Spain's Housing Crisis Deepens: Young People Struggle for Independence
In a stark reflection of Spain's ongoing housing crisis, the latest statistics reveal a troubling trend: the number of young people able to achieve independence by moving out of their family homes has plummeted. This issue is particularly poignant for expats and locals alike, highlighting the broader economic and social challenges facing the country.
Rising Rents and Stagnant Wages
As of the first half of 2024, the average rent in Spain has soared to €1,072 per month, while the average salary for young people aged between 16 and 34 stands at just €1,048. This stark disparity has led to a significant decrease in the number of young people who can afford to live independently. The independence rate among young people has dropped from 16.3% to a mere 14.8%[5].
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