How much does a retirement home cost in Spain?
When it comes to planning for retirement, one of the biggest concerns for many seniors is finding a comfortable and affordable place to live. Retirement homes or apartments in Spain have become increasingly popular among retirees due to the country’s warm climate, affordable cost of living, and high-quality healthcare system. However, the question that often arises is how much does a retirement home cost in Spain?
Retirement homes, apartments, and senior living communities in Spain vary in price, depending on a number of factors such as location, amenities, and level of care provided. In this blog, we’ll explore the cost of retirement homes in Spain and provide you with some valuable insights on how to find the right retirement home or apartment for your needs and budget.
Retirement Homes in Spain: Cost Overview
In general, retirement homes in Spain can range from as low as €800 per month to as high as €5,000 per month, with an average cost of around €2,500 to €3,000 per month. This is significantly lower than the average cost of retirement homes in other European countries such as the UK, where the average cost can be over €4,000 per month.
The cost of retirement homes in Spain is affected by several factors including the type of care provided, the size and location of the retirement home or apartment, the facilities and services offered, and the level of luxury and amenities. As a result, the cost of retirement homes or apartments in Spain can vary widely from one place to another.
In addition if you require specialized medical care or support with daily activities such as bathing, dressing, or feeding, you may need to pay extra for the care provided by the staff of the retirement community.
The cost of retirement apartments in Spain can vary depending on the city or region where you choose to live. For example, a one-bedroom apartment in a retirement community in Valencia can cost as little as €1,000 per month, while a similar apartment in Marbella, a popular retirement destination, can cost as much as €3,500 per month.
You can also purchase an apartment in some senior communities and here the cost will vary tremendously. With Ciudad Patricia we use a pricing policy which can allow substantial savings on an outright purchase. Read on for more information.
Finding the Right Retirement Home in Spain
Finding the right retirement home in Spain can be a daunting task, especially if you are not familiar with the local culture and language. However, with some careful research and planning, you can find the retirement home or apartment that fits your needs and budget.
Here are some tips to help you find the right retirement home or apartment in Spain:
- Research different retirement communities in Spain: Take time to explore different retirement communities in Spain and compare their prices, amenities, and services. You can use online search, travel agents, or local property agents to help you find the right retirement community.
- Consider the location and accessibility: Choose a retirement community that is located in a convenient location and easily accessible to essential services such as airports and train stations.
- Consider the vicinity of the retirement home or apartment. Is it close to shops, restaurants, medical facilities, and other amenities that you may need?
- Look at the services and amenities offered by the retirement home or apartment. Do they provide meals, transportation, laundry services, or housekeeping? What kind of activities are available for residents?
- Consider the level of care provided. Some retirement homes and apartments offer different levels of care, from independent living to assisted living and memory care.
- Check the reputation of the retirement home or apartment. Look for testimonials and ratings from current and past residents, as well as any regulatory agencies that oversee retirement homes and apartments.
- Visit the community before making a decision: Make sure to Visit the retirement community before making any final decisions. This will give you a chance to see the facilities, meet the staff, and talk to current residents about their experiences.
- Consider the cost of living in the retirement home or apartment. Look at the monthly fees, additional charges, and any financial assistance or subsidies that may be available.
Overall, finding the right retirement home or apartment in Spain takes time and effort, but with the right research and resources, you can find a comfortable and supportive community that meets your needs and preferences.
How to buy a retirement apartment at a lower price
Ciudad Patricia offers the “uso vitalicio” purchase option for those looking to reside in their apartments.
“Uso vitalicio” is a Spanish term that translates to “lifetime use” or “lifetime right of use” in English. In a legal context, it refers to a type of ownership or right that grants an individual the right to use a property for the duration of their lifetime.
Under this arrangement, the individual is allowed to occupy and use the property for their lifetime, but they do not own the property outright. The ownership of the property remains with the original owner or the legal entity that grants the right of use.
This means that you buy the right to live in the apartment for the rest of your life, without the worry of increasing rents. Additionally, the cost of purchase is considerably lower than that of buying an apartment outright, and you are exempt from paying conveyance tax.
The price of the “uso vitalicio” option is based on the age of the purchaser and the type of apartment chosen, with the price list based on 65-year-old individuals. The purchase price includes a discount of €3,500 for each year over the age of 65, while an extra €3,500 is charged for each year younger. For couples sharing an apartment, the age of the younger person determines the cost of the lifelong right of use.
Premium apartments have a price variation of €5,250 in either direction, depending on the specific unit selected. Double apartments have a price variation of 7000€.
What about the service costs?
Included in the service cost are the maintenance of the building and the park, technical services for troubleshooting, swimming pool upkeep, caretakers, security, building insurance, refuse disposal, TV channels, water, activity coordination, shuttle service, and 24/7 medical emergency assistance, as well as the costs of using the central building.
However, the monthly service cost does not cover individual apartment electricity, telephone, internet, or property tax (IBI), nor GP visits outside of normal hours.
A wide variety of retirement apartments
Our residential complex offers both standard and premium apartments to meet the diverse needs of our clients.
The standard apartments consist of Type A1, an 85m2 1-bedroom apartment, and Type A2, an 85m2 2-bedroom apartment. These apartments provide comfortable living spaces and are ideal for singles or couples who appreciate the convenience of living in a well-designed apartment.
For those who require a bit more space, we also offer Type C, a 77m2 1 or 2-bedroom apartment, always located on the top floor with a slightly smaller terrace. These apartments offer stunning views of the surrounding area and are perfect for those who enjoy natural light and fresh air.
For those who want to experience luxury living, we offer our premium apartments. The Type M is a 125m2 2-bedroom apartment that provides ample space for families or couples who enjoy entertaining guests. The Type D is our largest apartment, boasting 170m2 of living space and 2 or 3 bedrooms, offering a grand and spacious living experience.
All of our apartments are designed to provide comfort and luxury to our residents. We understand that everyone’s needs are different, which is why we offer a range of standard and premium apartment options to accommodate our clients’ diverse needs.
Come and visit us
We welcome all prospective residents to come and Visit our senior resort and experience our apartments for themselves. Our team is always available to show you around and provide you with more information on our available apartments.
To schedule a Visit, you can contact us via phone at +34 673 064 288, or via email at email@example.com. Our team will be more than happy to answer any questions you may have and arrange a convenient time for your Visit.
If you are unable to Visit us in person, we are also available to provide more information via phone or email. Our team is knowledgeable about all of our apartments and can provide you with detailed information on our available floor plans, amenities, and services.
We understand that choosing the right apartment is an important decision, and we want to ensure that you have all the information you need to make the best decision for you. So, whether you want to come and see our apartments for yourself or have any questions you want to ask, our team is always ready to assist you.