In a few months I might be living in Madrid. Now it has come to my attention that banks auction off real estate properties if they are foreclosed such as apartments that are returned to the bank due to a failure of payment. In which case, the price of such apartment is rather reasonable. Would anybody know this things or are their schedules and lists of these things in Madrid. Help!!!

Hi Bethsu,
You are right they will ask you in most of the cases to have a bank auction, it use to be the price for 2 months renting. But I am not glad to tell you that you will have serius problems to find a place to rent as this is in my opinion the bigest problem that young spanish people have. Check prices in this URL http://www.idealista.com (if you need help using the web tell me) and you’ll start to know what I am talking about. Maybe if you have a medium US salary won’t have problems but if your salary will be acording to what it is paid to a standar Spanish I can only tell you that you won’t be abla to rent by your own and you should start thinkis to share a small flat (I’m talking about preces in main province capitals overcome at Madrid)