By Euro Weekly News Media • 18 January 2011 • 9:49
ALICANTE – DUE to the difficulty in finding stable employment 21,000 people under the age of 34 in Alicante Province have been forced to move back with their parents. While in June 2009 there were 352,918 young people living independently in the Valencia Region – 141,000 of which were in Alicante Province – by June 2010, this number had reduced to 325,287 for the region and 130,000 for Alicante Province.
Despite the fall in housing prices in the province since the start of the recession, a high percentage of their salary is still required to pay for their home; 48.1 per cent on average if they buy on their own.
“It is inconceivable that such a large percentage of someone’s salary is required to buy a flat; the government should make it easier for young people to be independent,” believe Alicante Youth Councillors.
The average price of a home in Alicante Province is €154,720, according to Objovi.
In Valencia, the figure is slightly lower at €153,300, while in Castellon it is as high as €158,490.
There are more young women than men, under age 34, who live independently.
Until June 2010 there were 332,918 females in the Region – 57.6 per cent of the total – that had left the parental home compared to only 286,453 men.
While young men tend to rent a 55.5 square metre apartment, women rent 46.4 square metres, however if the apartment is bought then the size increases to 70 square metres.
By Nicole Hallett
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