People in Spain spent on average 43% of their gross salary on rent in 2022, according to a Fotocasa real estate portal study.
This is a 3% increase compared to 2021, when “only” 40% of people’s wage was destined to the payment of rent. And a 17% increment in relation to 10 years ago.
Last year’s rental housing price rise contrasted with the overall 0.7% decrease in wages, the study reveals.
Fotocasa research has revealed that current rent prices are the highest ever seen in the country.
Within Spain, Baleares and Catalunya have been identified as the autonomous communities where people spend the greatest percentage of their wage on rent, with 58%.
Comunidad Valenciana ranks seventh with 42% and Andalucia ninth with 38%.
Murcia is the third cheapest region on the list, and yet, residents there spend almost one third of their gross salary (32%) on rent.