Spain has one of the lowest rates of home renters (versus home buyers) as a percentage of the population in all of Europe. This reality has been commonly attributed to the fact that Spaniards believe that living in a rental property is tantamount to “throwing money down the drain.” However, the data reveals that behind the low percentage of renters versus buyers, there is also a clear economic component: the effort rates of the two options.
According to data from the Brains RE real estate Big Data platform, the average expenditure per household on paying the rent is more than 15% higher than the average amount disbursed on a home for purchase. That excess effort has exploded in recent years and is essentially motivated by one component: the exponential increase in rental prices.
Read the full article in Spanish.