The Spanish online publication 20minutos published an example calculation on 3 September 2026 showing how much income is needed to finance a €300,000 flat with an 80 per cent mortgage. The assessment, based on current market data, shows which factors make the difference.
According to the property portal Idealista the national average price in August 2026 was around €2,924 per square metre. For a purchase price of €300,000, a bank would typically finance €240,000 with an 80 per cent loan-to-value ratio. The buyer must contribute the remaining €60,000 from their own funds. This sum covers only the unfunded part of the purchase price; it is in addition to the purchase costs.
Additional costs depend on whether the property is a new build or an existing home. For a first purchase from a developer, value added tax (IVA) is generally payable, together with the tax on documented legal acts (AJD) where required under regional law. For the purchase of an existing property, the Property Transfer Tax (Impuesto sobre Transmisiones Patrimoniales) applies instead, with the rate varying by Autonomous Community . Notary, land registry, valuation and, where applicable, estate agent fees are added. In practice, these items add up to a mid-four-figure to low-five-figure sum in euros and must be paid from savings.
For creditworthiness assessments, banks measure affordability using the debt-to-income ratio: monthly interest and capital repayments, together with other ongoing loan commitments, should generally amount to no more than around 30 to 40 per cent of disposable net income. This is the guidance of both the consumer information service of the Banco de España and standard bank benchmarks. The precise amount depends on the interest rate, the fixed-rate period, the term, when repayments begin and any possible residual debt at the end of the term. A lower nominal interest rate and a longer term reduce the monthly payment, but increase the total cost over the years.
Buying a €300,000 flat with 80 per cent financing requires, in addition to the buyer’s contribution towards the unfunded purchase price, reliable savings for taxes and fees and a stable household income that meets the debt-to-income ratio required by banks. Anyone planning to take this step should calculate additional costs precisely in their target area, compare several offers and check the monthly payment against their income using simulations provided by banks.
Editor: Daniel Mayer (Article created with AI assistance).