Spanish young people, and her Iberian Kingdom are persons under the age of 34 years, in most cases cannot afford to move out from their parents. About it writes El Pais, citing a recent study.
According to the Youth Council of Spain, they have no private savings, no decent wages. According to statistics, people aged up to 34 years receive per month on average, 961 euros, which is two times less than need in order to rent an apartment or get a mortgage. According to experts that the monthly payments are a heavy burden on the shoulders of young people, they must earn at least 1935 euros, of which only 30 per cent will have to pay the Bank (usually on such terms the loan is made).
Or about 50 percent to the landlord. Now renting an apartment in the middle of Spain leaves 90 percent of the income of young people. In Catalonia, the Balearic Islands and Madrid owners are asking even more than they do earn. It would seem, to buy an apartment is more profitable, because every month to pay the Bank will have less than the lessor, however, getting a mortgage is possible only when you have money for a down payment in the amount of at least 20 percent of the property value. We are talking about approximately 50 thousand euros, four times more than you can earn in a year. As a result, young people alone are not able to afford to buy or rent an apartment.
They have three options: to postpone the exit from the parents to the best of times (it often happens), to purchase an apartment from the state for special programs (for below market price, but such offers are very few) or to look for housing outside the market. In the latter case we are talking about settling in a vacant apartment of his close friends or relatives (a second home – a fairly common phenomenon in Spain, but most often it is in resort areas and used only in the summer).
as a result, by the end of 2019, only 18 percent of young Spaniards were able to lead an independent life (and that’s quite a high figure compared with previous years). After the pandemic coronavirus, as experts fear, the situation will again worsen. Because young people often work with temporary employment contracts. In the period when Spain acted quarantine, many of them became unemployed. Moreover, most often they are employed in the hospitality and tourism sectors, which have suffered and still suffer serious losses due to various restrictions imposed as in Spain and in other countries (in Germany and Belgium, for example, recommended not to go to Catalonia, because of the growth in the number of new cases of coronavirus).
