How much do you need to earn to buy an apartment in Spanish cities?

In many countries it is difficult to buy and/or rent a property. This is also the case in Spain. This is due to a combination of factors, including the shortage of housing supply and high house prices. But there are also other reasons for young people, such as uncertainty in the labour market. How much do you actually have to earn to be able to buy an 80m2 apartment in different Spanish cities? 

Every year it becomes more difficult to buy a house or to be able to pay a mortgage. And every year, a higher percentage of earned income is needed to spend on housing costs. Experts believe that the maximum amount to invest in these expenses should not exceed 30% of gross income minus any debts. 

A figure that the Bank of Spain has even raised to 35%. According to this calculation, for example, someone with an average net salary of about €1,500 should not spend more than €450 per month on rent. However, the current situation makes it increasingly difficult to meet this financial requirement . 

Here, the salary required to buy an apartment is the highest 

The Spanish bank Bankinter published on its website how big the investment is to buy a house in Spain and how much you need to earn. According to the data collected, Gipuzkoa is the province where the salary to buy a property is the highest. The average gross annual salary required by a resident is €26,104. This surpasses the Basque province of Madrid, with a gross annual salary of €26,084 required, and Bizkaia, third, with a gross annual salary of €25,643 needed. 

In fourth place is Navarre. There, someone must earn a gross annual salary of €25,060 to be able to buy a house of 80 square metres. Whereas, in Barcelona, for example, a person should earn a salary of €24,876 gross per year. 

And here, a lower annual salary will suffice 

In Lugo, Galicia, on the other hand, the salary does not have to be as high. To buy a house of 80 square metres, a gross annual salary of €21,109 is needed. This is followed by other provinces such as León (€21,673), Las Palmas de Gran Canaria (€21,726) or Segovia (€21,930).