Half of the EU owns more dwellings than Spain: an overview of the situation.

Spain has interrupted the last decades: year after year it has fallen in the ranking of home ownership in the European Union. In other words, it ranks increasingly high among the countries with the highest percentage of rental homes. Of the total housing stock, 77.8% is owned, compared to 96% in Romania or 82.7% in Norway. This puts it in 15th place in the ownership ranking.

By the end of 2016, our ownership rate was 77.8%, down 0.4% from 78.2% in 2015. Compared to 2008, when the real estate market collapsed, the share of ownership fell by 2.4 percentage points, according to Eurostat.

On the other hand, the rental housing market is developing. Our rental housing share is 22.2%, up from 21.8% in 2015 or 21.2% in 2014. In general, the leading European powers have reduced home ownership in recent years. In Germany, for example, the ownership rate was 51.7% by the end of 2016, up from 53.3% in 2005. In the UK, the percentage dropped from 70% in 2005 to 63.4% in 2016.

Renting is here to stay.

Renting is one of the most significant changes in our country's real estate market since the boom times. This housing option is becoming increasingly popular due to factors such as geographic mobility and limited home buying opportunities for young people. Lack of savings to get a mortgage and low wages are becoming major barriers for young people.

The rental assistance provided in the Housing Plan 2018-2021 is for different groups of people, not just young people:

• Assistance for those under 35 years of age. Tenants receiving no more than three times the IPREM amount (€22,558 per year across 14 payments) and who do not have a property in Spain can receive a subsidy of up to 50% of their monthly rent, provided it does not exceed €600. In cities such as Madrid or Barcelona, where rent prices are higher, the limit for assistance increases to 900 euros, but in this case the subsidy is reduced to 30% of the monthly rent between 601 and 900 euros. The rental property must be the main home for three years.
• Assistance for persons over 65 years of age. Retired tenants can also benefit from assistance of up to 50% of the monthly rent provided that their property does not exceed €100,000, they have no real estate in Spain and they receive a salary corresponding to three times the IPREM for pensioners, similar to the income of persons under 35 years of age.
• The subsidy for persons between 35 and 65 years of age. For all other tenants, regardless of age, the conditions for family income not exceeding three times the IPREM amount (22,558 euros per year for 14 payments) and no real estate in Spain are maintained, but the subsidy is no more than 40% of the monthly rent if it does not exceed 600 euros. In cities such as Madrid or Barcelona, where rent prices are higher, the limit for assistance increases to 900 euros, but the subsidy is reduced to 30% of the monthly rent between 601 and 900 euros. The rental property must be the primary home for three years.
• Assistance for evicted persons. Persons affected by the termination of a loan on their residential property or eviction from rented accommodation can also receive assistance of up to €400 per month to help pay rent. The rent for these apartments must not exceed 400 euros per month, so the subsidy can reach 100% depending on the situation over three years.
• Assistance for families with special characteristics. For large families, an eligibility allowance of four times the amount of IPREM (i.e. up to 30,078 euros per year), as well as for families with a member with a disability of at least 33%. The maximum limit for families with special large families (four or more children) and for families with members with severe disabilities is five times the IPREM amount (€37,597.95 per year).