The real cost of owning your Spanish property as a non-resident?

The price of the property that we see in the advertisement is obviously not all the charges we will have to pay. While estimating the profitability of investing in Spain, you can not forget about the additional costs of maintaining the property.

These costs include:

  • official and notary fees,
  • property tax,
  • rent
  • electricity charges,
  • water charges,
  • property insurance.


There are, however, good news for investors - compared to other countries bordering the Mediterranean - in Spain, payment of these fees is not too expensive. Of course, the costs vary depending on the type of property and its location. You should remember that the cost of maintaining a modern villa with a private pool in the center of Alicante will be higher, compared to an apartment in the usual standard on the outskirts of cities.


Below are examples of costs of maintaining a property on the Costa Blanca - check if your capital expenditure pays off and do not be surprised by the additional fees.

private home in Spain
Family home in Spain

Taxes, official and notary fees

Within 30 days of receiving a notarial deed, a new owner of property in Spain must pay fees related to the registration of property, official and notarial fees, and total property tax. The amount of these fees is usually around 13-15% of the property value.


Property tax in Spain

Along with the purchase of real estate in Spain, there is an obligation to regularly pay tax on it, the so-called Impuesto Sobre Bienes Inmuebles (I.B.I). Real estate tax must be paid once a year, and the amount of fees depends on the square footage and location. Other words, owners of detached homes will pay a higher tax than investors who decided to buy an apartment. For example, the tax on an apartment of 60 m2 can be 200-400 euros and for 150 m2 villas 500-600 euros.


You should also remember that investors who are not permanent residents must also pay Spanish non-resident income tax - IRNR once a year. In this case, a different amount will be paid by people who rent the property and a other amount who do not use the property for a profit. However, even if the property is not rented, we will still be obliged to pay approx. 2% of the estimated rent.


Rent in Spain

The Spanish Comunidad, which is the equivalent of rent, is paid by people who have invested in an apartment in a block of flats or an apartment building. Such fees include various types of maintenance, gardening and cleaning works within a specific housing estate. Thanks to such funds, so-called common areas that can be used by all residents - e.g. a swimming pool, playground, squares or elevators.


No worries, Spanish comunidad doesn't have to be paid monthly. These types of fees are charged to residents once every 3 months, half a year, and even once a year. The frequency of payments depends on the decision that the homeowner associacion will make.


For example, if you decide to buy property in Costa Blanca without special facilities, the rent may be around 30-60 euros per month. However, if you are looking for a modern apartment located in an exclusive housing estate, you have to reckon that the rent will be much higher. For more expensive estates, you can find offers with a rent of up to 100-160 euros per month.


It is worth remembering that in Spain there are no comunidad for your own house with a plot.


Media fees in Spain

The costs of maintaining the property should also include utilities - electricity and water. Depending on how much electricity we use in a given month, we are obliged to pay so much. Iberdola and Endesa are the most popular power suppliers in Spain. It is estimated that for the apartment, the average monthly costs of electricity consumption are around 40-50 euros per person. Moreover, buying a flat in Spain, you have to remember that air conditioning, which is usually the standard equipment of the house or apartment, can generate higher electricity charges.


Let's move on to water charges, in Spain they are usually regulated once every three months or once a month. You should remember that there is also a waste disposal fee (Basura Tax), which payment is charged every few months or 1-2 times a year. Prices for m3 water vary depending on the region - e.g. in Andalusia it is EUR 1.80, EUR 2.23 in the Autonomous Community of Valencia and EUR 2.32 in the Balearic Islands.


Property insurance in Spain

Although you have no obligation to insure purchased property, you should consider it, just in case of a variety of random events. It is estimated that property insurance in Spain costs about 90 € per month, depending on the value of the insured property. However, sometimes the insurance offer looks better, e.g. using a bank offer, in which you take out a loan - bank can come to you with a very favorable insurance offer and the cost will be in the range of EUR 200-300 per year.


Do you need help finding a property on the Spanish Costa Blanca? Check properties for sale in Spain today and contact our specialists - they will help you easily go through the entire process of buying a house or apartment.



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