=\"https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-scaled.jpg\" alt=\"Refurbishing an Investment Property in Madrid: What It Yields, What It Retains and the Difference\" class=\"wp-image-3359\" srcset=\"https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-scaled.jpg 2560w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-300x164.jpg 300w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-2000x1091.jpg 2000w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-768x419.jpg 768w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-1536x838.jpg 1536w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-2048x1117.jpg 2048w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-18x10.jpg 18w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-500x273.jpg 500w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-800x436.jpg 800w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-1280x698.jpg 1280w, https:\/\/eolos.es\/wp-content\/uploads\/2026\/04\/9-1920x1047.jpg 1920w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n\n<p>There are two types of reform in an investment property in Madrid. The one that minimizes the initial cost to go on the market as soon as possible. And the one that thinks about who is going to live or work there and for how long.<\/p>\n\n\n\n<p>They are not the same renovation. And the difference between the two is not only in the budget, but in the decisions that are made: what materials are chosen, how the space is distributed, what level of finish is sought in each area. These decisions determine whether the asset attracts the tenant who pays well and stays, or the one who comes because it is the cheapest available and leaves as soon as he can.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-plus-font-size\">The rental market in Madrid in 2026<\/h2>\n\n\n\n<p>Madrid is the most competitive rental market in Spain. Demand outstrips supply in almost every district, which can give the impression that any property rents itself. This is partly true: a property in poor condition in Malasa\u00f1a or Chamber\u00ed will rent. The problem is to whom and at what price.<\/p>\n\n\n\n<p>The quality tenant, the one who has economic stability, takes care of the space and renews the lease, does not choose out of necessity. They choose because of what the space offers. And he has options. If your property is not up to what he is looking for, he doesn't tell you: he simply chooses another one.<\/p>\n\n\n\n<p>A well planned renovation in Madrid can justify a rent between 20% and 40% higher than the same property without intervention, depending on the area and the type of property. This difference is normally recovered in the first year of higher rent.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-plus-font-size\">What rents in the short term and what retains in the long term<\/h2>\n\n\n\n<p>They don't always match. There are design decisions that make a property look good in the listing photos and rent quickly, but create problems with the first year of use. And there are decisions that require a slightly larger investment but produce a tenant that renews and an asset that needs no intervention between leases.<\/p>\n\n\n\n<p>Low-cost laminate floors photograph well and are inexpensive to install. But with a year of normal use, especially in walkways, they deteriorate visibly. The next tenant sees it, negotiates down, and the property starts needing intervention every time the lease changes.<\/p>\n\n\n\n<p>A functional kitchen with medium-high-end appliances and a resistant material countertop has a higher initial cost, but it does not generate incidents, the tenant takes care of it because he perceives it as valuable, and it does not need to be replaced in five years.<\/p>\n\n\n\n<p>The difference between the two strategies is not just in the cost of the renovation. It is in the total cost of the asset over five years: refurbishment, incidents, tenant turnover, time on market between leases, and rent differential.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-plus-font-size\">The areas of the property where the investment has the highest return on investment<\/h2>\n\n\n\n<p>It is not necessary to renovate everything at the same level. There are areas where the impact on tenant perception is high and areas where a basic intervention is sufficient.<\/p>\n\n\n\n<p>The kitchen and the main bathroom are the two areas that most influence the rental decision. They are also the ones that deteriorate the most with use. A concentrated investment in these two areas, with resistant materials and a consistent design, produces the highest return per euro invested.<\/p>\n\n\n\n<p>Lighting is the second highest impact lever for the lowest cost. A well-lit space, with well-placed light points and appropriate color temperature, is perceived as more cared for and larger. It is a relatively inexpensive intervention that changes the perception of the space completely.<\/p>\n\n\n\n<p>The finishes of the common areas, if it is a shared building, are outside the control of the individual owner. But inside the property, the entrance and living room are the first areas the tenant sees. A good first impression makes the rest of the space better perceived.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-plus-font-size\">Airbnb and short-stay rentals: a different design criterion<\/h2>\n\n\n\n<p>A property intended for tourist or short term rental needs a different design than a long term residential rental property. Wear and tear is greater and faster. Materials need to be stronger, easier to clean, and more neutral in terms of taste to appeal to the widest possible range of guests.<\/p>\n\n\n\n<p>It also changes the logic of the layout. A well-functioning short-stay apartment is one where the guest understands how to move around without instructions, where everything is where it is expected to be, and where there are no design elements that require explanation. Functionality takes precedence over originality.<\/p>\n\n\n\n<p>If you want to understand how design impacts the value of a commercial or investment asset prior to selling or leasing it, the article on <a href=\"https:\/\/eolos.es\/en\/guias\/diseno-interiores-aumenta-valor-activo-comercial\/\">how interior design increases the value of a commercial asset<\/a> provides a useful framework for thinking about intervention.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-plus-font-size\">How Eolos works on refurbishment projects for investment in Madrid<\/h2>\n\n\n\n<p>The starting point is the purpose of the asset: whether it is for long-term residential rental, for tourist rental, or for sale. Each objective has a different investment logic and produces different design decisions.<\/p>\n\n\n\n<p>Eolos is managed by COAM registered architects with more than 20 years of experience in projects in Spain, Sweden and Greece. If you have a property in Madrid that you want to refurbish for investment and you want to know what makes sense to do and what not, tell us the situation. The form is below.<\/p>\n\n\n<p><div class=\"forminator-ui forminator-custom-form forminator-custom-form-1797 forminator-design--material  forminator_ajax\" data-forminator-render=\"0\" data-form=\"forminator-module-1797\" data-uid=\"69fa3818bf4f8\"><br\/><\/div><form\r\n\t\t\t\tid=\"forminator-module-1797\"\r\n\t\t\t\tclass=\"forminator-ui forminator-custom-form forminator-custom-form-1797 forminator-design--material  forminator_ajax\"\r\n\t\t\t\tmethod=\"post\"\r\n\t\t\t\tdata-forminator-render=\"0\"\r\n\t\t\t\tdata-form-id=\"1797\"\r\n\t\t\t\t data-color-option=\"theme\" data-design=\"material\" data-grid=\"open\" style=\"display: none;\"\r\n\t\t\t\tdata-uid=\"69fa3818bf4f8\" action=\"\"\r\n\t\t\t><div role=\"alert\" aria-live=\"polite\" class=\"forminator-response-message forminator-error\" aria-hidden=\"true\"><\/div><div class=\"forminator-row\"><div id=\"name-1\" class=\"forminator-field-name forminator-col forminator-col-12\"><div class=\"forminator-field\"><input type=\"text\" name=\"name-1\" value=\"\" placeholder=\"Name*\" id=\"forminator-field-name-1_69fa3818bf4f8\" class=\"forminator-input forminator-name--field\" aria-required=\"true\" autocomplete=\"name\" \/><\/div><\/div><\/div><div class=\"forminator-row\"><div id=\"email-1\" class=\"forminator-field-email forminator-col forminator-col-6\"><div class=\"forminator-field\"><input type=\"email\" name=\"email-1\" value=\"\" placeholder=\"Email*\" id=\"forminator-field-email-1_69fa3818bf4f8\" class=\"forminator-input forminator-email--field\" data-required=\"true\" aria-required=\"true\" autocomplete=\"email\" \/><\/div><\/div><div id=\"phone-1\" class=\"forminator-field-phone forminator-col forminator-col-6\"><div class=\"forminator-field\"><input type=\"text\" name=\"phone-1\" value=\"\" placeholder=\"Telephone (recommended)\" id=\"forminator-field-phone-1_69fa3818bf4f8\" class=\"forminator-input forminator-field--phone\" data-required=\"\" aria-required=\"false\" autocomplete=\"off\" \/><\/div><\/div><\/div><div class=\"forminator-row\"><div id=\"text-1\" class=\"forminator-field-text forminator-col forminator-col-12\"><div class=\"forminator-field\"><input type=\"text\" name=\"text-1\" value=\"\" placeholder=\"Project location\" id=\"forminator-field-text-1_69fa3818bf4f8\" class=\"forminator-input forminator-name--field\" data-required=\"\" \/><\/div><\/div><\/div><div class=\"forminator-row\"><div id=\"textarea-1\" class=\"forminator-field-textarea forminator-col forminator-col-12\"><div class=\"forminator-field\"><textarea name=\"textarea-1\" placeholder=\"Tell us about your project*.\" id=\"forminator-field-textarea-1_69fa3818bf4f8\" class=\"forminator-textarea\" rows=\"6\" style=\"--forminator-textarea-min-height:140px;\" ><\/textarea><\/div><\/div><\/div><div class=\"forminator-row\"><div id=\"consent-1\" class=\"forminator-field-consent forminator-col forminator-col-12\"><div class=\"forminator-field\"><label for=\"forminator-field-consent-1_69fa3818bf4f8\" id=\"forminator-field-consent-1_69fa3818bf4f8-label\" class=\"forminator-label\">Consent <span class=\"forminator-required\">*<\/span><\/label><div class=\"forminator-checkbox__wrapper\"><label id=\"forminator-field-consent-1_69fa3818bf4f8__label\" class=\"forminator-checkbox forminator-consent\"><input type=\"checkbox\" name=\"consent-1\" id=\"forminator-field-consent-1_69fa3818bf4f8\" value=\"checked\" aria-labelledby=\"forminator-field-consent-1_69fa3818bf4f8-label\" aria-describedby=\"forminator-field-consent-1_69fa3818bf4f8__description\" data-required=\"true\" aria-required=\"true\" \/><span class=\"forminator-checkbox-box\" aria-hidden=\"true\"><\/span><\/label><div id=\"forminator-field-consent-1_69fa3818bf4f8__description\" class=\"forminator-checkbox__label forminator-consent__label\"><p>I accept the <a class=\"underline underline underline-offset-2 decoration-1 decoration-current\/40 hover:decoration-current focus:decoration-current\" href=\"https:\/\/eolos.es\/en\/legal\/\">privacy policy<\/a>. All information shared is confidential from the first contact.<\/p><\/div><\/div><\/div><\/div><\/div><div class=\"forminator-row\" style=\"margin: 0;\"><div id=\"captcha-1\" class=\"forminator-field-captcha  forminator-col-12\"><div class=\"forminator-captcha-left forminator-g-recaptcha recaptcha-invisible\" data-theme=\"light\" data-badge=\"bottomleft\" data-sitekey=\"6LcY54csAAAAAALegveuieDoo37F7_h_up7F6slP\" data-size=\"invisible\"><\/div> <\/div><\/div><input type=\"hidden\" name=\"referer_url\" value=\"\" \/><div class=\"forminator-row forminator-row-last\"><div class=\"forminator-col\"><div class=\"forminator-field\"><button class=\"forminator-button forminator-button-submit\"><span>Send message<\/span><span aria-hidden=\"true\"><\/span><\/button><\/div><\/div><\/div><input type=\"hidden\" id=\"forminator_nonce\" name=\"forminator_nonce\" value=\"b245069be7\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/en\/wp-json\/wp\/v2\/posts\/3325\" \/><input type=\"hidden\" name=\"form_id\" value=\"1797\"><input type=\"hidden\" name=\"page_id\" value=\"3325\"><input type=\"hidden\" name=\"form_type\" value=\"default\"><input type=\"hidden\" name=\"current_url\" value=\"https:\/\/eolos.es\/en\/guias\/reforma-propiedad-inversion-madrid-renta-retiene\/\"><input type=\"hidden\" name=\"render_id\" value=\"0\"><input type=\"hidden\" name=\"action\" value=\"forminator_submit_form_custom-forms\"><input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>An investment renovation is not the same as a living renovation. Decisions that maximize initial rent are not always the ones that retain good tenants. How to think about the difference before starting the work.<\/p>","protected":false},"author":6,"featured_media":3359,"comment_status":"closed","ping_status":"open","sticky":false,"template":"wp-custom-template-pro","format":"standard","meta":{"iawp_total_views":0,"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[44],"tags":[41],"class_list":["post-3325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guias","tag-blog"],"_links":{"self":[{"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/posts\/3325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/comments?post=3325"}],"version-history":[{"count":1,"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/posts\/3325\/revisions"}],"predecessor-version":[{"id":3782,"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/posts\/3325\/revisions\/3782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/media\/3359"}],"wp:attachment":[{"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/media?parent=3325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/categories?post=3325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eolos.es\/en\/wp-json\/wp\/v2\/tags?post=3325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}