The average Basque salary does not allow buying a flat

The Basque Country is among the five autonomous communities in the state where real salaries are quite insufficient to be able to afford the purchase of a flat. This is based on the Housing Accessibility Index calculated by the Appraisal Society for the first quarter of 2016, based on real estate prices and rent differences by territory. For the index, the quota allocated to the payment of housing is obtained after submitting the salaries received to different financing calculation hypotheses, and the ideal result should be 100. The Spanish average is 102, not too far from the ideal set. However, in the Basque Autonomous Community the index is 84. The other four autonomous communities with a negative proportion are the Balearic Islands (50), the Community of Madrid (84), Cantabria (87) and Catalonia (94).

When the index began to be calculated at the beginning of 2012, as reported by Cinco Dias , all the autonomous communities were below 100, which clearly indicates a sharp decline in prices in most regions, where now, theoretically, the typical household could choose to buy a home. The degree of effort to buy a home, translated as years of full salary of an average citizen that must be allocated to the purchase of a typical property, is an average of 7.6 years of salary in the State, but in 2007, before from the bursting of the bubble, it was 13.7 years. According to the experts cited by Cinco Días, the ideal is 4 years. When will the favorable trend be cut short again?