House prices | The 190,000-euro home that young Spaniards buy

Semi-detached houses in Parla (Madrid). / JOSÉ RAMÓN LADRA

The INE publishes the profile of homeowners under 34 years of age and the mortgages they are asking for; one in three buys a single-family or semi-detached house

The
typical profile of young owners in Spain corresponds to an average 31-year-old person, with little capital saved, who needs 90% financing and opts for a variable or mixed mortgage, according to the Real Estate Credit Union (UCI) .However, the analysis reveals that one of the Every three people buy a single-family or semi-detached house and that the average price of the house is 190,000 euros.

Home sales in the first quarter of the year increased by 1.5% year-on-year. In addition, last June this figure shot up 71.2%, compared to the same month in 2020, according to data from the National Institute of Statistics (INE).

This is the most expensive house in the Valencian Community, for sale for 12 million euros

In this context and according to data from operations formalized by the UCI, young Spaniards aged 25 to 34 buy homes with
average prices of 190,973 euros and they mainly opt for variable or mixed rate mortgages, which reach
up to 90% financing and average amounts of 172,675 euros, 29% more than the national average of 133,611 euros.

Young Spaniards with a
average salary of 19,563 eurosAccording to the INE, they need 8.82 years of full annual salary to meet a typical mortgage of 172,675 euros. And having spent at least 5 years saving half of his salary to have the entrance.

Regarding the type of housing, seven out of ten (68%) of these buyers choose
floors, while
a 32% chooses
single-family or semi-detached homes.

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