86% pay rise needed to buy house

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Young Spaniards are struggling to get on the property ladder.


Young Spaniards wanting to buy a house would need a pay rise of around 86% and all they would be able to afford would be 53 square metres.

 

Only one in four Spanish youths is emancipated – the rest are, economically, forced to continue living with their families.

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According to a study made by the CJE (youth council of Spain) Spanish people under the age of 30 would need to spend 56% of their salaries on a mortgage; and then only if they got a raise of 86% on the paltry amount they already earn as they are the second-worst paid young people in Europe.

Ricardo Ibarra, president of the CJE, has underscored the dramatic situation that the youth of the country are going through; in his opinion the government “has limited itself to waiting for better times” and is “doing nothing to help.”


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