Property maintenance costs in Spain in 2024
In Spain, property maintenance costs cover taxes, insurance, management company fees and utility bills as well as monthly mortgage obligations for those who leveraged their apartment or house acquisition. There are additional expenses for inexpensive property requiring renovation.
It costs €1,800–2,500 a year on average to maintain Spanish property.
Taxes
Homeowners pay annual property tax (impuesto sobre bienes inmuebles por or IBI) at a rate of 0.4 – 1.1% that is the same for both residents and non-residents and varies by location and property type.
On top of that, each city imposes a separate maintenance tax for services like utilities and waste removal that costs a few hundred euros per year.
Lessors pay the income tax (impuesto sobre la renta de las personas fisicasor or IRPF) valued at 24% of their income.
Non-residents also pay a special wealth tax (impuesto extraordinario sobre el patrimonio or IP) varying from 0.2% for properties worth up to €167,000 to 2.5% for properties over €10,700,000.
Read more about taxes in Spain
Insurance
Banks may request owners to take out insurance on mortgaged properties and it costs about €300 per year to insure a house of €170,000.
Insurance usually covers damage caused by fire, explosions, storms, flooding, earthquakes, water or oil leaks from the heating system, vandalism and burglary.
Management company fee
Maintenance services provided for the garden, pool and common areas within a residential complex cost €0.5–1.25/sq. m. per month.
The maintenance of villas with private pools and gardens may cost €1,500–2,000 per year.
Owners of apartments in a residential complex are automatically eligible for membership to the residents' association that decides which management company is to be engaged.
Utility bills
Homeowners pay €60/month on average for electricity. Gas, water and waste removal cost another €50.
Repairs
Property that needs renovation is often cheaper and gives owners the chance to furnish it to their taste, however, caution is recommended when choosing the contractor to conduct the work, as cheapest might turn the dearest.
Average repair costs in Spain:
- major renovation licence issued by the authorities — €500;
- removing a wall — €150;
- tiling — €35/sq. m.;
- heating system installation — €3,000 for 90 sq. m. house;
- electrical fittings and lighting — €1,500;
- pipe replacement — €3,000–4,000;
- exterior design renovation — €10,000–18,000.
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