How to save on your trip to Madrid, Spain
Without a doubt, Madrid deserves a place on your European itinerary. The third largest city in the European Union, after London and Berlin, it’s packed with museums overflowing with amazing art, restaurants and bars serving up tasty tapas and local cuisine — but what about your budget?
¡Ningún problema! No problem — you don’t have to spend a ton of money to make the most of your time in Madrid. Here are some of our favorite cheapo tips for the Spanish capital so you can stay on budget, even with the occasional splurge on a nicer meal out, or a fancy cocktail in a club or on a rooftop terrace.
Flea markets
El Rastro Flea Market: Like the food markets, Madrid’s flea markets will give you an insight to how local people live (and shop). Held Sundays and on public holidays from 9 am until 3 pm in Plaza de Cascorro, Ribera de Curtidores street and the surrounding area, El Rastro Flea Market is a spectacle worth braving the crowds for. Barter for the best deal on old books, antiques, and artisan wares or just elbow your way through the masses and take in the show at what’s said to be Europe’s largest flea market.
Rave Market: For a trendier experience on the cheap, spend an afternoon shopping to live music and DJ sessions at the Rave Market, which promotes the recycling and exchange of second-hand goods (once a month, usually the last Sunday of the month).
“Free Store”: An interesting flea market alternative is the tienda gratis or free store at Centro Cultural La Piluka (Plaza Corcubión 16). Lighten your luggage donating clothes or shoes you don’t like or trade ‘em for something better Wednesdays and Fridays between 7 pm and 9 pm.
Parks and outdoor attractions
Madrid may be a massive metropolis, but it has green spaces aplenty where you can escape the crowds with a picnic or a good book. Without venturing far from the center, spend an afternoon in Madrid’s glorious central park, the Parque del Retiro, once a retreat for the Spanish Monarchy.
Highlights here include the sparkling glass atrium, El Palacio de Cristal, the sculpture-lined Paseo de la Argentina, and the Fallen Angel statue and fountain, rumored to be the only monument in the world dedicated to the devil.
Or head to Capricho Park, another former noble property to find your way to the middle of the bay tree maze and soak up the sun in the manicured gardens afterward.
Looking for something historic but more unusual? Snap sunset or sunrise shots at the 2,000-year-old Templo de Debod (Parque del Oeste), a gift from Egypt to Spain, sent to Madrid after Spanish engineers helped the Egyptian government move historic monuments at risk of being ruined after a new dam caused serious flooding.
If exercise is what you’re truly after, try Parque Juan Carlos where you can bike eight miles of trails with 19 outdoor art installations on a free loaner bike (bring an I.D. to leave as a deposit). When you’re worn out, hop the free tourist train that departs on the hour from the exit to get a leisurely look at the park.
Architecture aficionados will want to stroll the length of the striking modern Arganzuela Footbridge designed by Dominique Perrault at Madrid’s Rio Park. On cold or wet days, stroll among leafy green plants at the tropical garden in Atocha Railway Station.
The two-star Hotel Plaza Mayor is located next to the famous square and regularly has rates under $100.
Save big on hotels
We’re always hunting down the best hotel values in Europe’s capital cities. Check out our guide to the best budget hotels in Madrid for our top picks (including the Hotel Plaza Mayor, above).
Remember that Madrid is easy to get around with excellent neighborhoods and incredibly walker-friendly, so staying anywhere near the center of the city will prove to be convenient for heading out and coming home at night without the need for expensive taxis or cars.
Free museums in Madrid
Some of the capital’s biggest attractions are its awe-inspiring art museums and monuments where lines tend to be long, and entry is expensive. Depending on the time of year, the lines are hard to avoid, but Madrid’s most important art and culture attractions are free of charge afternoons, evenings, one day a week, or even better, all of the above.
Here’s how to save at the city’s top cultural attractions:
Palacio Real
Mondays through Thursdays, European residents and citizens can explore the Spanish royal palace (no longer the royal residence) between April and September from 6 to 8 pm, and October to March from 4 to 6 pm. Come with a book or a friend — the line is long — although if you come on a rainy or cold day you just might miss the line. On Wednesdays, catch the Changing of the Guard at the Bailen Street entry, every 20 minutes between 11 am and 2 pm.
Museo Arqueológico Nacional
Get a glimpse of Spain’s prehistoric art scene and see the see the Altamira cave paintings free on Saturdays from 2 to 8 pm and all day on Sundays. Check out an astrolabe from 11th century Islamic Spain before you go.
The Changing of the Guard at Palacio Real. Photo Elentir
El Prado
Take in five centuries of art, classics by Goya, Velásques, and El Greco for free at Madrid’s most famous art museum from 6 to 8 pm Monday through Saturday and 5 to 7 pm on Sundays and holidays. Expect long lines.
Reina Sofia
Get an eyeful of Picasso’s Guernica and other more modern masterpieces in a 16th-century hospital free of charge from 7 to 9 pm Monday to Saturday (closed Tuesdays) and 1:30 pm to 7 pm on Sundays.
Thyssen Bornemisza
Admire great works by European masters at this museum that completes Madrid’s golden triangle with one of the largest private collections in the world for free Mondays from 12 to 4 pm.
Andén O
Delve into the history of Madrid’s metro in this unusual underground museum. Free Tuesday to Friday from 11 am to 7 pm and from 11 am to 3pm on weekends. Trains circulating between the city’s Iglesia and Bilbao stops still come through on the rails, even though there’s no stop here.
Caixaforum
Catch a free concert, exhibit, or just gawk at the modern architecture at this former electric power station with a striking living plant wall.
Visit modern masters like Picasso at the Reina Sofia. Photo Ricardo
Centro Cultural Conde Duque
Browse the books at the artisan press and stick around for a contemporary art exhibit or performance. Most shows are free.
Museo Taurino
Channeling Hemingway? Follow the history of bullfighting in Spain from ancient times to the present at this free Madrid attraction. Don’t miss the collection of gory objects, including famous fighter Manolete’s sparkly traje de luces that he wore when gored to death at age 30.
Museo de Arte Público
Lurking underneath a bypass, this free outdoor museum features abstract sculptures by Miró and Chillida among others.
Museo de América
Examine historic artifacts at exhibitions tracing Spain’s dramatic relationship with the American continent from its “discovery” to the present. Free on Sundays.
Museo Tiflológico
At Madrid’s Blind Museum, you can learn about the experience of being blind from a historic point of view. It’s always free but it is closed Sundays and Mondays.
Planetario
Learning about the stars in the exhibitions, interactive displays, and videos at Madrid’s planetarium is always free. However, to see the stars in the projection hall, you’ll need to buy a ticket.
Dining: Free tapas
While not exactly free, at many local bars, small tapas or snacks are served as a gift when you order a glass of wine, beer, or a cocktail. Depending on the bar, the tapa could be anything from something light, like popcorn, chips, or the ubiquitous olives, to something more substantial like little sausages, meatballs, or a scoop of Russian salad on toast.
Tapas tip: For the biggest portions for the lowest prices, get away from the city center and busy tourist attractions and zero in on busy neighborhood bars.
Favorite tapas joints include:
- El Tigre: A centrally located favorite for hefty tapas with drinks is El Tigre (Calle de las Infantas, 30) — just don’t look down, the floor is not exactly clean.
- El Respiro: If El Tigre is too full, try El Respiro next door.
- El Rincón Abulense: Near Puerta de Sol, El Rincón Abulense (Caballero de Gracia, 18) is also well known for its generous portion sizes.
- Índalo Tapas: There’s also the popular chain, Índalo Tapas that offers a good selection of free tapas with inexpensive drinks.
Shopping for ham (jamón) at a Madrid market. Samples are free! Photo binderdonedat
Food markets
Browsing Madrid’s food markets is the best way to learn about the city’s foodie culture —and it’s free to boot! For the city’s best street food stands, head to San Ildefonso, or for a more traditional market experience make your way to Mercado de Maravillas, or Mercado de San Antón, right in the city center in a shiny modern building.
Don’t be shy, if you’re interested in making a purchase, but not sure if you’ll like something, ask for a sample (nicely, of course). Although San Miguel market is popular, it can get crowded and can feel a bit too touristy at times with prices to match.
Free Wi-fi
If you’re a relaxed traveler that likes to pull up a park bench, people watch, and browse the Internet for facts about your destination, Madrid might just be your spirit city. The local government offers free Wi-Fi hotspots in the airport, at libraries, newspaper stands, buses, plazas, local shops, and cafés.
On rainy days, hang out and read the local press while surfing the web in the chillout space at CentroCentro at Palacio de Cibeles or browse the collection at the majestic 18th century Biblioteca Nacional de España, the largest library in Spain (Paseo de Recoletos, 20-22).
Renting a car?
If you’re starting your journey in Madrid, we’d recommend starting your car rental on the day that you’re leaving Madrid, not the day you arrive. Most of Madrid’s big attractions are centrally located, meaning that you will not need (or want!) to mess around with a car. Parking garages in the center city are expensive — expect to pay at least €30 a day to park your car (and even that’s pretty cheap). Thus, rent it on your way out of town!
Also, rent your car well in advance for the best deals. Find a better deal closer to your travel date? Cancel and rebook — almost all agencies allow free cancellation. Search car rental companies here for the best deal.
More tips
Read more articles about saving in Madrid in EuroCheapo’s Madrid guide.
About the author
Hi there; I think you should look at Hotel Mediodia. It’s my go to hotel in Madrid when I travel.
Thanks for the tip Martha! We’ll check it out.
If you like or need to spend less on some snacks, you don´t need to leave the city. Right in the midst, within the area of Puerta del Sol, along Calle Mayor, is Museo de Jamon. It sells its bocadillos of various kinds, lacon, jamon, chorizo, quezo, for 1 euro. Drinks come with aperitivo for also 1 euro. Such a bargain, don´t you think?