Fixed costs after buying a property in Spain18.02.2018
Some recurring fixed costs after buying home in Spain.
Real Estate Tax (Impuesto sobre bienes inmeubles): The owner of a house in Spain pays between 0.4% and 0.8% property tax. The percentages vary from municipality to municipality.
Service costs: This of course only applies if you buy an apartment or a house in an urbanization. To keep track of and maintain the common parts of the complex or the urbanization, you must pay a monthly contribution. The level of service costs varies from 50 Euro to approximately 150 Euro per month in a very luxurious golf resort and depends on the services and facilities provided. On average, the amount is around € 75 per month.
Water and electricity: Of course this is highly dependent on how much is consumed. If one is present the whole year, it comes down to € 100 per month in normal use. If the house is only intended for personal use and only occasionally comes on holiday, this is much less.
Basura (cleaning tax): This amount is different again per municipality, but usually amounts to around € 80 to 100 per year.
Insurance: Not mandatory but recommended! Depending on the value of the home, the location, the security, etc., a household contents and home insurance costs approximately € 200 per year.
Do not forget the costs when buying a property in Spain