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Spain is a country of owners: half of the tenants rent because they can not buy

Published on January 21st 2019

60% of tenants believe that it pays more to pay a mortgage


Spain is a country of owners. Despite the fact that more and more people choose to rent as their way of life, almost half of those who do it are due to the inability to acquire a home. Specifically, the percentage of tenants who would like to buy a home is 47% according to the data of the last report of the real estate.

The study reveals that 43% of tenants are considering buying a house in the next five years, while 40% do not plan to buy in the medium term but do not rule out doing so in the future and only 17% of them do not plan to buy housing neither medium nor long term.

In addition, it increases the perception that renting is throwing away money, a thought that was lost during the years of crisis and that now comes back strongly among 33% of tenants. Also, 60 percent strongly support the idea that it now pays more to pay a mortgage than a rent.

The high price rises that have been registered in Spain since 2015, with record highs in our country, reaching 9 percent rise in 2017, have expelled a large part of young people from the market, since demand between 18 and 24 years has fallen 38 percent. In the general calculation the demand has contracted 36 percent.

The gap between supply and demand has also limited the possibilities of tenants, who have not managed to negotiate prices in 61 percent of cases. Also, the perception that we are close to a bubble is already half of the tenants, compared to 32 percent who thought in 2017.
 

Source:www.eleconomista.es