Young people are trapped in the rental market. Buying a home is a want and I can’t for two reasons: high prices and high interest rates. In the current inflationary context, saving for a down payment on a house is practically an impossible mission, but those who manage to save some money at the end of the month find that it is not enough to face the excessive prices of real estate. According to IV Solvia Market View 2022, the value of homes closed the last quarter of the year at 1,951 euros/m2, 0.4% less than the three previous months, but still 5.3% above the cost registered in the same period of the previous year. Those who manage to overcome the savings and price barrier run into another bump: mortgage interest rates have skyrocketed, which means that only a few young people can afford to pay the monthly installment.
Aware of this situation, and with the With the objective of providing this group with access to a property they own, Solvia has launched the campaign “We will return the money from the entrance of your new house”. Through this promotion, valid for offers received until May 10 -with the condition that they formalize the public deed of sale before June 30-, real estate services firm will raffle 6 checks of 10,000 euros among the buyers of a selection of 1,090 homes of all kinds with the aim of encouraging and making it easier for young people to buy a home, although there is no criterion that excludes people of all ages from participating.
Residential properties included, especially flats and villas, have a price between 100,000 euros and 250,000 euros (144,031 euros on average), an average area of 134m2 and are spread throughout the Spanish geography. In this sense, the communities with the largest number of homes would be Catalonia (390), the Valencian Community (267), the Region of Murcia (130), Andalusia (87) and the Community of Madrid (42). At the provincial level, Barcelona (202), Alicante (160), Valencia (92), Gerona (89) and Tarragona (78) stand out.
In terms of price, the Valencian Community, with an average cost of 131,891 euros, and the Region of Murcia (138,073 euros) are the cheapest markets in the Solvia campaign. At the other extreme are Catalonia (152,431 euros) and Andalusia (150,256 euros), as the regions with the highest prices. By provinces, the areas with the most adjusted property values are Alicante (131,218 euros) and Valencia (131,262 euros), while Barcelona (157,143 euros) and Gerona (150,825 euros) would be some of the territories with the most expensive homes.