Times change and young people prefer to rent
For past generations, the purchase of a home was implicit in the process of personal maturity; it was a goal to fulfill and a symbol of success for society. Purchasing a house was not too difficult, there was economic and job stability so getting a mortgage was not impossible, but times change, generations pass and society adapts to new times and setbacks.
Young people under 35, better known as millennial, are a generation that shows no particular interest to invest in a home for different reasons that have enough weight for them. Millennia's prefer to spend their savings on other aspects such as travel, for some young people the idea of being tied to a lifelong mortgage is something almost unthinkable, an idea they do not contemplate until they reach a greater age. Despite being a more consumerist generation, they prefer to invest more in experiences.
Among the other factors that affect the millennia's' decision to prefer renting a house purchase is of course the lack of both economic and labor stability. Low wages, unstable contracts and high housing prices mean that 80% of young people do not want or do not create a home to own.
44% of those under 30 have not yet become independent and according to the Emancipation Observatory of the Youth Council, this figure could continue to grow in the years to come.
Of course, each person has different needs and among the range of millennia's we can find a segmentation based on the needs of each group. Among those who grow the most interest in renting are the working couples without children who represent 45%. We found a 38% of the so-called singles (young people who prefer to live alone and not share a flat), and finally we have families with children with a 17% a percentage that although it seems low in comparison with the rest is predicted that it will be able to increase.
More and more families prefer the option of renting, especially if they are families where the parents are under the age of 35. In this sense, the new family nucleus bases its search of rent in zones of high cultural value that offer good education centers for their children. In Barcelona, the neighborhood of Gracia is one of the most requested by these new families who are looking to rent flats in Gracia affordable, comfortable and with a high cultural offer for their children to enjoy.
If you are looking to rent flats in Gracia, from No+Lloguer we advise you to get the best rental agreement soon with all the guarantees.