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Where can you afford to buy a house in Spain if you receive an average salary

For better and for worse, Spain is a country of contrasts. And we are not referring only to the cultural or political differences that may exist between territories: depending on where you live, accessing a home will be very easy or practically impossible if you do not buy it with another person.

That is the conclusion we have reached from HelpMyCash after calculating how much salary you should dedicate to the payment of your mortgage payments if you bought a second-hand house or apartment of 80 square meters in each province of Spain (new housing represents a very minority part of the market). Take a look at the data and find out if you can afford affordable housing in your area!

Sources and calculation hypothesis: to calculate the average mortgage burden in each province and the income that would have to be paid to buy an average second-hand apartment we have used data from the College of Registrars of Spain (average price of used housing by province), the National Institute of Statistics (average wage cost per autonomous community) and the websites of the autonomous communities (ITP). We have also taken into account for the calculation that a mortgage of 80% would be contracted on the price of the house, with a term of 25 years and an average interest of 3.5%.

Salary you would spend on the mortgage payment in each province

One of the indicators that serve to know if you can afford to buy a house is the mortgage burden. This is a percentage that represents what portion of your salary you dedicate to paying the mortgage used to finance the operation. Ideally, according to the Bank of Spain, this burden should not exceed 35%.

From HelpMyCash we have calculated the mortgage burden that you would have to assume in each Spanish province if you bought a used apartment of 80 square meters with a mortgage and covered the average salary of each autonomous community. In this table you have all the data:

Province Average mortgage burden
Ciudad Real 11,21%
Basin 12,36%
Jaén (Spain) 12,42%
Teruel 13,14%
Badajoz 13,71%
Zamora 13,78%
Toledo 14,14%
Albacete 15,03%
Cáceres 15,16%
Avila 15,44%
Soria 15,47%
Lion 15,58%
Orense 16,36%
Palencia 16,52%
Lugo 16,57%
Córdoba 17,93%
Castellón (Spain) 18,85%
Segovia 18,85%
Guadalajara 18,95%
Burgos 19,96%
Almeria 20,14%
Asturias 20,36%
Lleida 20,44%
Murcia 20,70%
La Rioja 20,75%
Salamanca 21,63%
Grenade 21,96%
Valence 21,97%
Huelva 22,34%
Valladolid 22,56%
Tarragona 22,57%
Huesca 22,97%
Saragossa 24,55%
Navarre 24,62%
A Coruña 25,39%
Alicante 26,77%
Cadiz 27,16%
Seville 27,88%
Pontevedra 28,11%
Cantabria 28,62%
Alava 30,75%
Girona 32,25%
Biscay 36,04%
Barcelona 39,98%
Santa Cruz de Tenerife 41,06%
Las Palmas 41,14%
Malaga 41,35%
Madrid 43,45%
Guipúzcoa 45,55%
Balearic 53,12%

As you can see, if you receive an average salary, hiring a mortgage in the provinces of emptied Spain is more than affordable: the fees would eat less than 20% of your salary. In areas such as the Balearic Islands or Malaga, the north of the Basque Country or Barcelona and Madrid, on the other hand, you could not afford a mortgage only on your own, because the mortgage burden would exceed 35%.

How much savings would you pay in each province to buy a home?

The fee, however, is not the only thing you will pay if you buy a home. To begin with, the mortgage will finance a maximum of 80% of the price of the property, so you will have to cover the remaining 20% with your savings. In addition, you will also have to pay taxes and other expenses associated with the sale, which will be different depending on the autonomous community in which the signature is formalized.

And in which regions would you pay less for these concepts? In the following table you can see how many savings you would need on average in each province if you buy a second-hand home with an average price and an area of 80 square meters:

Province Average savings
Ciudad Real 14.639,20€
Jaén (Spain) 15.206,40€
Badajoz 15.635,20€
Basin 16.147,20€
Cáceres 17.292,80€
Zamora 17.337,60€
Teruel 17.561,60€
Toledo 18.467,20€
Avila 19.420,80€
Soria 19.465,60€
Lion 19.600,00€
Albacete 19.627,20€
Palencia 20.787,20€
Orense 21.738,40€
Córdoba 21.967,20€
Lugo 22.016,80€
Segovia 23.721,60€
Almeria 24.667,20€
Guadalajara 24.754,40€
La Rioja 24.926,40€
Burgos 25.110,40€
Murcia 25.603,20€
Castellón (Spain) 26.376,00€
Grenade 26.892,00€
Salamanca 27.216,00€
Huelva 27.367,20€
Asturias 27.932,80€
Valladolid 28.380,80€
Huesca 30.688,00€
Valence 30.744,00€
Saragossa 32.793,60€
Cadiz 33.264,00€
Lleida 33.408,00€
A Coruña 33.732,80€
Seville 34.149,60€
Navarre 34.985,60€
Tarragona 36.888,00€
Pontevedra 37.352,00€
Alicante 37.464,00€
Cantabria 40.392,00€
Alava 44.083,20€
Santa Cruz de Tenerife 46.915,60€
Las Palmas 47.000,40€
Malaga 50.652,00€
Biscay 51.667,20€
Girona 52.704,00€
Guipúzcoa 65.299,20€
Barcelona 65.328,00€
Madrid 67.288,00€
Balearic 71.881,60€
MEDIA SPAIN 40.881,76€

Again, you would need less money saved if you bought a house or a flat in the provinces of emptied Spain; mainly because housing is much cheaper in those regions. On the other hand, this ticket would be much more expensive in areas with much higher prices such as the Balearic Islands, Madrid, Barcelona, the Basque Country or Malaga.

In conclusion…

  • Buying a house is much more affordable in emptied Spain: provinces of the Castile, Extremadura, northern Andalusia, Aragon…
  • In the most economically powerful areas, such as Madrid and Barcelona, the Basque Country, Malaga or regions with a lot of tourism, it is practically impossible to buy a home alone on your own if you receive the average salary. You will need to purchase it with another person to be able to pay the fees.
  • Young people have worse access to home ownership in the more populous provinces, because more savings are needed there and, in many cases, they have not had time to save as much.

Attention! Keep in mind that we have prepared this study with average data on the price of housing and the salary of each province or autonomous community. Therefore, the conclusions do not have to adjust to your personal situation if you find a house more expensive or cheaper than the average or if you charge more or less than the average.

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