Real estate renovation costs and strategic purchasing

When purchasing older properties for renovation, buyers must carefully calculate both the purchase price and the cost of works to ensure the total remains below the market value of a pre-renovated equivalent in the same area. Experts suggest obtaining a renovation budget before signing any deposit agreements.

In 2026, the cost of a comprehensive home renovation is estimated to range between 450 and 900 euros per square meter, depending on the scope and quality of materials. For a 90-square-meter apartment, a basic renovation might cost significantly less than a high-end project that includes new plumbing, electricity, climate control, and premium kitchen installations.

The impact of renovation costs varies by location. In Córdoba, where the average price per square meter is lower, renovation costs can represent nearly 40% of the total property value. In contrast, in Marbella, where property prices are much higher, the same renovation might only account for 10% of the total cost.