How Much Do You Need to Earn to Buy a Flat in Spain?
You look at flat prices, you look at your payslip, and the sums don't work. Buying a home feels like a goal from another planet. But behind that feeling sit two very concrete numbers: how much you have to earn each month (so the bank approves the mortgage) and how much you have to have saved (for the deposit). Let's put figures on both.
First, the starting point: what a flat actually costs
The average price of housing in Spain is around €2,085 per square metre in 2026, and it hit an all-time high at the end of 2025, according to market data published by El Economista and the reports from idealista. The official reference figure is published by Spain's INE in its Housing Price Index.
But the average is misleading: an 80 m² flat can cost under €100,000 in a cheap area and go past €300,000 in the centre of a large city. For the examples we'll use realistic prices of €150,000, €180,000 and €220,000.
The bank's two filters
When you apply for a mortgage, the bank looks at you from two angles:
1. The monthly payment — the 35% rule
The unwritten (but effectively universal) rule is that the sum of your monthly loan payments must not exceed 35% of your net income. If you earn €2,000 net and have no other loans, your maximum payment would be around €700. That's how specialist sites such as iAhorro explain it, and it's the borrowing limit the Bank of Spain flags as prudent.
2. The deposit — 20% plus costs
Banks lend around 80% of the property's value. The other 20% is yours to put down, and on top of that come 10-12% in costs (taxes such as ITP or VAT, notary, land registry and conveyancing). All in, you need to have saved roughly 30-32% of the price before you sign.
The numbers: a €220,000 flat
With the Euribor at around 2.93% (August 2026), a fixed-rate mortgage sits near 3%. For a €220,000 flat over 30 years:
- Deposit (20%): €44,000
- Purchase costs (~11%): ~€24,000 → total savings needed: ~€68,000
- Mortgage (80%): €176,000
- Monthly payment (30 years, ~3%): ~€742/month
- Minimum net income (so that €742 is 35%): ~€2,120/month
Quick table by price
| Flat price | Savings needed (deposit + costs) | Approx. payment (30 years, ~3%) | Minimum net income |
|---|---|---|---|
| €150,000 | ~€46,500 | ~€506/month | ~€1,450/month |
| €180,000 | ~€55,800 | ~€607/month | ~€1,735/month |
| €220,000 | ~€68,000 | ~€742/month | ~€2,120/month |
Indicative figures for a single person with no other debts; if you buy as a couple, both incomes count. The payment depends on the interest rate and the term. This is not financial advice.
And what almost nobody calculates: when
Knowing you need €68,000 is useful. What really changes things is knowing how long it will take you to get there at the rate you're saving now. If you put aside €800 a month, those €68,000 are about seven years away — and you may already have part of it in savings or investments. That calculation is the one that tells you whether your home is around the corner or whether you need to push harder.
How Inveriok works it out for you
Instead of wrestling with a spreadsheet, Inveriok's mortgage calculator starts from your real numbers — your income, how much you save each month, your current savings and your investments — and tells you at a glance: the monthly payment you'd have, whether it fits inside your 35%, and above all when you'll have the deposit. No generic assumptions: it uses what Inveriok already knows about you.
And if it's all still fuzzy, start with the basics: working out how much you can genuinely save each month and setting yourself a savings goal with a date on it. The deposit on your home is, in the end, the most important savings goal you'll ever set.
Frequently asked questions
How Much Do You Need to Earn to Buy a Flat in Spain?
It depends on the price. Under the 35% rule, a €220,000 flat (a payment of about €742 a month) means you need roughly €2,120-2,175 net a month; for a €150,000 one, around €1,450. Buying as a couple, both incomes count.
How much do I need to have saved to buy a flat?
The 20% deposit plus 10-12% in costs: around 30-32% of the price in total. For €220,000 that is about €68,000; for €150,000, about €46,500.
Are there 100% mortgages?
They are uncommon. Some banks lend more than 80% in specific cases (properties the bank owns, very solid borrowers, or a guarantor), but the norm is to put down 20% plus costs. Don't count on 100% as your plan A.
What does the average flat cost in Spain?
The average price is around €2,085 per square metre in 2026, having hit a record at the end of 2025, though it varies enormously by area. An 80 m² flat ranges from under €100,000 to over €300,000 depending on the city.
Sources
- INE — Housing Price Index (official price data).
- El Economista and idealista/news — average housing prices 2025-2026.
- Rankia — Euribor, August 2026.
- iAhorro and Bank of Spain — the 35% rule and prudent borrowing.
Disclaimer. This article is informational and uses average, rounded figures as an illustration; your own case depends on the actual price, the interest rate, the term and your profile. It is not financial advice, nor an offer of credit.