Spain’s Housing Costs Strain Finances, Widening Inequality
Madrid, Spain – Housing costs in Spain are increasingly becoming a significant financial burden, particularly for renters, according to a new report by Oxfam Intermón. The study, based on a survey conducted by 40dB, reveals that tenants are facing greater financial strain than homeowners, even those with mortgages.
The report highlights a concerning trend: in Spain, the type of housing one occupies is becoming a more significant factor than employment status in determining financial well-being. Alejandro García-Gil, Oxfam Intermón’s head of social protection and employment policies and coordinator of the study, explained that the statistical model revealed a larger disparity than anticipated.
The research focuses on two key indicators – the percentage of income dedicated to housing costs (effort rate) and the ability to save. These are intrinsically linked, as housing payments typically represent a household’s largest expense, directly impacting savings capacity.
The findings underscore a growing inequality within Spanish society, where secure housing is increasingly out of reach for many. Oxfam Intermón’s broader “Vivir la Desigualdad” (Living Inequality) survey aims to provide a comprehensive understanding of the multiple dimensions of inequality in Spain. The organization’s previous work has highlighted the impact of inequality on daily life and societal well-being.
This report adds to a growing body of evidence demonstrating the challenges faced by renters in Spain, and the need for policies addressing housing affordability. Further details on Oxfam Intermón’s research can be found on their website: https://www.oxfamintermon.org/es/encuesta-vivir-desigualdad.