3 Dec, 2016 @ 17:12
1 min read

Spain’s millennials turn their backs on home ownership

mijas e

mijas1MILLENNIALS in Spain are turning their backs on their parents’ dreams of owning a home.

The devastating real estate crash and ensuing rise in property prices has made long-term renting a much more attractive option for the younger generation.

The emerging trend is leading Merlin Properties Socimi to bet it can overtake Goldman Sachs and Blackstone Group in the rental market.

Spain’s biggest real estate investment trust is planning to almost double the units it has for rent by the end of the year, according to Chief Executive Officer Ismael Clemente.

Laurence Dollimore

Laurence Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

GOT A STORY? Contact newsdesk@theolivepress.es or call +34 951 273 575 Twitter: @olivepress

1 Comment

  1. The younger generation that I know have been without full time work for years, some as long as a decade, so renting would be their only option. They are not turning their backs on anything; they just don’t have a choice. As for the “ensuing rise in property prices”, this may be true in a few very larger cities, and expat bubbles like Marbella, but in real Spain locations such as inland Andalucia, house prices have still not recovered, indeed yesterday I passed a advert offering “2 flats for the price of 1”. I last saw that back in 2010.

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