Palma/Madrid.—A new report reveals that the idea of flying the nest remains little more than a pipe dream for many young Spaniards.
 The latest quarterly report from Spain’s youth council (the CJE) reveals that only 22 percent of people under the age of 30 have managed to leave home to buy or rent an apartment for themselves.
According to the CJE this figure shows “the fragile situation young people face in the labour market and the tough housing market conditions that make buying a house impossible for the majority of young people”. The report’s aim is to periodically assess the social and economic conditions of young people in Spain with a particular focus on work and housing.
It shows that young Spaniards would have to set aside 61.2 percent of their salaries in order to be able to buy a house and revels that they would need to earn 104.09 more than what they are currently bringing in to be able to afford a mortgage (the average amount should be about 30 percent, according to the report’s authors). 

Comments

To be able to write a comment, you have to be registered and be logged in.

* Mandatory fields

Currently there are no comments.