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For many people living in Spain, the dream of owning a home is starting to feel more distant than ever.

 

With the cost of everyday life continuing to climb, from food costs and electricity prices to fuel and rent, finding enough money to buy a property has become a challenge that many households simply can't overcome.

 

According to a new study by property portal Pisos.com, the biggest obstacle isn't actually the monthly mortgage payment. It's finding the huge amount of cash needed before a bank will even consider lending you the money.

 

Most mortgage providers in Spain require buyers to have savings worth around 30% of a property's value. Typically, 20% is needed as a deposit, while the remaining 10% covers taxes, legal fees, notary costs and other expenses linked to the purchase.

 

In some of Spain's most expensive cities, that means potential buyers need well over €100,000 sitting in the bank before they can even start discussing a mortgage.

 

San Sebastián tops the list, where the average 90m² apartment costs almost €595,000. According to the study, buyers would need savings of around €178,500 to secure a mortgage. Madrid isn't far behind, with an average savings requirement of almost €173,000.

 

Palma, Barcelona, Málaga and Bilbao also require more than €100,000 in savings before buyers can get their foot on the property ladder.

 

Even in cities that are considered more affordable, the figures remain daunting. In Valencia, buyers need almost €86,000 in savings, while in Seville the amount exceeds €70,000.

 

Ferran Font, director of studies and spokesperson for Pisos.com, explained that discussions about housing affordability often focus on mortgage repayments, but many people never even get that far.

 

Not a single provincial capital in Spain can be accessed with savings of €30,000. The cheapest option is Jaén, where prospective buyers would still need more than €34,000 before qualifying for a mortgage. Only five provincial capitals require less than €40,000 in savings.

 

According to the study, the problem is made worse by Spain's increasingly expensive rental market. Many younger workers spend such a large proportion of their income on rent that saving meaningful amounts of money becomes extremely difficult.

 

Font pointed out that many aspiring homeowners find themselves trapped in a frustrating cycle. They need to rent because they can't afford to buy, but the cost of renting leaves little room to save for a deposit.

 

"Asking a young person who rents to save €50,000 is, in practice, asking the impossible," he said.

 

The study suggests that without financial help from family, an inheritance or an unusually high income, home ownership is becoming increasingly difficult for many people, even those in steady employment.

 

For a growing number of residents across Spain, the challenge isn't finding a mortgage they can afford each month. It's finding the tens of thousands of euros needed to get through the door in the first place.