Real Madrid have mediated an agreement for Bale to move into the four-bedroom property.
Kaka's house is located in Madrid's central commercial region of La Finca in Pozuelo de Alarcón. The area is already home to Real Madrid stars Cristiano Ronaldo, Karim Benzema, Iker Casillas and Sergio Ramos.
According to Spanish newspaper Mundo Deportivo, Bale is paying €12,000 (£10,000) a month to rent the two-storey home which is worth an estimated €7.2 million (£6 million).
The luxurious property, built over an area of 1,500 square metres, boasts a large living room with a dining area able to accommodate a large number of guests. It also has a 400 square metres basement, a six car garage, indoor gym and swimming pool, two utility rooms and several terraces and porches.
Kaka is currently on loan at Serie A side AC Milan. Welshman Bale joined Real Madrid from Tottenham on 1st September for a world record £86 million fee.
image: © andybrannan