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Buying a home in Spain now requires a net monthly salary of almost €2,000 on average, according to a new study that highlights the growing affordability gap between the country's most expensive and least expensive property markets.

 

The research, carried out by Accumin Intelligence, the data and artificial intelligence division of appraisal company Tinsa, estimates that a buyer needs a net income of €1,999 per month to purchase an average home without exceeding recommended mortgage debt limits.

 

The calculation is based on a mortgage payment accounting for no more than 35% of a person's monthly income, a threshold widely used by financial institutions when assessing affordability.

 

Among the 60 Spanish cities analysed, San Sebastián was found to be the least affordable place to buy a home.

 

According to the study, a buyer would need a net monthly income of €5,074 to comfortably afford a typical 100m² property in the Basque city.

 

Barcelona and Madrid were not far behind, with estimated salary requirements of €4,485 and €4,574 per month respectively.

 

The report suggests these cities continue to experience intense demand driven by employment opportunities, economic activity and their status as major administrative and business centres.

 

The study identified 14 cities where buyers need a net monthly income of more than €2,500 to purchase a home.

 

Many are located in and around Madrid, Catalonia and the Basque Country, including Getafe, Móstoles, Alcalá de Henares, Badalona, L'Hospitalet and Bilbao.

 

The report also points to several well-known coastal destinations where property prices have moved beyond the reach of many local residents.

 

Marbella, Palma de Mallorca and Benidorm all require salaries significantly above the national average, something researchers attribute in part to strong demand from international buyers.

 

According to the study, foreign interest in these areas has helped push prices higher, creating a disconnect between local wages and property values.

 

For those considering a move to south-eastern Spain, the figures paint a rather different picture.

Murcia city was identified as one of the more affordable locations analysed, with a net monthly salary of €1,526 considered sufficient to buy a typical property under the study's criteria.

 

Almería came in at €1,727, while Castellón was even lower at €1,338.

 

Although these figures do not include the savings needed for a deposit, taxes or other purchase costs, they suggest that home ownership remains more accessible in these areas than in many of Spain's larger cities and popular international hotspots.

 

At the other end of the scale, Zamora emerged as Spain's most affordable provincial capital for homebuyers.

 

The study calculated that a net monthly salary of €1,279 would be enough to purchase a typical home there, making it the only city analysed where someone earning Spain's minimum wage could potentially buy a property without exceeding the recommended mortgage affordability limit.

 

Other affordable locations included Lugo (€1,322), Ciudad Real (€1,323) and Palencia (€1,339).

 

Researchers described many cities in Castilla y León, Castilla-La Mancha and Galicia as relatively stable markets with lower population pressure and more manageable house prices.

 

The findings underline the increasingly uneven nature of Spain's housing market. In some cities, buyers need salaries four times higher than those required in the most affordable locations. For many would-be homeowners, where they choose to live may now be just as important as how much they earn.

 

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