Owners can spend up to 5,000 euros a year to keep a city flat empty in Spain, or about 417 euros a month, information from the Asociación Española de Franquicias Inmobiliarias (AEFI). That figure excludes mortgage payments and major repairs. Spain's National Statistics Institute (INE) counted 3.8 million vacant homes in the 2021 census, representing 14.4% of all housing; nearly half are in towns with fewer than 10,000 people. Empty homes in small towns do little to ease the housing shortage in big cities.
AEFI based its breakdown on a typical city flat with a cadastral value of 100,000 euros. Annual maintenance costs 1,500 euros, while community fees add 1,200 euros. The Impuesto sobre Bienes Inmuebles (IBI) usually takes another 700 euros. That tax can rise if a flat stays empty for years or an owner has several vacant homes in one town. The Bank of Spain reports a housing supply gap of about 750,000 units. Only 92,000 new homes are expected in 2025, while 240,000 new households will form. This gap keeps prices high, especially in cities, even as most empty flats sit outside the places where people want to live.
Idealista reported that by the end of 2025, long-term rental listings in Spain had fallen to about 510,000, down from more than 902,000 in 2018.
Utilities add another steady expense. Owners may keep water and electricity running even when nobody lives in the flat, avoiding costly reconnections and allowing them to check on the property from time to time. Those bills can reach 600 euros a year. Insurance for an empty home costs about 300 euros, and local taxes take another 200 euros. AEFI estimates imputed income tax at 500 euros, using a 2% notional rental value and a 25% marginal rate. The amount can vary: official tax guidance says the imputed income tax (IRPF) for non-primary homes is not always 2%. It can be 1.1% if the cadastral value was updated after January 1, 1994. The actual tax depends on the flat's cadastral history and the owner's tax rate, as the Spanish Tax Agency explains.
Leonardo Cromstedt, president of AEFI, puts it plainly: “An empty home is not a cost-free asset. Even when closed, it requires minimal management, generates recurring obligations and can deteriorate if it is not monitored.” An empty flat drains finances; it is not a free asset. Cromstedt advises owners to count every cost and check their legal and tax status before seeking advice about leaving a property unused for years. The Spanish Ministry of Finance also notes that the tax rule applies even if the flat is not rented. Article 85 of the IRPF law imputes income for urban properties that are not the owner's basic home and are not used for business. The tax is apportioned information from the owner's share and the time the property was held.
AEFI warns that many owners overlook the real cost of leaving a property vacant. They focus on IBI or community fees, while overlooking maintenance, insurance and utility bills. The association's estimates exclude mortgage payments and major repairs; special community charges can push the annual cost much higher. Expenses for upkeep, utilities and insurance, along with local taxes, can also vary considerably depending on the city, the flat's size and condition, the insurance policy and the owner's tax situation. Official sources confirm that these costs vary.
El Confidencial reports that municipalities must specifically include IBI surcharges for vacant homes in their local tax regulations. If a property remains empty for more than two years without a valid reason, the IBI can rise. For owners with four or more properties, the surcharge may reach 150% after prolonged vacancy.
Some cities penalize long-term vacancy. The IBI can rise by 50% if a flat is empty for more than two years. After three years, it can double, particularly for owners with several empty flats. A typical 700-euro IBI bill could reach 1,750 euros, depending on local rules. But the increase does not affect every empty flat. Using a flat as a second home can count as a valid reason, and whether a property is classed as vacant depends on several factors and municipal rules. So not every unsold or unrented flat will face a steep IBI increase.
AEFI's figures assume a well-kept flat in a mid-sized city, but actual costs can vary widely. Older buildings and luxury extras can raise expenses, while sudden repairs may push them well above 5,000 euros. A simple, tidy flat in a cheaper area may cost less. Even so, the basic expenses are large.
Some still view Spanish property as a safe place for savings. Home prices rose by more than 80% over the last decade, and many believe “investing in bricks” is always smart. AEFI's figures show how vacancy costs can erode returns, especially when a flat stays empty for years.
Spain's property market changes quickly. Madrid's used car market recently surged ahead of the rest of Spain, as reported earlier. The cost of holding empty flats is rising too. Owners who ignore these expenses may see their investment become a money pit.
AEFI's message is clear: leaving a flat empty in Spain is expensive. Owners who overlook maintenance and taxes may face a large annual bill, with insurance and municipal penalties adding further costs. Anyone considering keeping a home vacant needs to reckon with the expenses.
