According to a report by the financial comparison platform iAhorro, buying a property alone in Spain is becoming increasingly difficult, with financial hurdles significantly higher than for couples purchasing together.
The Savings Gap: Singles vs. Couples
Data shows that a single homebuyer needs to save an average of €57,517 to cover the down payment and associated taxes and fees. In contrast, couples buying together need to save a total of €63,469, which amounts to just €31,734.5 per person. This means a solo buyer needs 74.9% more in savings than an individual in a couple.
This high initial financial pressure often forces single individuals to seek external support. The report indicates that nearly 6.79% of single buyers require an additional guarantor or use a double mortgage (securing the loan against another unmortgaged property owned by themselves or a relative) to meet the bank’s risk assessment criteria. This is higher than the 5.3% for couples.
Buyer Profiles: High-Income Singles and Dual-Income Households
Despite the challenges, single buyers still make up a significant portion of the market. In the past year’s first-time homebuyer mortgage records, individual applicants accounted for 46.86%. The average profile of these buyers is 36.85 years old with a net monthly income of €2,812. However, according to 2024 data from Spain’s National Statistics Institute (INE), the national average monthly salary is €2,110, and the most common salary is just €1,180. This indicates that single individuals who can afford to buy a home independently are typically high-income earners.
In contrast, couples, who make up 53.14% of buyers, demonstrate greater financial strength. Their average total household monthly income reaches €3,719, typically composed of a primary borrower earning €2,702 per month and a secondary borrower earning €1,017.
The Clear Economic Advantages of Buying Together
A dual income provides couples with multiple advantages. They can not only meet higher savings goals together but also secure bank loan approval more easily due to their stronger repayment capacity. Consequently, they can afford more expensive properties. Data shows the average property price for couples is €200,562, with an average mortgage of €153,951. For single buyers, the average property price is €170,911, with a mortgage of €128,785.
Laura Martínez, Director of Communications at iAhorro’s mortgage comparison platform, states: “Two incomes not only increase borrowing capacity but also enable banks to offer more favorable loan conditions. In the current real estate market, buying jointly remains the simplest way for many people to purchase their first home.”
Regional Disparities: Major Cities Intensify the Gap
The disparities in house prices and purchasing thresholds between Spanish cities further amplify the gap between single and couple buyers.
- Major Cities: In core metropolitan areas like Madrid and Barcelona, single individuals typically look at properties around the €300,000 mark, while couples can aim for over €400,000.
- Mid-Sized Cities: In places like Valencia, Seville, and Málaga, the budget for a solo buyer is often between €200,000 and €220,000, whereas the average purchase price for couples is around €280,000.
- Inland Provincial Capitals: In cities such as León, Toledo, and Córdoba, the average purchase price for a single person is between €160,000 and €180,000, compared to €200,000 to €220,000 for couples.
