Property expenses

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This topic contains 5 replies, has 4 voices, and was last updated by Profile photo of Anonymous Anonymous 4 years, 3 months ago.

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  • #57027
    Profile photo of Anonymous
    Anonymous
    Participant

    Property expense:

    Could any one please tell how much would be annuel taxes and variable costs (approximately) for an appartement worth €100’000 in the center of Barcelona or any other similar cities?

    1 – Income tax for non-residents (IRNR) = €250 (I have this figure)
    2 – Wealth tax : less than €700,000 = €0 (I have this figure)
    3 – Municipal property tax (IBI) = ?
    4 – Other taxes (rubbish collection) = ?
    5 – home insurance?
    6 – Electricity, water, heating for one person = ?
    7 – Maintenance, service charges = ?
    8 – Any other taxes= ?

    Thanks

  • #111898
    Profile photo of Anonymous
    Anonymous
    Participant

    Can’t help with Barcelona, but for my 3 bed apartment in Andalucia

    1 – Income tax for non-residents (IRNR) = €250 (I have this figure)
    2 – Wealth tax : less than €700,000 = €0 (I have this figure)
    3 – Municipal property tax (IBI) = 500
    4 – Other taxes (rubbish collection) = 200
    5 – home insurance? = 300
    6 – Electricity, water, heating for one person = Possibly around 1200???
    7 – Maintenance, service charges =
    8 – Any other taxes= ?

  • #111901
    Profile photo of Anonymous
    Anonymous
    Participant

    Thanks for the response. Therefore if we add another 1’200 Euros for maintenance / service charges, the total property expenses will mount approximately to 3’650 Euros per year for a non resident and a 100’000 Euros worth appartment. So for 6 months living in Spain, the cost will be 600 Euros per month plus depreciation / amortization of your investment. Well Spain is not that cheap any more.

    Cheers

  • #111906
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @Josef99 wrote:

    Thanks for the response. Therefore if we add another 1’200 Euros for maintenance / service charges, the total property expenses will mount approximately to 3’650 Euros per year for a non resident and a 100’000 Euros worth appartment. So for 6 months living in Spain, the cost will be 600 Euros per month plus depreciation / amortization of your investment. Well Spain is not that cheap any more.

    Cheers

    jp1 quotes 100€ per month. I would aswell. But I live with my partner and 2 children (young). as you can imagine with young children you bills tend to be high. Yet my bills tend to be about 100€
    By IBI is about 550,
    Basura, 90€
    maintenace/service charge in my case 80 per month. But depending on the community and what it offers it could be 20€ per month or run into the hundreds.

    But as you are looking/thinking about buying in a major metropolitan area, I would assume your local taxes could be quite a bit higher.

  • #111907
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @fuengi wrote:

    @Josef99 wrote:
    Thanks for the response. Therefore if we add another 1’200 Euros for maintenance / service charges, the total property expenses will mount approximately to 3’650 Euros per year for a non resident and a 100’000 Euros worth appartment. So for 6 months living in Spain, the cost will be 600 Euros per month plus depreciation / amortization of your investment. Well Spain is not that cheap any more.

    Cheers

    I live with my partner and 2 children (young). as you can imagine with young children you bills tend to be high. Yet my bills tend to be about 100€.
    By IBI is about 550,
    Basura, 90€
    maintenace/service charge in my case 80 per month. But depending on the community and what it offers it could be 20€ per month or run into the hundreds.

    But as you are looking/thinking about buying in a major metropolitan area, I would assume your local taxes could be quite a bit higher.

  • #111923
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi,Josef
    I note that you are inquiring about household expenses in Barcelona or similar cities
    My Spanish Property is located 90mins from Barcelona in a beatiful,well run city with wonderful amenities(it is a hidden jewel,we wish to keep it that way,wild horses would not drag the name of city from me)
    My property is a top floor one-bedroom 40 sq metres flat in a converted house(no lift)in a dream location in the city centre,with 6 flats in total ,2 on each floor
    I use it for 4-5 months each year,generally between March and October
    My running costs are under €2,000 a year,as follows
    1.Electricity €320 per annum
    2.Water charge €150 pa
    3.IBI €95 pa
    4.Refuse €122 pa
    5.Orange broadband,Tv,phone €500 pa
    6.Community charges €120 pa(not a typing error!)
    7.Community insurance €100pa
    8.Private contents Insurance €150
    9.Bank charges €50
    10.IRNR+solrs fee €150
    I purchased for €120k in June 2007-I estimated at the time that a similar property in Barcelona would have cost about €230k
    I am a single male individual (retired )
    Some of these charges are low(no lift to maintain,valor catastral not recently revised)but if you buy carefully it should be possible to get away with annual running costs of €2,500 region in a city near Barcelona-(6 months usage) -running costs in Barcelona itself could be very high
    Even in the present difficult situation I would be astounded if €100k would get you anything acceptable in Barcelona
    It would,however,secure you a very nice apartment in a city in Catalonia,offering a very good quality of life and easy access to the great city when desired

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