More housing in Cadiz, more expensive and without the possibility of becoming independent


08/07/2024

Updated at 07:44h.

«Cádiz marks its historical maximum in housing prices», «The price of housing in Cadiz has grown by 37% in ten years», «Housing prices are growing more in Cadiz than in Seville, Madrid or Barcelona» o “Finding a long-term rental in Cadiz, a headache,” These are just some of the headlines in La Voz de Cádiz over the last few months regarding the housing crisis in the capital and the province. Data that is difficult to assimilate, but true.

According to the Idealista portal, the average price of housing in the province of Cadiz is 2,885 euros per square metre and the cost has risen by 11.1% in the last year. According to data from www.pisos.com in the specific case of the province of Cadiz, the year-on-year growth is set at 13.43%. In April 2024, the price per square metre in Cadiz was set at 1,897 euros, 0.05% more than in April, when the average cost was 1,896 euros. If we focus on Cadiz capital, the average purchase value has grown in the city by 5.7% in the last year, an increase greater than that of other large cities in Spain such as Madrid (3.9%), Barcelona (3.9%) or Seville (4.2%), although it is true that other provincial capitals in Andalusia such as Malaga have suffered a greater increase, specifically 11.1%, data that is collected from the update of the first quarter of 2024 of the Tinsa report. According to data from Fotocasa, the price per square metre for sale in the capital of Cádiz has grown by 37.82% in the last ten years. In April 2014, the average price per square metre in Cadiz capital was 2,035 euros, while in April of this year the average price has reached 2,802 euros. Cadiz is the sixth provincial capital with the highest value per square metre in Spain. It is only surpassed by Palma de Mallorca (2,773 euros), Barcelona (3,701 euros), Madrid (3,722 euros), Bilbao (2,767 euros) and San Sebastian (4,255 euros).

Not only have prices increased, but the housing stock has also grown. According to data from the Ministry of Transport and Sustainable Mobility, there were 533,326 homes in the province in 2003, while in 2023 the number had grown to 654,357 homes, an increase of 18.50%. Significant is the decrease in non-primary dwellings, which in 2003 represented 45.29% of the total and in 2023 only 28.40%. Non-primary or vacant dwellings have grown by 6.2% in this decade in the province of Cadiz, according to Tinsa.

According to data from the National Institute of Statistics, Olvera is the municipality in Cadiz with the most empty homes, out of 5,410 houses, 1,575 are free. The municipalities with the highest percentage of empty homes are in the Sierra de Cádiz, such as Puerto Serrano (23.30%). On the other hand, in the capital of Cadiz only 5% of flats are unused, compared to 14.6% ten years ago.

Therefore, a very concrete summary of the housing situation in the province of Cadiz would be that there are more and more houses being built and at a higher price, which makes it difficult for young people from Cadiz to become independent.

12.9% of people under 30 years old leave home in Cadiz

Emancipation has become a significant challenge for young people in the province of Cadiz today, facing a number of economic, social and employment obstacles. One of the main problems is access to affordable housing. Rental and purchase prices for housing have increased considerably, as seen above, while wages have not grown at the same rate. This makes it difficult for young people to save enough for a deposit or cover the monthly costs of a rental.

Precarious employment is another crucial factor. Many young people work in temporary, part-time or low-paid jobs, which limits their ability to plan financially for the long term. Lack of job stability prevents young people from committing to long-term rental contracts or being eligible for mortgages.

A priori, a larger housing stock in the province of Cadiz would facilitate the emancipation of young people from Cadiz. Basic law of supply and demand. However, the situation is totally opposite, since According to the report of the Emancipation Observatory of the Youth Council, only 12.9% of people from Cadiz under 30 years of age manage to emancipate themselves, while the average in Spain is 16.3%.

If we analyze the salaries of young people from Cadiz, The Institute of Statistics and Cartography of Andalusia reflects that by age group, in 2022 a Cadiz resident under 30 years of age earned on average only 9,541 euros, Only in Huelva and Seville were salaries lower, while in the age group between 30 and 39 years, it rises to 16,426 euros gross per year. On the other hand, in the province of Cadiz, people with between ten and fifteen years of experience earn 16,672 euros on average.

By sector, the highest salaries in the province of Cadiz, according to the Institute of Statistics and Cartography of Andalusia, are those earned by public service workers, such as doctors or nurses, for example, with an average salary of 26,613 euros, followed by the industrial sector with an average annual salary of 25,131 euros, in construction 15,915 euros, in commerce and hospitality 21,162 euros and another 8,005 euros in agriculture.

In addition to these low salaries that prevent young people from becoming independent, there are precarious contracts. In the first four months of the year (January-April), a total of 35,085 permanent contracts were signed in the province of Cadiz in 2024, according to data published by the State Public Employment Service. In January, the number of contracts was 8,064, in February another 8,490, in March up to 8,643 and in April the figure was 9,888 permanent contracts. Of the total of these contracts, only 13,697 were permanent full-time contracts, that is, 39%, so that not even four out of ten permanent contracts signed in the province of Cadiz are full-time. One in three permanent contracts signed in the province of Cadiz are of the fixed-discontinuous type. Fixed-term contracts are the main protagonists in employment since the labour reform. In Spain, in May alone this type of contract increased by 8.7% compared to April, with 87,342 more, while full-time permanent contracts only increased by 0.4% and part-time permanent contracts by 0.5%. In the province of Cadiz, between January and April the number of permanent contracts has increased by 59.95%. A fixed-term contract is a type of permanent contract that is characterised by the fact that the work performed is discontinuous, that is, it has periods of activity and others of inactivity, but without breaking the link with the company.

«In my group of friends we all live with our parents»

There are many young people in the province of Cadiz who have problems becoming independent. One of these people from Cadiz is Lauraa 26-year-old from Puerto Real, who works while studying for the civil service exams for the Government. “In my group of friends we all live with our parents, and not all of them have a stable job.”

“I have a permanent-discontinuous contract at my company and while I study for the exams,” a situation that “is often difficult to combine, because you come home tired from work or you have a day off and you have to start studying.”

“For us, saving 15,000 euros to make a down payment on a flat is very difficult, because we try not to depend on our parents, but our salaries are not enough to buy a house,” while renting “I see it as a trap, it is a short-term solution, but if you go to rent a house, I think it would be impossible for me to save up to buy something.”

Similar situation suffers Javi. «Young people want to be independent, but we can’t.» In Cadiz «almost all the apartments are for holiday rentals», so «when summer comes you have to go back to your parents’ house or find something more temporary.»

In her case, she has been able to move in with her partner, but on a rental basis. “To buy a house we couldn’t have gone to live together on rent” because “our ability to save has been reduced to pay a down payment in the future.”

Article for subscribers only

Access without limits for the best journalism

See comments

 
For Latest Updates Follow us on Google News
 

-

PREV ORPESA SECURITY | Conference on cyber security for female entrepreneurs in Orpesa
NEXT “We expect a lot more from him”: Adrien Rabiot criticises Antoine Griezmann for his poor form at the Euros | Football | Sports