Learn the costs of renting or buying homes in various parts of Spain, procedures and legal requirements, and typical utility costs. Below is a brief excerpt from this section:
Most Spaniards live in small apartments with roommates or family members, and rely on public spaces, such as cafés and tapas bars, for socializing and entertainment. Rent takes up a large portion of their income. According to the OECD, households in Spain spend 22% of their net disposable income on housing, higher than the OECD member average of 20%.
With the economic recession, which strongly affected the housing sector in the last several years, property rental prices dropped across the entire country. This negative tendency continued for several consecutive months, but today, as Spain’s economy recovers, apartment and house rental prices are rising again. In the last 12 months, in fact, they have registered a national average growth of 18.4%, soaring like never before and reaching historical peaks in several cities, including Barcelona and Madrid. This is causing disruption and gentrification in many cities’ centrally located traditional neighborhoods, where lower-income residents cannot afford their housing prices any longer. One of the main reasons for this drastic price increase is the success of the short-term tourist rental market, which has become more and more popular and profitable, thanks to platforms such as AirBnB.
This is just a brief sample of the extensive information in the GoinGlobal Spain Career Guide, which is carefully researched and regularly updated by local career experts.