Renting a home is synonymous with “freedom”.
The mentality of the Spanish citizen has always been that it is better to pay a mortgage than a rent, since the rental income is considered “badly spent money”.
78% of Spaniards own their home (for the mortgaged, in reality the owner is the bank until they have paid 100% of the mortgage)
The rental rate in Spain is 22%, quite low compared to the European average (31%), and well below Germany (48%), UK (37%) or France (36%).
Everything and the high distance that separates us from the “rich” countries of Europe, the tendency is that the rent in our country is bullish. The trend began to change from 2007. The destruction of jobs produced thousands of defaults on mortgage payments, thousands of evictions and unfortunately, a touch of attention and humility for many of our fellow citizens.
As we can see in Eurostat statistics, we see that the more developed the country, the greater the percentage of the population that lives in rental accommodation.
All this, accompanied by the “flexibilization” of the labor market, has caused a change in our habits.
The “Peter Pan” generation or people who live with their parents for longer periods than the previous generations, the precariousness / scarce “job stability”, and the changes in the “tempos” of the couple relationships (in the past, if you are not married at 30 you were a “bachelor / a) is causing, before taking the decisive step to buy a home, first live in rental accommodation as a couple. ” What would be “a love nest”. Never better said, a “nest”. Birds build their nest, mate, raise their chicks and then migrate north to south; It is your “temporary home.”
The “millennial” generation are people who adapt easily and quickly to changes. Its mentality is totally different from that of the baby boom generation of the 1970s. Renting a home is synonymous with “freedom”. The commitment acquired with the rent is “scarce” and if things go wrong at work, or with your boyfriend / girlfriend, with a month of “notice” you stay “free of charge”, you forget about mortgages, interest rates and of debts for 30 years. The labor market has become “global”; If you rent a flat and offer you a job anywhere else on the planet, you can say: “OK! no problem “without worries.
If we mix in a shaker MILENIAL GENERATION / PETERPAN + FLEXIBLE / GLOBAL LABOR MARKET + CHANGE IN THE TEMPS OF THE COUPLES, THE RESULT IS = RENT