Youngsters’ Complicated Access To Housing: 85% Have Trouble Buying

29 Aug 2022 | Blog

Housing prices, both rentals and purchases, have gradually but constantly gone up in Spain over the past three decades. During this period, especially since Spain entered the European Economic Union, access to the property market has become more difficult because of the disproportionate increase in immovable property prices in relation to the average salary in Spain.

Precisely one of the major issues the housing sector tries to tackle each year. The sector requests the Government assigns more public resources that drive aid programmes to access housing and greater investment in available public housing saved for the most vulnerable groups with least resources in order to cope with rental or mortgage payments.

In this sense, youngsters’ economic position makes them especially vulnerable to access this market. According to the last report prepared by the consulting company GAD3, 85% of youngsters have financial problems when it comes to purchasing property. The report also confirms Spaniards want more help from the Public Administration to access the residential property market.

On the other hand, the aforementioned report stresses Spain’s youngsters clearly support sustainable housing. The younger age groups are willing to pay more money for a property that has been built sustainably. Meanwhile, another one of the conclusions emphasised in the report is 1 in 6 Spaniards connects the property sector’s activity with sustainability and innovation, a paradigm shift that goes hand in hand with European policies on this matter and the ever pressing daily need to take care of our planet.