Property prices in Spain and main additional costs

If you are looking for property in Spain with a view to moving there, the first question is usually the same: how much will it cost? And there is no single figure for the whole country. A flat in Madrid or Barcelona will cost very different amounts from a property in Alicante, Seville or a smaller town. Rental costs also vary considerably — especially when comparing the centre of a major city with its outskirts or smaller towns.

When buying or renting, it is important to look beyond the price of the flat itself. Clearly, the area, condition of the property, proximity to the sea and transport links all matter, while buying also involves taxes and other costs.

Contents:

• How much does property cost in Spain?
• How much does it cost to rent property in Spain?
• What additional costs should you take into account?

How much does property cost in Spain?

Property prices in Spain vary considerably depending on the region and city. Prices are noticeably higher in major cities and popular coastal areas, while property can be significantly cheaper in smaller towns and areas further from the coast. At the same time, within each city, the area and characteristics of the particular property also have a major impact on its price.

If you look at statistics for different cities, the difference becomes particularly noticeable. In August 2026, the average asking price was around €6,471 per m² in Madrid, €5,440 in Barcelona, €3,938 in Malaga, €3,469 in Valencia, €2,924 in Seville and €2,759 in Alicante.

For illustration, we can take a 70 m² flat and see approximately how much it would cost in each of these cities. The table shows the average price per m² for each city and calculates the approximate cost of a flat of this size.

Of course, this is only an approximate calculation. The actual price of a flat depends on the area, the condition of the property, the floor, the size, whether it has a terrace and other characteristics. In addition, these are asking prices from property listings, rather than the prices of completed transactions.

How much does it cost to rent property in Spain?

Rental costs, like purchase prices, vary considerably from city to city. Property is most expensive in Madrid and Barcelona, while the average price is lower in Valencia, Seville and Alicante. At the same time, there can also be a very significant difference between areas within the same city. Prices are influenced not only by the location and size of the flat, but also by its condition, whether it is furnished and other characteristics. The popularity of an area also affects the number of properties available: in sought-after areas, there are often far fewer suitable options.

In August 2026, the average asking price for long-term rentals was €23.3 per m² per month in Madrid, €20.2 in Barcelona, €16.5 in Malaga, €16.3 in Valencia, €13.5 in Seville and €12.7 in Alicante.

For example, let us take the same 70 m² flat and calculate approximately how much its rent would cost in each of these cities. The table shows the average monthly rental price per m² and the approximate monthly rent for a flat of this size.

As with buying property, these are approximate asking prices from property listings. The cost of a particular flat may be higher or lower depending on the area, size, condition of the property, whether it is furnished and other characteristics.

💡 Where to look for property in Spain

One of the most popular services for finding property in Spain is Idealista. Here you can search for both flats and houses for sale, as well as long-term rental options.

What additional costs should you take into account?

The price of the flat or the rent is not the only expense to consider. When renting, some additional costs arise each month, while when buying, taxes and transaction costs are added to the property price.

Additional costs when renting

When renting a flat, you usually need to take into account utility bills — electricity, water and gas, if it is used. Internet and mobile phone services are paid separately. In some cases, part of these costs is already included in the rent, so it is best to clarify this before signing the contract.

For a flat of around 70–90 m², you can budget approximately €150–260 per month for electricity, water, gas and internet on average. This is a very rough guide: costs can increase noticeably in winter due to heating and in summer because of air conditioning. In a flat without gas or with low consumption, the amount may, accordingly, be lower.

When signing the contract, you will also need to pay a deposit (fianza). For a standard long-term residential tenancy, this is generally equivalent to one month's rent. If the flat is rented through an agency, the agency fee for a standard residential tenancy is legally paid by the owner.

Additional costs when buying property

When buying property, the costs depend primarily on whether you are buying a new-build flat from a developer or a property on the resale market. When buying a new property, VAT (IVA) is usually charged at a rate of 10%, while when buying a resale property, property transfer tax (ITP) applies, with the rate depending on the autonomous community.

In addition to taxes, you need to take into account notary and registration fees, and, if necessary, legal fees, mortgage costs and other payments. On average, you should budget approximately 10–15% of the property price for all additional costs when buying a property.

For example, if a flat costs €200,000, it is sensible to have an additional €20,000–25,000 available for taxes and transaction costs. Again, the exact amount will depend on whether you are buying a new-build or resale property and which region the property is located in.

After buying, there are also annual costs associated with maintaining the property. First and foremost, these include property tax IBI, comunidad fees for maintaining the communal areas of the building, as well as insurance, utility bills and internet. If the residential complex has a swimming pool, garden, lift, security or other shared facilities, comunidad fees also form part of the owner's ongoing costs.

💡 Useful to know when planning your move:

• Pros and cons of living in Spain — what you should consider before moving and which aspects of life in the country may prove important.
• Getting an NIE in Spain — a step-by-step guide to obtaining a foreigner's identification number and the situations in which you will need it.
• Empadronamiento in Spain — how to register your place of residence and why this registration is needed after moving.
• Cost of living in Spain — how much you can expect to spend on transport, groceries and other everyday expenses on average.