JUST 16% of young Spaniards aged between 16 and 30 years old have managed to move out of their parents’ home, compared to the European average of 32%.
That’s according to the latest Emancipation Monitor report from the Spanish Youth Council, which details that this percentage works out as just seven million youngsters in that age range who have been able to move away from the family household.
The figure represents a fall from the 19% that was recorded before the Covid-19 pandemic and resulting health crisis, and is a far cry from the 26% registered before the Great Recession hit in 2008, according to figures cited by Spanish daily El Pais.
Among the factors that are causing this problem in Spain are high youth unemployment, which came in at nearly 28% for the under 25s according to the latest available data from the National Statistics Institute, as well as the high price of housing and rental accommodation.
The data from the report shows that a young person earning the average net salary for their age of €1,005 a month would be short around €77 to cover rent and costs. In other words, 93% of their income would have to be spent on their accommodation.
What’s more, a youngster in Spain would need to save the equivalent of four-and-a-half years’ salary to be able to buy their own property.