Spaniards must raise large sums of money to buy homes

SPANIARDS need to spend up to four years’ worth of wages more than other Europeans if they want to purchase their own homes.  

At least this is the data revealed in a study carried out by real estate website Pisos.com revolving around the comparative ability of Spaniards and foreigners to purchase property within Spain. The findings indicate that Spaniards must put aside 32.55 per cent of their monthly salary in order to buy a home, while foreigners who buy a home in Spain only need to pay 22.68 per cent.

According to the Real Estate Statistic Registry, of the houses sold in Spain in the last quarter, 13.52 per cent were the result of foreign demand. Of all of those, the British are those responsible for the most purchases, 32.12 per cent of the total.

British, Danish, Dutch, Belgian, Swiss, German, Irish, French and Italian buyers all have it easier than Spaniards when it comes to buying a home due to differences in salary, whereas Poles, Russians, and Bulgarians have to allocate an even greater percentage of their salaries than Spaniards when attempting to acquire property within Spain.