Annual expenses for real estate in Spain

Annual expenses for real estate in Spain

Yearly Expenses

Buying a residential property in any country, and particularly in Spain, implies also expenses on maintaining it. What do the responsibilities of apartment owners include? How much money do the taxes and charges take? You need to know at least the approximate expenses on utility fees and tax payments. Also it is important to know that if you are not a resident of Spain, you’ll have to pay the individual income tax, and this is 25% of 2% of the cadastral value of real estate in Spain. This is the case even for those who have bought an apartment in Alicante for their own use and do not have any income from it (do not rent it out). To avoid paying this tax, we recommend you toobtain a residence permit (RP) with our agency’s assistance. The money paid for this service will be compensated quickly. Let’s consider the future expenses at particular examples.

For a residential property in Alicante

For the maintenance of your residential property in Alicante, Spain, you’ll spend approximately the following:
— The IBI tax (community tax): 
100—150 per year.
— The tax if you aren’t a resident: 
20—100.
— The “comunidad” (cleaning the staircase, trash pickup, etc.): from 
6 per month.
— Electricity: 
20—60 (depending on the intensity of your use of it).
— Water: 
15—40 (depending on the intensity of your use of it).

Yearly expenses on a residential property in Torrevieja:

For the maintenance of your apartment in Torrevieja, Spain, you’ll spend approximately the following:
— The IBI tax (community tax): 
150—250 per year.
— The tax if you aren’t a resident: 
100—150.
— The “comunidad” (cleaning the staircase, trash pickup, etc.): 
150—500 per year (the amount depends on the type and location of the apartment in Spain).
— Electricity: 
20—60 (depending on the intensity of your use of it).
— Water: 
15—40 (depending on the intensity of your use of it).

If you have bought an apartment in Spain, and you want the expenses on the residential property to be unburdensome, rent your apartment out via our real estate agency. We’ll organize the search for tenants through popular advertising platforms, move the dwellers in, and also watch their departure. After thatwell tidy up the apartment. The service will cost you 15% of the cost of apartment rent in Spain. Also we suggest that you should use the additional “Consierge Service” where you’ll be provided with all the services on repairs, procurement arrangements, and small household issues.