The ‘Emptied Spain’ looks towards the youngest. The high prices of housing in large cities, the increase in the cost of credit due to rising interest rates and inflation and the factors that are distant to these age groups from the ‘Urbanita’ real estate market and encouraging them to look for a residence in the middle rural.
According to Fotocasa, 6 out of every 10 people looking for housing consider the possibility of moving to rural areas and the percentage of young people who are inclined to make this change is increasing. In the group between 18-22 years old, the percentage of those who would choose this decision has gone from 9% to 22%. And the growth is also noticeable in slightly higher age ranges. For example, in the group of 25-34 year olds, the increase in 12 months has been nine percentage points to reach 16% of those surveyed.
Behind this choice lies not only the problem of prices in large cities, but also the efforts that rural areas are making to make it easier for these groups to work from areas that were previously ruled out. Seg push The European Commission Project, ‘A Vision for Rural Areas in the EU: Towards Stronger, Resilient Rural Areas and 2040’, New Technologies, Remote Working, or the Development of the Green Economy are influencing the acceleration of this social change.
However, it is still necessary to improve digitalization or infrastructure so that many rural areas can be suitable for these groups to develop professionally and help alleviate depopulation problems. Some areas do not have the “necessary facilities” to telework, which “can be an inconvenience for said choice,” says the Director of Studies and spokesperson for Fotocasa, María Matos.
Although not all of these moves are based on teleworking, since the group that chooses to change jobs and take a job in one of this area is also gaining representation. According to Fotocasa, the percentage of young people between 18 and 24 years old who are considering changing their home and job simultaneously has increased from 6 to 8% in just six months. When the teleworking variable is introduced, the percentage remains unchanged at 6%.
But Fotocasa perceives an aspirational inclination when asked about it. “There is 56% who aspire to be able to carry out this transfer one day in the youngest group, while those who are between 25-34 years old and the group of those aged between 35-44 years, They are not far behind in terms of aspirations, since they range between 48% and 49% respectively,” they indicate from Fotocasa.
Restrictions on sales and rentals
The decline of younger people in the real estate market is evident as prices increase. In the case of buying and selling, the intervention of the groups between 18-25 years old and between 25-34 years old has decreased five percentage points, going from 15% to 10% and from 30% to 25%, respectively. . In relation to rental, these age groups of those under 35 years of age have also seen their activity reduced, since among young people between 18-24 years of age the participation is 27%, that is, 7% less, as than the group between 25-34 years old, decreasing in turn by 6%. Looking at these data, fotocasa indicates that the financing terms affect those under 35 years of age more directly.
Faced with this situation, the Government has been proposing different alternatives so that those under 35 years of age can access their first home, since “they offer reductions in interest rates,” recalls Noelia Suárez, the spokesperson for Hipotecas.com, in a release. They also offer other options related to financing, something that may interest the younger sector, indicates the person in charge.
