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Álvaro Soto
Madrid
Jueves, 30 de enero 2025, 11:45
Only 13% of young people who have decided to move out can afford to live alone, while the remaining 87% are compelled to share accommodation, often in very precarious conditions: 42.4% live with three or four people, 37.9% with two people, and 6.7% with more than four people, according to the report 'A Problem Like a House', prepared by the Youth Council of Spain (CJE), highlighting the significant challenges this demographic faces in becoming independent.
In this context, nearly seven out of ten young people who have moved out (68.9%) rent their homes, compared to 14.9% who have purchased a house and are paying a mortgage; 10.7% have fully paid off their homes, and 5.5% have been granted accommodation for free.
"We are not surprised but it hurts: the majority of emancipated youth live in rented accommodation, and in many cases, the conditions are far from decent," lamented Andrea González Henry, President of the Youth Council of Spain.
The challenges in starting an independent housing project are linked to high housing prices and low wages. 34.5% of young people who have moved out earn less than 1,000 euros net per month, and with that income, 70.6% pay for their housing (rent or ownership) on their own. Thus, nearly three out of ten require family support.
The average monthly cost of a complete home for a young person amounts to 755.5 euros, an effort that, along with low income, hampers this group's ability to save. The study highlights that a young person who has moved out manages to save an average of around 271.7 euros monthly after paying for housing and other expenses, and only one in four independent young people can save more than 300 euros a month.
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