Cheaper to buy than to rent in Spain

TENANTS in Spain are left with less money in their pocket at the end of the month than people who own their homes.

Based on average income weighed against average rental prices, families living in rented accommodation have to allocate 27% of their income to meet monthly payments, according to property website pisos.com.

In comparison, homeowners fork out just 22% of their income on mortgage payments, leaving them significantly better off.

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