hit tracker
Saturday, April 20, 2024
HomeLatest NewsThe month of September shows the reality for renting in big cities.

The month of September shows the reality for renting in big cities.

Date: April 20, 2024 Time: 16:34:08

With the end of summer, the big cities fill up as the coastal areas become empty. During the months of July and August, places like Madrid seem to rest from the frenetic life that awaits you starting in September. Many young people leave their places of residence behind in search of opportunities to study or work in large cities.

In this context, searching for apartments or rooms to rent seems like an impossible task for many. The high demand that exists, added to the current low supply, has skyrocketed rental prices throughout Spain. Faced with this complex situation, the only option that most young people have is to share a flat, however, as prices currently stand it seems like a luxury for many.

According to a report published by the idealista real estate portal, the supply of rooms in shared apartments has grown by 34% in the last year. Sharing a home in Spain currently costs 455 euros per month, 50% more than 5 years ago and 78% more than in 2015, when on average the price was 258 euros per month, reports Fotocasa. ”The average salary in Spain is 2,100 euros per month, but the recommendation is not to spend more than 30% on rent, which means that the majority cannot afford a full rental of around 900 euros. The rise in rental prices has led many to share housing as the only affordable option for young people,” explains María Matos, Director of Studies and spokesperson for Fotocasa.

There are big differences between communities regarding the price of renting rooms. From Fotocasa they point out that there are two communities with an average price above 500 euros, which represents almost 50% of the Minimum Wage in Spain, they are Catalonia and Madrid, with an average of 565 and 502 euros per month. In the second step, exceeding 400 euros, are Navarra, the Basque Country, the Balearic Islands and the Canary Islands. Regarding cities, Barcelona tops the list with an average price of 590 euros per month. Bilbao is next with an average of 536 euros per month, closely followed by L’Hospitalet de Llobregat with 534 euros per month, and Madrid Centro with 522 euros per month.

With this situation it seems impossible for the new generations to be emancipated, Spain being also the country of the European Union with the highest youth unemployment. Even young people with a qualified job have great difficulty becoming independent. ”My partner and I are experiencing a very frustrating situation. We have been looking for an apartment to rent for some time but the high prices and the harsh conditions imposed by the owners make it impossible. In addition, the rentals for young people that they offer from the Community of Madrid have a long waiting list, from 1 to 2 years, they told us,” says Alberto Fernández, a 26-year-old podiatrist.

”When I landed in Madrid four years ago I had to start looking for an apartment 5 months before. It was chaos coinciding with the real estate agents and owners to balance the visits on the same days that I went up to Madrid since I am from Seville. Many alternatives I had were picked up very quickly so the options were very low. Now I’m still in the same apartment as four years ago and, although I would like to change, every time we look at other places there is very little offer. Also, the prices are higher than ever. I’ll probably have to stay sharing a flat for many more years,” says Raquel Sinde, a BNP Paribas worker.

However, in addition to the difficulty that young people have with high prices, there are other problems when it comes to renting a flat or a room. In many cases, the high demand causes you to have to rent the house without basically being able to see it, since it is very likely that someone else will take it from you. Thus, different scams or deceptions can be produced, from lying with the dimensions or with the photos, to putting up a false publication and trying to scam customers.

”I’m not getting my money back”

This is the case of a girl from Bilbao who has just arrived in Madrid and who prefers not to reveal her identity. She tells La Información that she has been the victim of a scam through an offer that appeared on one of the best-known real estate portals. ”I spoke with my supposed roommate for several days, since she was the number that appeared on Idealista. She gave me the landlord’s phone number and I contacted him. I spoke with the owner to enter in September and he sent me the contract. I checked it and didn’t see any irregularities. The ID number appeared, her passport, the bank account… he asked me to pay him the first month and the deposit, that is, 1,200 euros. I agreed without seeing the apartment basically since it was the only option I had left as I had to start working a few days later. From the moment I paid him, neither the landlord nor my supposed partner responded to my messages or calls. I have reported and supposedly they are going to investigate. But it seems impossible for me to recover the 1,200 euros I gave.”

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments