What is the annual cost of a second residence in Spain?

The annual cost for a typical flat is:

• The IBI (known in Alicante as the 'SUMA') is an annual municipal tax of around €500 - €650.
• The basura is a fee for waste collection of around 75 - 150 euros.
• Annual tax of non-residents based on the cadastral value of your property.
• Energy, water and internet depending on your consumption.
• Contributions to the co-owners' association if the property is located in an urbanisation.
• Building insurance for damage caused by fire, flood, etc., usually around €300.

The cost obviously depends on the region, the area of the property and the facilities in the urbanisation.

Also watch our video on the cost of a second stay.