Ni el turístico gana siempre ni el tradicional siempre pierde: depende de si tu vivienda tiene licencia en regla fuera de las zonas restringidas por el Plan RESIDE. En el mejor caso, AirDNA sitúa el ROI turístico en 8-12% frente al 4-6% del tradicional (hasta 150% más); pero el tradicional en Madrid ronda 23,7€/m², mientras el turístico (ADR ~182$/noche, 51,6% ocupación) pierde ventaja al restar comisión OTA (15-18%). El alquiler de temporada queda de punto intermedio.
Why SERP contradicts (and both parties are right)
AirDNAand the industry's reference analytics, says that the profitability of the holiday rental can exceed 150% at traditional rental en el mejor escenario, y sitúa un ROI típico de vivienda vacacional en España entre el 8% y el 12%, frente al 4-6% del alquiler residencial tradicional. Es un dato real, pero describe el best case: area with strong tourist demand, high employment and professional management with dynamic training.
On the other hand, The Economist have reported that regulatory uncertainty and a fall in profitability are leading investors of rental tourism in Madrid to rethink their investment with owners selling at the lowest margin. That information describes the adverse stage: areas with growing restrictions, limbo leave and poor management that does not compensate for regulatory risk.
The honest conclusion isn't "the tourist always wins" or "the tourist no longer compensates." That's: depend on the area, whether you have a valid license and quality of management. We're going to all three scenarios with verifiable data.
The starting data (with source and date)
- Average traditional rental price in Madrid city: 23,7 €/m² en junio de 2026, con la Comunidad de Madrid en 21,7 €/m² (+1,7% interanual). Source: Idealist, rental price report, June 2026.
- ADR (average price per night) for rental and rental in Madrid: around 182 $/ night, with an average occupation of 51,6% and a RevpAR of 96 $. Source: AirROI, market information Madrid 2026.
- Roast of tourist performance vs. traditional: up to an upper 150% at best with a typical vacation RoI of 8-12% versus the traditional 4-6%. Source: AirDNA, corporate blog, 2026.
- Falling of profitability and investor sales in Madrid: Regulation uncertainty and lower profitability have led tourist owners to sell their investment. Source: The Economist, Housing and Property Section, 2026.
The three real scenarios
Instead of a single figure of profitability, the reality of Madrid best explain with three scenarios depending on how housing, area and who manage it:
| Career-run tourism | Season rental / half stay | Traditional rental (12 months) | |
|---|---|---|---|
| Required tourist leave | That's right. | No (contract < 11 months, article 3.2) | No |
| Typical gross performance | High demand and management (ROI 8-12%, AirDNA) | Medium-high, with no regulatory risk VUT | Ground-mean (ROI ~ 4-6%) |
| Regulation risk (Reside Plan) | Tight in restricted areas | Low | None |
| Management and dedicated | High (daily rotation) with the exception of with gestor | Average (monthly rotation) | Low |
| Income stability | Seasonal, variable | More stable than tourist | Very stable |
The rental or half-stay (contracts less than 11 months under the article 3.2 of the LAU, without the need for a tourist license) have become the midpoint that many owners of Madrid are exploring: prevents the regulatory risk of VUT in areas restricted by the Reside Plan, keeps an outturn to the traditional pure rental and reduces the management burden with respect to the daily rotation of the pure tourist.
The real decision factor: Plan Resids
The Reside Plan at the town hall of Madrid is the most important normative piece that's conditioning actual profitability at 2026. It lays down restrictions depending on location: in the historic centre, only tourist houses are allowed fully tourist or tertiary buildingsand outside the centre, demand independent access and compliance with quotas by building. In practice, this dramatically reduces the number of housing that can be legalised as tourism in areas with high demand.
That partially explains the contradiction of SERP: if your housing area and a building that complies with the Reside Plan with a valid license, the AirDNA (high profitability) stage is realistic. If your housing is in a restricted area with no choice to legalize, or depend on the hope that regulations will change, the stage of The Economist (fall of profitability and sale of investors) is what awaits you. We have reviewed the complete map of restrictions by city tourist housing moratoriums 2026: Madrid, Barcelona and Málaga.
Simple calculator: tourist raw vs. traditional
Enter the meters of your house to compare traditional rental (at market prices) with an estimated tourist ADR at different jobs.
Estimación orientativa con ADR de referencia ~168 €/noche (182 $ a tipo de cambio aprox., AirROI 2026) y precio de alquiler tradicional de Idealista para Madrid ciudad (jun-2026). No descuenta comisiones de gestión, OTA, limpieza ni suministros; el bruto turístico no es el neto.
From raw to net: why doesn't the tourist always gain
The previous calculator compares gross income, and that's where many online comparisons stop, with a result that always favours tourists. The reality changes when the own costs of each model are reduced. The tourist rental professionally managed with: OTA commission (15-18%), management commission if you delegate (10-25% as model, see how much a tourist rental management company charges), cleaning after each stay, intensive supplies and months of low employment out of season. The traditional rental, however, barely has management costs, a single cleanup by changing tenant and tenant-run supplies in most contracts. That's why, in a housing with bad tourist location, bad management or low employment area, the net of the traditional can get close to or even exceed that of the poorly managed tourist, even if the tourist gross looks always bigger.
The role of liquidity and risk
There's a difference that profitability comparisons rarely mention: liquidity and reversibility from every model. The traditional rental, with a long term contract, is the most rigid: to get back housing earlier is complicated by the legal protection of the tenant. The tourist rental is the most liquid: you can block dates for own use, change prices strategy from day to day or sell free housing from occupants at any time. The season rental remains at an intermediate point with contracts for months instead of years. If you value flexibility as much as profitability, this factor weighs as much as the number of the previous table.
Centre, periphery and municipalities of Castile and León: not everything's the same
The previous three scenarios have been changing greatly depending on where the housing is. At centre of MadridThe demand for tourism is the highest in the Community, but it's also where the Reside Plan is more restrictive: only fully tourist or tertiary buildings can operate VUT legally. At periphery districts with lower tourist pressure, it's easier to get a license (independent access, less saturated quotas), although ADR and tourist employment are often lower, bringing about profitability to season rental. In municipalities of Castile and León with lower policy density (Ávila, Segovia, area of Gredos), tourism housing linked to rural or nature tourism can have less license competition but also a more marked standstill with months of very low demand outside of bridges and summer.
The practical lesson: there's no single "profitability of Madrid." The profitability of your district, your building and your concrete typology exist and only by revising the local regulations and the historic actual demand of the area, and not an aggregate average of the whole Community.
What does this say for your decision
If your housing is in an area without restriction, with a valid or easy to get tourist license, and you are ready to be run by a dynamic training professional, the high stage of AirDNA can be reached: you can double or more the income from traditional rental. If your housing is in an area affected by the Reside Plan or similar regulations, or you have no intention of actively managing it, seasonal rental is usually the best risk-ratio option at 2026 and the traditional remains the option of lower profitability but of zero regulatory risk and zero dedicated.
In practice, the decision does not have to be final or exclusionary. Many owners we manage start with pure tourism in high season and pass to medium season in the months of lower demand, combining best of both models depending on their area's seasonality. It's a strategy that only makes sense with an active management that sets the model monthly, something that rarely does an automanagement owner for lack of time.
Keep reading
- How much a tourist rental management company charges
- Do you have a good place to rent at 2026? Honest verdict
- Tourist housing moratoriums 2026: Madrid, Barcelona and Málaga
- How much real rent a tourist apartment with actual portfolio data
FAQ
Do you rent more a tourist rental or a traditional rental in Madrid?
Depends on area, license and management. AirDNA puts the tourist's roof up to a 150% above the traditional one at best. The Economist document a fall in profitability and investor sales in Madrid capital because of regulatory uncertainty. Both are true in different contexts.
Why are there such contradictory data?
Because they measure different scenarios: AirDNA projects best employment and ADR. The Economist incorporates the actual impact of normative uncertainty (Plan Reside) that reduces effective profitability. The area, leave and management determine which of them you are in.
What's the Reside Plan and how does it affect profitability?
It's the strategy of the town council of Madrid to restrict tourist housing in residential areas: at the centre it only allows VUT in fully tourist or tertiary buildings and outside the centre requires independent and quota access. It reduces the number of legalizable housing units in areas with high demand.
What's season rental and why do you gain ground in Madrid?
It's a contract with less than 11 months covered by the article 3.2 of the LAU, with no tourist license required. Earns ground because it prevents the regulatory risk of VUT in restricted areas, holds a profitability higher than the traditional pure rental and reduces the management burden versus daily rotation of the tourist. It's an intermediate choice for owners who want profitability without exposure to moratoriums.
Is the tourist rough always better than the traditional net?
No. The tourist's gross is usually higher but we have to subtract OTA commission, management commission if you delegate, cleanup, supplies and months of low employment. In a housing with bad location or bad management, the traditional net can get close to or get beyond the poorly run tourist net.
What would your place really rent in your area?
Te decimos si tu zona está afectada por el Plan Reside u otra restricción, y qué rango de ingresos es realista con gestión profesional. Gratis, en 24-48 h.
* Sources: Idealist, price report for rental from Madrid Community and Madrid town, June 2026 (ideentia.com / sala-de-press / information-pestio-housing / rental /). AirROI, market data Airbnb Madrid 2026 (airroi.com / airbnb-data / pain / community-of-madrid / madrid). AirDNA, "Airbnb vs. traditional rental: investment strategies" and "What ROI should be expecting?," corporate blog 2026 (airdna.co / es- es / blog). The Economist, "The regulatory uncertainty and the lower profitability sink the tourist rental," Section Housing and Buildings, 2026. Market-oriented figures, and not a foresight of your concrete housing, with an approximate conversion of the ADR $/ €.