Spain has one of the lowest rates of home renters versus homeowners in all of Europe. This reality has usually been attributed to the fact that Spaniards believe that renting means “throwing money down the drain”. However, the data reveal that behind the low percentage of home renters versus homeowners, there is also a clear economic component: the effort rates of the two options.
According to data from the real estate Big Data platform Brains RE, the average expenditure per household on paying the rent is more than 15% higher than the average amount spent on a mortgage. That gap has exploded in recent years and is essentially motivated by one component: the exponential increase in rental prices.
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