Fernando, 39, has swapped his free accommodation in Madrid for a 350 euro rental in Soria. With a net salary of 1,500 euros, he manages to save half of his monthly income.
A 39-year-old man from Madrid has made a decision that many residents of the Community of Madrid are increasingly considering: leaving the capital to settle in a province with a much lower cost of living. Fernando, who worked in the metal sector, has exchanged a free family-owned flat in Madrid for a 350 euro rental in Soria, where he earns a net salary of 1,500 euros a month.
As Fernando himself explained, his monthly budget in Soria breaks down into 350 euros for rent and about 400 euros more to cover food, utilities like electricity and heating, and daily transport. This results in a total expenditure of around 750 euros, allowing him to allocate 50% of his income directly to active savings. “My expenses barely reach 750, including food, electricity, and transport,” he noted.
Fernando's decision contrasts with the reality of many Madrileños, who on average allocate more than 40% of their net income to rent or mortgage payments. The housing crisis affecting Spain, particularly the Community of Madrid, is pushing individuals like him to seek alternatives in provinces with less real estate pressure.
Soria, one of the most depopulated provinces in Spain, has become an attractive destination for those seeking quality of life and financial stability. The province offers affordable rents, short commutes without traffic jams, and a natural environment that many value. Additionally, it has a differentiated tax regime authorised by the European Commission, with incentives for companies and workers who settle in areas with densities below 12.5 inhabitants per square kilometre.
However, the move to Soria also involves facing certain structural shortcomings. The province suffers from a precarious rail infrastructure, with the Soria-Torralba line plagued by constant delays. Moreover, some specialised medical services are centralised in Burgos or Valladolid, and the cultural offerings are more limited than in a large capital like Madrid. For Fernando, however, the balance is clearly positive: the tranquility and low financial pressure more than compensate for these limitations.
Fernando's case is part of a broader debate about repopulation policies in Spain's empty areas. Autonomous communities like Castilla y León have implemented support for the operation of businesses and tax deductions to attract new residents. These measures, combined with the low cost of housing, are making provinces like Soria viable destinations for those looking to escape the high prices of Madrid.
For Madrileños considering a similar move, prior planning is key. Analysing fiscal viability, regional incentives, and job opportunities in the chosen destination is crucial for ensuring a successful experience. Fernando, for his part, has no regrets: “I wouldn’t trade this tranquility for a free flat in Madrid.”
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