The effort rate grows from 17% to 21% in the last year due to the increase in financing costs
MADRID, 17 Oct. (EUROPA PRESS) -
The percentage of household income necessary to buy a home grew to 21% during the last year, according to a study published by the Idealista portal based on data from the third quarter of 2023.
The real estate platform also highlights that the percentage of household income necessary to rent a home grew to 31%.
Likewise, it points out that the increased cost of financing seems to be responsible for the fact that families who buy a home have gone from having to allocate 17% of their income in September 2022 to the current 21%, while in the case of renting it is barely grew a few tenths.
Idealista also indicates that in 10 Spanish capitals the effort to rent a two-bedroom home exceeds the 30% recommended by experts.
Barcelona is the one that requires the highest percentage of household income (43%), followed by Palma (42%), Valencia (39%), Málaga (37%), Alicante (35%), Madrid (35%), as well as as in San Sebastián (33%), Las Palmas de Gran Canaria (30%), Bilbao (30%) and Santa Cruz de Tenerife (30%).
Below these figures are Seville (28%), Vitoria (28%), Pamplona (27%), Cádiz (26%), Girona (25%) and Granada (25%). On the contrary, the least effort is requested in Ciudad Real (15%), Teruel (17%), Palencia (18%) and Cáceres (18%).
Idealista points out that by province the data are very similar, with Málaga and the Balearic Islands as those that require the greatest effort (49% in both cases), followed by Barcelona (41%), Alicante (35%) and LasPalmas (35%). At the opposite extreme are Teruel (16%), Palencia (17%), Ciudad Real, Lugo, Zamora and Huesca (19% in all four cases).
The platform emphasizes that, in most of the cases it has studied, the effort to buy is less than to rent, with the exception of the markets of San Sebastián, Palma, Granada and A Coruña.
Furthermore, it points out that contrary to what happened last year, four capitals have effort rates higher than the 30% recommended by experts: Palma (47%), San Sebastián (38%), Málaga (33%) and Barcelona ( 32%).
For its part, Madrid is practically at the limit (29%), followed by Pamplona (26%), Granada (26%), Las Palmas de Gran Canaria (26%) and Alicante (26%). The lowest effort rate occurs in Jaén (11%), Lleida (12%), Ciudad Real, Teruel, Palencia and Murcia (13% in the four markets).
In purchasing, all markets require a greater effort than a year ago, with the cities of Palma (18 points more), Málaga (11 points), Santa Cruz de Tenerife (10 points) and San Sebastián (10 points) having the most grown up. The smallest increase has occurred in Soria (2 points), Palencia, Toledo, Jaén, Teruel, Ciudad Real and Cuenca (3 points in all of them).
Finally, among the provinces, the Balearic Islands is the one that requires the greatest effort, with 45% of family income. They are followed by Málaga (43%), Santa Cruz de Tenerife (34%), Alicante (28%), Las Palmas (25%), Madrid (24%) and Cádiz (23%).
In the province of Barcelona it stands at 22%. With a rate of 11% are the provinces of Lleida, Toledo, Ciudad Real and Teruel, the least demanding for buying a home.