After purchasing property in Spain, it is essential to understand the ongoing annual and monthly costs associated with ownership. Below is a clear breakdown of the main expenses for both resale properties and new builds on Costa Blanca.
Property Tax (IBI – Impuesto sobre Bienes Inmuebles) is an annual local tax paid by every property owner. The amount depends on the cadastral value and municipal rates. For example, IBI in Torrevieja is generally lower than in Benidorm. The average rate ranges from 0.4% to 1.3% of the cadastral value. For an 80 m² apartment, the cost typically ranges between €250 and €600 per year and is usually paid annually through SUMA, which can also charge it automatically from your bank account.
Waste Collection Tax is another annual municipal fee for garbage collection and processing, usually costing between €100 and €200 per year depending on the municipality, paid once a year or in two installments.
Community Fees (Comunidad) apply to properties located in residential complexes or urbanizations and cover maintenance of shared areas.
These fees typically range from €50 to €180 per month depending on amenities such as pools, security, gardens, and elevators. In premium complexes with heated pools, large green areas, and spa facilities, costs can reach up to €200 per month.
Electricity costs include a minimum standing charge of €20–30 per month even if the property is not in use. Average consumption is around €50–80 per month for an 80–100 m² apartment and €100–200 for a villa of 150–200 m².
Water costs include supply and sewage, with a minimum charge of €10–20 per month and an average household usage of €40–80 per quarter.
Internet and mobile services typically cost €30–50 per month for high-speed fiber internet and €10–30 for mobile plans.
Home insurance is optional but recommended, costing around €150–300 per year for apartments and €300–500 for villas.
For villa owners, additional maintenance such as pool cleaning (€80–150 per month) and garden care (€50–150 per month) should also be considered.
If you would like a personalized breakdown of property costs or advice on choosing the right investment, contact Capital Union Investment today.
