Spain is primarily famous for being a country leader in the construction of "leisure property" (apartments, villas, townhouses, cottages, etc. Types of housing), or the so-called "residential tourism". According to statistics from all regions of Spain, the most developed and most popular in terms of residential tourism is Andalusia (it consists of 8 provinces), but more precisely the Costa del Sol: the area of Marbella, Estepona, Benahavis ("New Golden Mile": the segment between Marbella and Estepona, the "Golden Triangle": Marbella, Benahavis, Estepona" and the most prestigious "Golden Mile" (from Marbella to Puerto Banus and up towards the Sierra Blanca).
Even experts in the field of construction claim that it is here, in these areas, that the highest quality apartments and villas in the Costa del Sol are being built (both in terms of construction standards and aesthetics and design).
The answer to the question why this particular market is so popular is simple: the Andalusian construction market began to develop earlier than all other regions of Spain - from the middle of the last century (from the 60s). It began to master the British, Germans, Irish. Their influence is still present in construction and infrastructure to this day. Therefore, it is Marbella (the municipality of Marbella) that is the most "European" among all regions not only of Andalucia but of all of Spain.
Of course, this fact is reflected in the cost of apartments in the Costa del Sol: the price here is significantly higher than in other regions.
However, one thing is the purchase price and quite another - the cost of maintenance. But the maintenance of housing is quite "affordable" not only for residents of the rest of the EU countries (where taxes are high, utility bills, etc.)
Here we will talk about specific numbers: how much does it cost to maintain an apartment in the Costa del Sol.
It has already been written in more than one article on our website what kind of payments the maintenance of housing in Spain consists of. It will not be superfluous to repeat:
- Annual municipal property tax - IBI, which is paid before September 12th. In each region, it is set by local authorities; in Andalusia (and, accordingly, on the Costa del Sol), it is approximately 0.1% of the cadastral value of housing. Accordingly, the more expensive and newer the apartments, the higher the IBI will be.
For example. The cost of apartments in the Costa del Sol is 250-300.000 euros (apartment with 2 bedrooms about 100 m2 +/- + terrace area, as well as a garage and storage room, which are almost always included in the price).
The tax will be from 300 euros per year. If this is a new apartment and is located in an expensive and prestigious area, then IBI can reach up to 500-600 euros, if this is the Benahavis area, then here taxes are low and communidad is also low (about 200 euros per year).
By the way, the Benahavis area is now "at the peak" of popularity. At the moment, it is considered one of the richest and most prestigious areas of the entire coast (except for Marbella and Puerto Banus) due to its importance to the treasury of Andalusia and local authorities. And the other side is low taxation. The area is located at a distance from the sea from 2.5 to 7 km (the center of Benahavis is located 7 km from the sea), but there is magnificent nature, stunning panoramic views of the sea and everything is “immersed” in greenery.
Accordingly, if the apartments in the Costa del Sol are priced higher, then the tax will be significantly higher. In Puerto Banus, the price of apartments will be much higher, even for secondary real estate, due to the popularity and prestige of this area. Even if the cost of apartments is up to 1,000,000 euros, then IBI can be more than 1,000 euros per year. Although it really depends on the specific apartment or penthouse. The total area of housing also matters here.
- Condominium / communidad or payment for maintenance in the complex / urbanization. It depends not only on the complex itself, but also on its location (like IBI). Near the beach, all complexes are more expensive and prestigious, but at a distance there are both inexpensive urbanization options and elite well-maintained complexes. This fee includes: care and cleaning of the common territory of the complex (cutting plants if necessary, garbage disposal, monitoring the cleanliness of walking paths, etc.), cleaning of swimming pools. For residents, this fee also includes the use of all the facilities of the complex (except for paid - additional services, if any): a gym, swimming pools, bars - if any, saunas with a jacuzzi, etc. Of course, this fee also includes the maintenance of a centralized security / 24-hour security system at the entrance to the complex where blocks or buildings with apartments are located.
The minimum fee for maintenance in the complex can be about 150 euros per month (as a rule, there are such urbanizations in Benahavis). But it is the complex itself, its location that greatly affects these payments. You can count on 1.500 - 1.700 euros per year for the maintenance of inexpensive apartments in the Costa del Sol. But in reality, the fee can be 2.000 euros and more. In Puerto Banus, Marbella and its prestigious areas) from 2500 euros per year (regardless of the price of the apartment). Even if the apartment is inexpensive - up to 500,000 euros - the payment in urbanization is always the same for all residents!
- Utility payments: water, electricity, telephone. They range from 30 to 50 euros per month, depending on consumption. With minimal consumption (or no consumption), only a subscription fee is charged. During the summer season, when the air conditioners are in operation, the fee is usually the highest. It also depends on the size of the apartment. The price per liter of consumed water or per kW of electricity is set by law, therefore it is fixed.
- Alarm. In addition to security, any apartment in the Costa del Sol has an alarm system (video intercom), which is also paid monthly - 15-20 euros per month. This price also depends on the company that installed alarms in all apartments in the complex. Basically, alarm systems in new complexes are installed in all apartments. Also with secondary housing: an alarm system is usually installed. It is necessary so that, if necessary, the signal arrives at the central post. Although such cases practically do not happen, because. Costa del Sol is the safest place with the lowest crime rate!
In general, the annual maintenance of apartments in the Costa del Sol 250 - 300.000 euros, 2 bedrooms / 2 bathrooms, living area + terrace 100m2 +/- will be approximately 2600 euros +/- if it is an apartment in a "middle level" complex. There are also more budget options (the aforementioned area of Benahavis) or, on the contrary, very expensive ones - elite urbanizations in San Pedro, La Quinta, Puerto Banus or Marbella (the amounts can approach 4,000-5,000 euros per year and more).
As can be seen from the real figures, it is quite affordable to maintain an apartment in the Costa del Sol. And even by pan-European standards, it is very inexpensive.
