73% of Spaniards who live in rented accommodation have considered buying a home

• The data from the Vía Célere barometer reveals that 73% of Spaniards own a property, while 21% live in rented accommodation.
• Sustainability and respect for the environment are increasingly influential elements when choosing a home.

According to the latest barometric study by Vía Célere, real estate developer specializing in the development, investment and management of residential assets, 74% of Spaniards own their own home, where the areas of Andalusia (85%), Aragon (76%) and Asturias (75%) are at the top of the ranking.

In contrast, the data shows that 21% of Spaniards live in rented accommodation. By age range, young people between the ages of 25 and 34 are the ones who rent the most, while the Canary Islands (37%), Catalonia (29%) and Galicia (26%) are the autonomous communities in which this trend is most common.

The study also shows that 73% of those who live in rented accommodation have considered buying a home. Even so, they recognize that there are barriers preventing them from accessing their own home, such as economic limitations (25%), lack of stability to take up a final residence (24%), reluctance to sign a mortgage (18%) and the inability to obtain financing (17%).

38% of homes were bought between 2000 and 2009, while 37% were bought before the year 2000. In addition, 6 out of 10 Spaniards indicate that the purchase price of their current home was less than €150,000.

Location and prices are the highest indicators of satisfaction 

84% of Spaniards say they feel quite or very satisfied with their current home, with Madrid and Andalusia being the best positioned in this regard (91%). The location (68%) and price (64%) appear as the major determining factors when choosing a home, although the services in the area and the construction qualities also play a very relevant role.

Flats (68%), followed by chalets or houses (22%) are the type of residence most demanded in Spain. Regarding the size and type of Spaniards’ homes, 46% live in homes between 81 and 120 m2 and 50% state they live in a new-build home.

The possibility of personalizing the home is the characteristic for which 74% of Spaniards would be willing to pay a higher price, followed by an A energy rating (73%) and a large kitchen (70%). Common areas are also very attractive when choosing a residence. Having a park, a dog area and a nearby bar are highly valued by buyers. In addition, the study data reveals that, the younger their children are, the more they take into account the possibility of having recreational areas.

High intention to move and purchase a home

35% of Spaniards state that they intend to move home in the next 5 years, while more than half of those under 34 years of age plan to change their place of residence in the same period. 74% of those who want to move to a new home say they intend to buy it, compared to 26% who plan to rent.

In general terms, the reasons that lead Spaniards to change home are the need for a change in surroundings (17%), the desire to live in a higher quality home (16%) and the search for a better area to live (15%) Among young people between the ages of 25 and 34, plans to extend the family stands out as the most important factor for change.

Generational change in housing purchase processes

As regards purchasing processes, two clear trends are observed marked by a generational factor. The youngest buyers choose real estate websites as the main home search method  (47%), while those over 65 searched for their home by researching the area (45%).

The financial conditions and the negotiation of the house price are the most important aspects when making the decision to buy or rent a house. In this sense, half of those who are going to buy a house prefer to be advised by real estate companies or construction companies that they feel they can trust.

A energy rating, a key factor in the purchase of a home

In a context in which the debate about the environment is increasingly present, more than 70% of Spaniards claim to be very committed to environmental issues. In addition, 65% of the population states that sustainability and respect for the environment are two factors that greatly or significantly influence the future purchase of their home. In this sense, 73% of Spaniards say they would pay more for their home if it had an A energy rating.

ABOUT THE STUDY

Barometric study conducted by MADISON, Market Research at national level on a sample of 2,000 participants. The basis of the study was carried out by stratified random sampling considering quotas of sex, age and Autonomous Community.