Only one in ten Basque youth has the ability to buy a home
Currently rentals are 60 euros more expensive than mortgages and many young people spend more than 40% of their income on the payment of income
In Álava, Bizkaia and Gipuzkoa, ten young people between 30 and 34 years old have seven emancipated and the average age to emancipate themselves from the paternal home is 29.8 years. Only one in three young people between 18 and 34 years of age is independent, approximately 30% of the total. These data were collected by the Basque Government with surveys conducted in 2023 in the study “Youth, Emancipation and the Need for Housing in the Basque Country”.
Although 44.5 per cent of the emancipated youth between 18 and 34 years old live in rented housing, young people prefer property accommodation. However, nine out of ten rented people do not have sufficient or stable income to access housing, they have reported. These young people often devote more than 40% of their income to the payment of income, as rentals are currently EUR 60 more expensive than monthly mortgages. The Director of Youth of the Basque Government, Miren Salatxaga, reiterated that the difference between rental and mortgage expenses is smaller than before.
The report highlights that only 12.1 per cent of the emancipated young people live in a protected home. Only half of those who will begin the emancipation process (53.5%) are familiar with the Etxebide Public Housing Service, of which only 36% are registered as a housing applicant of the institution.
Greater tendency towards the emancipation of women and foreigners
The study explains that young people from the CAPV tend to emancipate themselves traditionally, betting on a home shared with their partner. The report also shows that there is a clear difference between “sex and origin”. Women are more likely to become emancipated than men, 34.4%, compared to 26%. The study also reveals that the rate of emancipation of young foreigners increases by 8.4 percentage points.
Regarding the location of the new housing, it has pointed out that 60% of the young people would prefer to emancipate themselves in their municipalities, due to the proximity to the workplace, they prefer proximity to the socialization circle.
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