30% of the average salary in the Canary Islandswhich is around 1,825 euros per monthaccording to the InfoJobs platform, It only allows renting a home of about 43 square metersjust over half of a typical home (established at 80 square meters).
According to the latest study ‘Relationship of salaries and the average home purchase’ of the Fotocasa real estate index, by province, allocating 30% of his salary, in The Palms You can afford to rent a 41 m2 home, compared to the 45 m2 in Santa Cruz de Tenerife.
In Spain as a whole, 30% of the average salary -2,033 euros per month- allows you to rent a home of about 54 square meters, that is, 26 meters less than a typical home.
In the report, Fotocasa explains that taking into account the average monthly gross salary in Spain in 2022 and the price per square meter of rental housing in August 2023 (11.34 euros per square meter per month), the average Spaniard could rent only 54 square meters of housing with the 610 euros that means allocating 30% of the recommended average salary.
Fotocasa explains that official control bodies recommend allocating approximately 30% of income to paying for housing in order to be able to live comfortably and cover the rest of the month’s expenses.
Likewise, it points out that if a third of the gross monthly salary is equivalent to 610 euros (54 square meters of housing), the average Spaniard would need an additional 297 euros to be able to rent the 80 square meters that a typical home has in Spain.
“The reality in our country is that job insecurity and the rate at which housing prices increase do not allow citizens access a typical 80 square meter homebut they are forced to settle for one that is smaller in size,” explains the Director of Studies and spokesperson for Fotocasa, María Matos.
Fotocasa adds that although the law establishes that a home must have at least 25 square meters to meet the necessary habitability requirements, it is logical to think that the more members a family unit has, the more space is needed to ensure coexistence with minimum conditions of comfort. and health.
Residents of the Canary Islands, the fifth who spend the most money on rent
In the Balearic Islands, with 30% of the gross monthly salary (equivalent to 582 euros), a resident can rent a home of 34 square meters. That is, 46 square meters less than the standard size of a home in Spain.
Fotocasa indicates that in order to rent a home of that standard size in Balearic Islands, a resident would need to add 779 euros to the budgetreaching a total of 1,361 euros per month, since the average price is 17.01 euros per square meter per month.
Regarding the size of the home, Fotocasa makes a list of other regions with the meters that can be rented with the average salary in Spain from lowest to highest.
At the head are Madrid and Barcelona (39 square meters), followed by Basque Country (42 meters), Canary Islands (43), Cantabria (46), Valencian Community (fifty), Navarre (57), Andalusia (63), The Rioja (64), Galicia (65), Aragon (65), Asturias (66), Castile and León (67), Murcia Region (69), Castilla la Mancha (90) and Estremadura (96).
By province, in Ciudad Real, with 30% of the gross monthly salary (equivalent to 625 euros), a resident can rent a home of 118 square meters, while in provinces such as Málaga or Santa Cruz de Tenerife they could only rent a home of 118 square meters. about 45 square meters
