Although some say young people should rent instead of buy, surveys say otherwise. The idea that renting saves money makes no sense and only seems to want to control young people by making them more dependent.

Let's take a look at the housing market: Rent or Buy?

Almost half of young people want to buy a house. If we look by age, around 30% of people between 25 and 34 years old and 13% of those between 18 and 24 years old want to buy a house, according to a study called "X-ray of the housing market" carried out by Fotocasa Investigation. Additionally, there have been fewer people renting homes in the first group, dropping from 34% to 26% from 2022 to 2023.

When it comes to the housing market, age matters. Young people have different needs than older people. The report shows that young people are the ones who have caused the most changes in the real estate market during the year 2023.

As we increase in age, market share decreases.

Young people are buying more homes.
When we look at who is buying homes by age, we see that everyone has similar behavior, with small differences. More and more young people prefer to stay at home before renting, and wait until they have enough to make a down payment and buy.

Young people will be a very important segment in 2024 and in the coming years because they will be the buyers of the future. They want to be homeowners, but many cannot due to lack of savings to pay the down payment on a house. It would be good if the government offered help so that young people can buy.

The rental market is slowing
Participation in the rental market is declining, except for young people, due to their purchasing power, related to stagnation in wages for 15 years now. The percentage of young people who rent a house has increased slightly compared to 2022 (from 34% to 35%).

It is normal for young people to want to buy and be less interested in renting, especially now that rent is more expensive than ever. Many young people want to buy instead of rent. The market and the government must help young people to buy.

On the other hand, there are more young people looking for houses to rent but cannot find them, especially in a market with such high prices. Some prefer to wait for prices to drop or save more to be able to buy a house instead of renting for young people.