You will fulfill your dream buy an apartment in Spain, you will finally be able to come to this wonderful place, enjoy the sun and delicious food, you will recharge ” batteries” here.
Remember, however, that so are the costs of maintaining a property in Spain.
Property maintenance costs in Spain
When you purchase a property that has, for example, two bedrooms and a living room, located in a residential area with a swimming pool, the rent, known as the “rent. “comunidad”, will range from 40-120 euros per month, payable every 6 or 12 months.
In high-end properties with several swimming pools, large tropical gardens, a spa complex, which on top of that are located in exclusive locations, the comunidad can reach 100-240 euros per month.
The amount of fees is mainly determined by the size and quality of the common areas for the location, i.e.: gardens and swimming pools, the number of elevators in the buildings, the presence of security guards, the extent of the area, etc.
Added to the cost will be the annual Property tax, so-called. “IBI”. Its amount is set by the local municipal authorities individually for each property and is payable once a year, in October.
This is a municipal tax, calculated by the city office (Ayuntamiento) having jurisdiction over the location of the property. It is calculated annually on the basis of the cadastral value of the property, which is usually lower than the market value. It amounts to more than 0.4% of the cadastral value.
Electricity payment in Spain is made monthly. It is important to remember that whether you are staying in a property or not every month you are obliged to pay your electricity bill.
If it happens , that we forget to pay two two consecutive months, the electricity in the property is automatically turned off. Re-engagement is an additional cost.
Water payment is made every two months (garbage collection is also included in this bill.
We can make a standing order with the bank for these institutions to charge the account.
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