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Taxes and utility costs in Spain
Everyone who acquires property in Spain needs to know what taxes must be paid when buying and how much is the maintenance of real estate in Spain per month. This really helps to plan your budget and limits your purchases from the appearance of "unpleasant surprises” and expenses.
- property tax;
- utility payments;
- insurance of real estate.
Property tax in Spain:
In Spain, the annual real estate tax ranges from 0.5% to 2% of the cadastral value of real estate. According to the constant rise of prices for real estate in Spain, it is about 10 times less than market value of property.
Utility payments in Spain:
Those who own apartments located in buildings with the common staircase, courtyard and other infrastructure have to pay about 300-500 euro for its maintenance per year.
For owners of individual houses, this scrip depends on urbanization and is about 300-800 euro per year. The additional costs of maintaining home in Spain include payment of gardener from 80-200 euro per month, cleaning the pool 50-120 euro per month and clean the house from 7-10 euro per hour.
In Spain major utilities are paid by meter reading. However, there is mandatory quarterly fee for water and electricity 15 euro. It is mandatory, even if nobody lives in the house.
Cost of electricity is 0.09 euro per kW.
Monthly subscription for telephone and internet is 39 euro. Cost per minute of phone call within the city is 0.03 euro.
In some municipalities of Spain fee for garbage is not charged. But if your apartment is located in complex or in the cooperative, the fee for garbage is included in the monthly payment for the maintenance of the complex. For individual houses charge for garbage removal ranges from 30 to 50 euro per year.
Property insurance in Spain:
In Spain property insurance is voluntary. It’s just mandatory to insure property purchased on credit. The annual payout is 0,1-0,15% of the sum insured.
The total cost of maintenance of property in Spain, for the area of 100 square meters is 600-800 euro per year.
Also read: The payment of property taxes when purchasing the estate and utility costs for estate in Croatia
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Describe your property - detailed description helps to a greater demand
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