The Spanish have to allocate around 30% of their income to acquire a home in Barcelona (31%) and Madrid (27%), according to a study by the 21 Century real estate.
Behind, they highlight the disbursement they make in Palma de Mallorca and Bilbao , which have a debt rate of around 27%. Seville also stands out, with a 19% rate.
According to the report, Barcelona (1,059 euros per month) is at the forefront as the capital that has a higher share to buy a house of 90 square meters. Behind, Madrid (775 euros) and Bilbao (775 euros) follow.
However, Century 21 points out that, however, in all capitals, without exception, the purchase value of a home of these characteristics is below the maximum recommended financial capacity, according to Europa Press.
Thus, in Barcelona the monthly purchase of a house of 90 square meters is below 5% of the maximum recommended financial capacity, while in Madrid it is -18%.
In Palma de Mallorca, Bilbao, Madrid and Barcelona, acquiring a house of 90 square meters exceeds 200,000 euros and only exceeds 300,000 euros in the Spanish capital and the city of Barcelona.
However, when analyzing the main communities and metropolitan regions, it is observed that the most expensive price to acquire a house of these characteristics is in San Sebastián , where a property of 90 square meters costs about 399,815 euros.
On the other hand, the report points out that with the exception of Barcelona, the families' financial capacity limit would allow them to acquire a property of more than 100 square meters in all the analyzed capitals.
Purchase rent gap
In this line, the report highlights that there is a gap between the monthly effort rate for rental versus the purchase, since, according to Century 21, in all cities analyzed it is possible to acquire a home with dimensions greater than which allows the rent with a monthly payment equivalent to a third of the disposable income.
Specifically, with respect to rent, Century 21 has highlighted that the prices of rentals in the capitals vary between 4.2 euros per square meter that are collected in Mérida and 16.5 euros per square meter in Barcelona.
Above 10 euros per square meter are Madrid (15.8 euros), Bilbao (11.7 euros) and Palma de Mallorca (11.4 euros per square meter).
In addition, Barcelona and Madrid stand out with respect to the other capitals analyzed, since the rents of homes of 90 square meters are located in these two capitals above the 1,400 euros per month.
Regarding the debt rate, again, Barcelona (44%), Madrid (40%) and Palma de Mallorca (34%) stand out for presenting borrowing rates to lease above what is desirable. In addition, they are the three capitals where renting a suitable house at the income level implies having to do without square meters.
When comparing the rent with the purchase, it is observed that, in general, acquiring a house of 90 square meters implies a monthly load of between 20% and 29% below the rental figures that are applied in that same market.
Gross rental profitability grows 5.51%
On the other hand, the gross profitability of the rental in Spain stood at 5.51% in the third quarter of the year, as evidenced by the quarterly statistics of apartments.com.
Specifically, the real estate portal has explained that this percentage is obtained by taking into account that the average purchase price of a home in Spain in the third quarter was 213,696 euros and the average monthly income of 982 euros, so the owners they obtained a total of 11,784 gross euros per year.
Compared with the same quarter of the previous year, there has been a slight increase in profitability, since in the period from July to September 2018, the average gross rental profitability was nine hundredths lower than this year (5 , 42%).
By autonomous communities, the gross profitability of homes for rent in Spain ranges from the profitability of 6.46% recorded in Aragon to 3.38% of the Balearic Islands .
The highest returns in the third quarter of the year have been recorded in Aragon , Castilla-La Manch a, Murcia , Navarra and the Valencian Community, while in the lower part of the ranking are La Rioja, Andalusia and the Balearic Islands , "due to the high purchase price of the properties and their high surface, "according to story.com.
In Madrid and Catalonia , which occupy the tenth and fourteenth positions, the returns have been 5.1% and 5.5%, respectively.
However, the real estate portal has affirmed that these two autonomous communities have the highest levels of purchase prices nationwide, but the high monthly income received by the owners of these two regions for the rental of their home "allows them to compensate for the initial investment made in the purchase of the asset ".
The director of studies of flats.com, Ferran Font, stressed that the pace of the Spanish real estate market depends on the interest of real estate investors and the income they obtain from the purchase and subsequent rental of a home.
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