The financial survey of families prepared by the Bank of Spain shows a downward trend in ownership of the main residence in all age groups, but especially among households in which the head of the family is under 35 years of age . In 2020, the ownership rate of the youngest households fell to 36.1%, which represents a drop of 33 percentage points since 2011, when this percentage stood at 69.3%.
If we stick to the three-year period from 2017 to 2020, the percentage of homeowner households decreases appreciably, but it is also among young people where the trend is especially notable. In this period, the percentage of homeowner households went from 75.9% to 73.9%, a fall of two percentage points, while in those under 35 years of age it fell 5.2 percentage points. There is also a drop of 5.6 points both in households in which the head of the family is between 35 and 44 years old, as well as in those in which he is unemployed or in another type of inactivity.
The estimate that households have made of the value of their main home shows that, for the owners, the median value of this home increased by 6.6% in the three years studied.
The survey also indicates that 45.3% of households owned real estate assets other than the main home. It is a percentage that increases with income, but even at the bottom of the income distribution there is a percentage of 26% of owners of secondary homes, lots and farms.
On the other hand, the percentage of indebted Spanish families who spend more than 40% of their gross income paying off debts, that is, who have a more vulnerable financial position, could rise to around 15% in the face of a possible rise in interest rates.