Access to housing is more complicated for single people. To be able to buy the most economical type of property, the study would require an average minimum net income of 20,920 euros per year in Spain, according to an analysis published by idealista.com.
With this net income, a single person could afford to pay the 523 euros that would be sufficient to pay a mortgage installment for an average studio apartment in Spain, whose price is 159,000 euros. In addition to affording this installment, they would need to provide a total of 47,700 euros previously saved, which would be necessary as a down payment of 20% of the non-financed value and approximately 10% for expenses and taxes.
On the other hand, if one opts to rent a studio apartment, the necessary income would rise to 34,000 euros net per year, which would be needed to pay the 850 euros per month it costs to rent a single-room dwelling in Spain without exceeding the 30% of income recommended by experts.
The study also provides data by province, and Las Palmas, which includes Lanzarote, Fuerteventura, and Gran Canaria, is the fourth most expensive in the country for a single person to buy a home. A single person would have to earn 25,800 euros net per year, without forgetting the need to provide 30% of the entry value.
Only the provinces of Balearic Islands (31,920 euros), Madrid (30,480 euros), and Biscay (27,000 euros) require a higher salary. After Las Palmas are Guipúzcoa (25,040 euros), Santa Cruz de Tenerife (25,040 euros), and Navarra (23,960 euros). Above 20,000 euros are also Málaga (23,720 euros), Seville (22,400 euros), Valencia (22,040 euros), Pontevedra (20,800 euros), Lleida (20,520 euros), and Barcelona (20,400 euros).
Segovia, for its part, is the province where a single person must earn the least to access the purchase of a studio apartment: only 6,600 euros net per year. Below 10,000 euros are Ciudad Real (9,600 euros), León (9,680 euros), and Cáceres (9,880 euros).
If one wants to rent a studio apartment while adhering to the 30% rule, the necessary net income is higher in all provinces, with the Balearic Islands requiring the largest salary: 44,000 euros net per year to rent a studio. They are followed by Barcelona (40,000 euros) and Valencia (39,000 euros). Ciudad Real and Ávila are where a single person must earn the least to be able to access a studio apartment for rent, with 17,000 euros in each province.
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