Alicante has become one of the provinces where families need to do something greater efforts to access housingwhether rented or owned. what matters price increase –especially for those who want to rent- and increase in mortgage pricesis combined with one salary level is below average Spanish, which means households in the region must allocate a higher percentage of their income to this spending than in other parts of the country.
At least this is what the latest study by the Idealista portal states, which highlights the overall increase in this indicator over the past year. Spain. In the case of rentnecessary efforts have been made from 30.5% to 32.6% total household income at the national level to buy reservations must be made every month 21.9% Compared to the previous year, the rate of their salaries was 18%.
Inside Alicante The situation is much worse. According to the portal’s calculations, in 2022, families in the province already had to pay 31% of their monthly net income for access to a rental apartment, while the limit recommended by experts to avoid an overload on domestic finances was 30%. Now This rate has already reached 35%Following the more than 15 percent increase in prices during this period, the average monthly cost of an 80-meter flat is 792 euros, and if the house reaches 100 meters, it is close to a thousand euros.
In this way, Alicante fifth limit where more effort is required renting a house just behind Malaga, where families must allocate 53% of their monthly income; Balearic Islands with 48%; Barcelona with 41%; and Las Palmas with 37%.
The level of effort in Madrid society remains at 34%, because although prices are higher, salaries are also much higher than those paid in Alicante.
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As for those who choose to be owners, the effort required has increased even more than the rent. Specifically, a year ago the average mortgage accounted for about 21% of household income, now that proportion is up seven percentage points. up to 28%.
These figures once again place the province among the provinces that make things most difficult for those looking for a home. Specifically, this would be the fourth after the Balearic Islands, where wages are up to 45% of what families earn; Malaga with 43%; and Santa Cruz de Tenerife with 35%.
Idealista spokesperson regarding future expectations Francisco Inareta He points out that there are no signs of improvement in the situation of those who want to rent. Therefore, if legislation continues to be tightened along with income restrictions and other measures, the supply shortage will worsen and “will increase the difficulties of families” providing access to rental housing with special attention to the most vulnerable profiles”.
On the contrary, in this case buying a houseIt is possible that the interest rate cut announced by the ECB in the third quarter of this year will reduce the financing cost somewhat. reduction of effort Unless demand increases strongly and puts upward pressure on prices, according to Iñareta.