The Basque Youth Observatory presents the report The Cost of Residential Emancipation in the Basque Country 2023 (in Basque and Spanish).
This new report in the series analyses how much it costs, theoretically, for a young salaried person aged between 18 and 34 to emancipate on their own, either by buying a home or renting it.
To do this, ten indicators are calculated that reflect the theoretical cost of access to free housing, both in terms of ownership and renting. This is a theoretical cost because it is based on the average prices of free housing for sale or rent, the average salaries of young people and the standard conditions of mortgage loans (in the case of opting to buy), thus ignoring individual cases.
The data, and their evolution, are presented for the Basque Country as a whole and each of its historical territories. They are also broken down by sex and age group. And, for some indicators, comparative data is also available for Spain as a whole.
In the full report you can consult the values of the 10 indicators, their evolution, how they are calculated, the data sources used or the values for all young people under 30 years of age, among other questions.
The results of the report indicate that a salaried person aged between 18 and 34 would have to be over-indebted to be able to pay the mortgage or rent alone, according to current prices on the free housing market.
For this reason, the Basque Government has launched the Basque Strategy 2030 to promote the emancipation of young people.
One of the specific measures included in the strategy is the Emantzipa Programme, which provides direct financial aid to young people aged 25 to 29 who have bought or rented a home, in order to support, accelerate and help sustain their emancipation processes.
