In 50% of rental cases, more than one salary is required, since the average income exceeds 900 euros — Idealista/news

According to a study of the current situation carried out by the National Federation of Real Estate Associations (FAI), half (50.01%) of the rental properties managed in Spain require more than one salary or income from more than one person to pay the monthly rent. rental market and the profile of the landlord and tenant.

In this context, the same study shows that the houses that are most often rented out have an average of 76.89 square meters and that the maximum average price most sought after by potential tenants is 764.32 euros, while the national average price of a house rented out at a maximum price of 900 to 1000 euros.

Information collected by the FAI also indicates that the national average wage for a single renter is €1,782.43, while for couples or shared apartments the income is €2,091.39.

The report also shows that 73.5% of renters are couples. On the other hand, the percentage of single people renting is significantly lower at 17.3%. They are followed by people living in an apartment without family ties (7.3%) and companies (1.8%).

In particular, 40.7% of the agencies surveyed indicated that the tenants were couples with children, while 32.8% indicated that they were couples without children. As for age, most tenants were between 30 and 40 years old.

Temporary rent is 25% of the total rent.

As for the use, 39.2% of agencies indicate that they use it as a permanent residence due to a change of residence, 30.1% indicate that they rent it out as a permanent residence due to emancipation. Next comes seasonal rent for work – 14.7% and for study – 10.3%. According to real estate agencies, both types of temporary rent account for 25% of the rent.

As for the typical owner in Spain, it is a person or family aged 49.3 years, who in 42% of cases, according to agencies, rent or lease their home for long-term investment, to guarantee retirement or pay for care home.

They are followed by homeowners who are changing their home (32.8%), those who want to receive income from an inheritance (19.3%) and those who do so by moving to another municipality or city due to work or study (15.4%).

Housing supply fell by 37.2%, while demand increased by 20.23%.

On the other hand, the FAI report shows that regular charter supply fell by 37.2% year-on-year in June, while demand rose by 20.23% over the same period.

“We are facing the most serious housing crisis in the last 50 years, as in one year more than a third of the supply of apartments or houses for regular rent has disappeared and there is a growing demand for long-term rental housing, which is rarely seen,” said FAI President José María Alfaro.

In this scenario, he warns that tenants in Spain are often making “impossible” economic efforts to pay rent that already requires spending between 45% and 56% of their salary.

“We are facing a situation of substandard housing, a high risk of a potential default bubble if the economy cools, and renting will become a luxury unless effective and technical measures are taken to create supply for existing housing,” Alfaro warned.

For this reason, he asked for initiatives to be formulated to ensure that empty housing appears and that the confidence of landlords who have switched to other rental uses is restored, given the fear and uncertainty of owners due to the lack of legal protection and incentives.