Simon Hunter
ANYONE who has been living in Spain in recent years cannot have failed to notice the spiralling cost of living, in particular since the Russian invasion of Ukraine in early 2022. But it’s not just groceries, fuel and leisure that have seen prices jump, but also rents.
Residents of the Andalucia region are now spending as much as 30% of their salaries on accommodation, according to a new study from online property service Fotocasa.
What’s more, tenants are getting less for their money than they were a decade ago, with 30% of a monthly salary covering a property measuring just 62 square metres.
That’s a reduction of 31 square metres compared to 10 years ago, and a full 21 square metres compared to prices in 2018.
The figures, as reported by online news site Andalucia Informacion, show that a monthly rent of €545 would have got the average tenant in Andalucia a property measuring 93 square metres a decade ago.
Now, however, salaries have risen slightly meaning that 30% of an average wage is €588. This will only stretch to a 62-square-metre property.
The issue is not limited to Andalusia, however, and is reflected in the figures across all of Spain.
Taking the country as a whole, the average tenant in Spain currently has to dedicate 47% of their salary in order to rent an 86 square metre property, compared to 30% a decade ago.
Read more:
- Malaga and Granada among Spain’s top 10 cities with the highest cost of living
- Spanish Cabinet extends raft of measures put in place to help ease cost-of-living crisis
