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Spaniards now spend half their salary on rent, study finds
A property portal study finds the average share of salary spent on housing has risen 12 points since 2019, with Madrid and Catalonia leading on 70% of pay. The evidence of the housing crisis Spain is facing is plain for all to see. In the rental market, rents have risen by around 30% since 2022, according to the CIS, while new housing construction - PwC data - has been stuck at record lows since 2010, averaging 83,000 homes a year compared with 315,000 on average between 1970 and 2010.
Spain is legalizing half a million immigrants, a very different policy from the U.S.
BARCELONA, Spain — Nariola Romo, 34, and her family immigrated to Spain from Colombia, but that wasn’t their initial plan. Their goal was to travel to the United States, but they couldn’t obtain the two loans they needed to make the trip, so they sought a new life in Europe instead. “Things didn’t work out for us, and we thought it was God’s will that we didn’t get the chance to go there, and, well, here we are,” she said.
Spain trapped in rental crisis: up to half of wages go on housing
An estate portal study shows the average wage share has risen 12 percentage points since 2019. Madrid and Catalonia, with 70% of pay, top the regional ranking. The evidence of the housing crisis Spain is going through is plain for all to see.