PROPERTY G U I D E Currencies Direct • Let’s talk currency
Home ownership as popular as ever A
CCORDING to a study by Vía Célere, a property developer specialising in building and managing residential assets, 74 per cent of Spaniards own their own home, with Andalucia (85 per cent), Aragon (76 per cent) and Asturias (75 per cent) leading the way. In contrast, the data show that 21 per cent of Spaniards live in rented accommodation. By age range, young people between 25 and 34 years old are those who opt to rent to a greater extent, while the Canary Islands (37 per cent), Cataluña (29 per cent) and Galicia (26 per cent), are the autonomous communities with the highest proportion of renters. The study also shows that 73 per cent of those who live on rent have thought about buying a home. Even so, they acknowledge that they encounter barriers that prevent them from buying, such as lack of money (25 per cent), an unstable work life (24 per cent), a reluctance to sign a mortgage (18 per cent) and the impossibility of obtaining financing (17 per cent). Thirty-eight per cent of homes owned were bought between 2000 and 2009, while 37 per cent were purchased before 2000. In addition, six out of 10 Spaniards indicate that the purchase price of their current home was less than €150,000. Some 84 per cent of Spaniards say they feel quite or very satisfied with their current home, with Madrid and Andalucia being the best-positioned
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73 per cent of those who rent have thought about buying.
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HOME DREAM: Spanish want to own their property.
communities in this regard (91 per cent). Location (68 per cent) and price (64 per cent) appear to be the most important factors when choosing a home, although environmental services and construction quality also play a very important role. Flats (68 per cent), followed by vil-
las or houses (22 per cent) are the most demanded type of residence in Spain. In terms of the size and typology of Spanish households, 46 per cent live in dwellings between 81 and 120 m2 and 50 per cent say they live in a newly built dwelling. The possibility of personalising the dwelling is the characteristic for
which 74 per cent of Spaniards would be willing to pay a higher price, followed by an energy rating A (73 per cent) and a large kitchen (70 per cent). Common areas are also very attractive when it comes to choosing a residence. Having a park, a dog area and a bar nearby is highly valued by buyers.