Recently I’ve been on a mission to uncover towns where you can own near one of Europe’s great capitals…but for a fraction of city-center prices.
This mission has already taken me to stunning destinations connected by short high-speed rail journey to Madrid—places like Toledo and Segovia—where historic beauty meets real value. And I’ll share scouting notes on both below.
But first, I have a lot lined up in the coming weeks…
This week, I arrived back at my home in Guadalajara, Mexico. From here, I’m putting the finishing touches to my annual real estate index of the 25 best places to buy in the world for 2026. This comprehensive annual report is the product of a year’s worth of scouting, research, and on-the-ground analysis and I’ll be unveiling it very soon.
Plus I’m planning a lot more scouting…
In the coming weeks, I’ll be using my home in Guadalajara as a base for upcoming scouting to destinations including Ensenada on Mexico’s Pacific coast, Nicaragua, and Paraguay’s capital, Asunción in early December. I’ll have boots on the ground in Costa Rica in January…and, of course, I’ll be enjoying Cabo between all the scouting.
But today, I want to dive into the final scouting I did in Europe just before I crossed the Atlantic and a special project I’m calling “Mission Madrid.” Let me explain…
My New Mission
Spain is surging. Good demographics and strong ties to Latin America have helped make it the fastest-growing major economy in Europe.
I scouted Madrid twice last month. Its economic vitality was visible to me as I walked the streets. My impression is the city’s on a path to becoming a true global center of wealth, power and culture, in the vein of London or Paris.
But what intrigues me as a real estate scout and investor are the towns and cities just outside Madrid. The ones you can get to from the city in 40 minutes or an hour on a fast train (which is an excellent way to travel in this part of the world).
Just beyond the capital, I’ve found towns where real estate costs one-third—or less—of Madrid prices, yet you can be in the city in under an hour.
I have a set of criteria that I’m applying. I’m looking for lifestyle and income. And there are personal considerations. For example, the weather is important for me…
For my Madrid Mission, I have a “hit list” of towns and cities…and I’m knocking them off one at a time. Running the rule over each place for opportunities…
I’m searching for the next great commuter towns where you can live affordably and still have access to a major European hub.
So let’s take a quick jaunt through my recent trips as part of this project…starting with a brief revisit to my Toledo trip in early October and then my Segovia scouting at the end of the month…
Toledo: A Medieval Gem Just 34 Minutes from Madrid
When in Madrid in early October, I scouted Toledo, about 34 minutes from Madrid. It’s a big tourist draw, but I found real estate prices affordable.
Perched on a hill above the Tagus River, Toledo is a labyrinth of cobbled streets, medieval walls, and golden-stone churches. It feels like a living museum of Spanish culture—its winding lanes lined with artisan shops, sword-makers, and tapas bars.
Panoramic river views frame a skyline of spires and towers, while galleries and festivals showcase art and tradition.
When there, I dug straight into the real estate.
I found this Airbnb full for pretty much all of October at rates pushing €600 ($690) a night.
Now look at what you can buy…
This apartment in the heart of Toledo is on the market for €325,000 ($373,200). What struck me was the photo of its terrace (below). Imagine that in an Airbnb ad…
Toledo is beautiful. And I see definite potential here. It’s a historic town 34 minutes from the heart of Madrid by fast train…with prices one third of central Madrid… maybe one quarter…this a place where I intend to do more digging…
About 100 miles from Toledo lies Segovia…
Segovia: Castles, Cobblestones—and Real Estate Values
At Halloween, I zipped across the Spanish countryside at 182 miles per hour. The high-speed train from Ourense (which I wrote about yesterday) to Segovia takes just two hours and 14 minutes and I enjoyed every minute of it.
The historic city of Segovia is about an hour northwest of Madrid.
Perched on a hilltop with sweeping views of the surrounding plains, Segovia is best known for its spectacular Roman aqueduct and the city’s medieval Old Town, a UNESCO World Heritage site, is a maze of cobblestone streets leading to its fairytale-like Alcázar, said to have inspired Walt Disney’s castle.
When I scouted it, Segovia reminded me of Ireland with its cool, wet weather.
Here’s a four-bed, three-bath apartment I found in the old town. It has a privileged location next to the Alcazar, with views of it, and spans 2,422 square feet. It’s on the market for €470,000 ($539,700).
Segovia is also a place that deserves more scrutiny…
Bottom line: I’m convinced I’m onto something here. Just beyond Madrid’s limits, these train-linked towns offer a lifestyle that blends old-world charm with modern connectivity — and prices that feel like they belong to another decade.
My “Mission Madrid” is only beginning, and I’ll be sharing what I uncover in upcoming scouting reports in the new year when I return to Europe.
The next great opportunity may be just a train ride from Europe’s next great capital.
Wishing you good real estate investing,
P.S. As I say, I’m currently putting the finishing touches on my annual Index—a distillation of a year’s worth of scouting. It will reveal the 25 best places in the world to buy real estate in the coming year. Stay tuned…full details coming very soon.
