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[BUSINESS] · Spain · 41 sources

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Spain housing crisis: Prices outpace wages by 3.6 times

A report by Comisiones Obreras (CCOO) reveals a widening gap in the Spanish housing market, noting that between the second quarter of 2013 and the same period in 2026, housing prices rose by 108% while average salaries grew by only 30%. This disparity means housing costs have increased 3.6 times faster than wages.

In the Balearic Islands, purchasing a 90-square-meter home requires approximately 12.2 years of full salary, significantly higher than the national average of 7.1 years. Additionally, buyers must typically secure savings equivalent to 30% of the property price for down payments and taxes, which represents about 2.1 years of salary.

The rental market also shows significant pressure. Between 2015 and 2024, new rental contracts increased by 37%, compared to a 21% rise in average wages. Furthermore, an Esade study indicates that large landlords—those owning five or more properties—charge rents up to 3.5% higher than small landlords, a premium that accounts for 18% of rental increases in Spain between 2019 and 2023.

Entities

Agencia Tributaria · Balearic Islands · Bank of Spain · Blackstone · CCOO · Comisiones Obreras · Esade · EsadeEcPol · Foundation for Applied Economics Studies · Fundalib · Institute for Fiscal Studies · Jorge Galindo

Claims

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Sources

Construir más, construir ya [cincodias.elpais.com]