Madrid is one of the world’s most exciting capital cities, bustling with artistic and cultural events. CEMFI is situated in a quiet but very central location, between the Retiro Park and the Prado Museum, in a beautiful listed building dating from 1887.
Students usually rent apartments, typically sharing the rent among several classmates. CEMFI helps students in finding accommodation in several ways. We provide admitted students with a list of inexpensive hostels for short-term stays while looking for accommodation and of rental agencies in Madrid with English-speaking staff.
We also provide contacts with owners who traditionally rent apartments to our students and email addresses of current and incoming CEMFI students, so that they can coordinate before arriving in Madrid.
Cost of living in Madrid
As any capital, Madrid is not an inexpensive city to live in, but it is still relatively cheap from a cost of living standpoint compared to other Western European capitals.
CEMFI estimates the cost of living in Madrid from information provided annually by its own students. For 2010/2011, we estimate that students should allow at least EUR 800 per month for living costs. Note that the total for a 10-month academic year is therefore equal to EUR 8,000.
This total monthly amount is broken down into accommodation and other expenses as follows:
