Acquiring a property solo is proving to be a considerable financial hurdle, particularly in cities where real estate prices are on a continuous upward trend. Cádiz emerges as the most costly capital in Andalusia for individuals without a partner aiming to buy a home.
A recent report by the real estate portal Idealista indicates that to buy a studio apartment in the capital of Cádiz, a single person must earn a minimum of 27,640 euros net per year. Furthermore, savings of 63,000 euros are required to cover the necessary down payment.
These figures are based on the average price of a studio in Cádiz, which stands at 210,000 euros. With these requirements, the monthly mortgage payment would be approximately 691 euros. This scenario positions Cádiz as the sixth most expensive city in Spain for this buyer segment.
Nationally, the study suggests that an annual net income of 20,920 euros is needed to purchase a 159,000 euro studio, requiring a 47,700 euro down payment and a monthly mortgage of 523 euros. In contrast, Guadalajara is presented as the most affordable option, needing 10,120 euros net annually and 23,097 euros in savings for a 76,990 euro property.
The report also touches upon the rental market, where in Cádiz, a single person earning a net annual salary of 28,000 euros could afford to rent a studio, with average rental prices around 700 euros per month.
