According to a study by idealista, 49% of the current supply of two-bedroom flats for sale in Spain is priced below the reasonable affordability threshold. In other words, they are within reach of a household on an average income that allocates no more than 30% of its earnings to mortgage repayments – equivalent to €805 per month. By comparison, the average monthly mortgage payment for a two-bedroom flat in the fourth quarter of 2025 stood at €698. However, to secure financing, families would need to provide an average of €64,568 for a deposit and taxes.
As in the rental market, the distribution of affordable homes is far from uniform, and their scarcity is particularly evident in major markets such as Palma, San Sebastián and Málaga. In Palma, only 16% of two-bedroom flats are financially suitable for a household on the city’s average income. In San Sebastián, the figure rises to 23%, while in Málaga it stands at 25%.
Next come Madrid and Barcelona, where 33% of flats are priced below the reasonable affordability threshold, followed by Granada (43%), Valencia (48%) and Cádiz, Santa Cruz de Tenerife and Alicante, all at 49%.
At the other end of the scale is Lleida, where 90% of two-bedroom flats would be affordable for an average-income household. This is followed by Zamora (89%) and Cuenca, Teruel and Jaén, each at 88%.
Saving for the down payment is the main obstacle to being able to buy a house
Although a large share of flats appears affordable for a household with an average income, the main barrier to ownership is the savings required for financing and the taxes payable on the transaction.
Palma tops the list for the highest down payments, at €147,116, followed by San Sebastián (€137,700), Madrid (€117,793) and Barcelona (€103,172). Below €100,000 are Málaga (€96,651), Valencia (€77,503) and Pamplona (€76,240).
At the other extreme is Zamora, where only €32,996 is needed to access a mortgage, followed by Jaén (€34,596), Lleida (€35,581) and Palencia (€35,931), the only cities below €36,000.
Reasonable mortgage payments that families in each capital can afford
Financial guidance suggests that a household should not spend more than 30% of its income on mortgage repayments. However, incomes vary across Spanish provincial capitals, so the threshold for a reasonable purchase differs from city to city. idealista has used household income data from the INE (Spanish Statistics Institute) for each provincial capital to calculate the maximum monthly payment that could be considered affordable – what it calls a reasonable purchase.
The city where families could afford the highest monthly payment without exceeding this limit is San Sebastián, at €1,221. It is followed by Madrid (€1,166), Barcelona (€1,100), Melilla (€1,086), Ceuta (€1,058), Girona (€1,049), Palma (€1,046), Toledo (€1,031), Pamplona (€1,030) and Bilbao (€1,022).
In most provincial capitals, the current average price for a two-bedroom flat – based on the average household size of 2.4 people, according to the INE – results in a monthly mortgage payment below what is considered reasonable. However, in some major markets, the current prices push payments above this threshold.
This is the case in five provincial capitals, with Palma showing the largest gap. A family with an average income in the Balearic capital should not pay more than €1,046 per month to meet reasonable criteria, yet the market dictates an average payment of €1,591.
The pattern is similar in San Sebastián (€1,221 reasonable vs €1,489 market), Málaga (€845 vs €1,045), Madrid (€1,166 vs €1,274) and Barcelona (€1,100 vs €1,116).
Effort rate to buy a two-bedroom flat
The cities with the widest gap between reasonable and market prices are also those where buying a home demands the greatest financial effort. Palma tops the list, where families must dedicate 46% of their income to mortgage payments – well above the 30% recommended by experts. Málaga (37%), San Sebastián (37%), Madrid (33%) and Barcelona (30%) also show elevated financial burdens. At the other end of the scale, the lowest burdens are in Lleida, Jaén and Melilla, each at 13%.
Methodology
Price of a typical home
Median prices of two-bedroom flats are shown for each area analysed. Based on the current average household size of 2.4 people in Spain, according to the INE, a two-bedroom flat is considered the minimum needed to establish a household.
Net household income and mortgage effort (%)
The mortgage effort ratio measures the burden of mortgage payments for a typical home relative to a household’s purchasing power. It represents the annual percentage of net household income spent on paying a “typical” mortgage – one with average duration and interest rate – with calculations updated using data from the ECB.
Net household income data comes from the INE, with the latest figures available from 2022.
Calculating savings
Financing is calculated to cover 80% of the property value, meaning buyers must provide 20% of the purchase price themselves, plus an additional 10% to cover acquisition-related expenses.
Supply
Number of properties active on the market during the period analysed (fourth quarter of 2025).
