2023-11-18 17:30:00
Young people “from southern Europe and, as a general rule, from the Mediterranean arc”, born between 1980 and 2005, experience difficulty accessing housing, reveals the study which analyzes the situation in Morocco, Spain, in Italy, Portugal, Lebanon, Tunisia and Jordan. Unemployed and with limited resources, these young people aged 18 to 34 often need the support of their loved ones to buy housing. In Spain, 26.5% of young people under 35 still live with their parents, a rate higher than the 23% in Portugal, but lower than the 29.5% in Italy or almost 50% in Tunisia, notes the study.
“In Spain, only 30% of young people consider themselves capable of dealing with economic emergencies, while 40% have difficulty saving in the short term,” indicates the study, specifying that few young people aged 25.3 on average manage to acquire housing. And the trend is unlikely to reverse in the next two years. Most young people surveyed do not see themselves owning a house by this deadline. “In Spain, 39% believe that the possibility of becoming independent in the next two years is low or very low, while 31% believe that the probability is high or very high,” the document highlights.
To read: Housing aid in Morocco: conditions and terms of granting
In the long term, the outlook seems more encouraging. “By extending the horizon to five years, more than half of young people (a little over 50%) believe that it is likely that they will be emancipated,” underlines the study. The Esade think tank and the Friedrich Naumann Foundation, authors of the study, have made proposals for responses to this problem. Firstly, they invite the authorities to invest more in housing. “Governments should allocate larger budgets to housing development. By directly increasing the supply of social housing, particularly for low- and middle-income households, availability can be improved and pressure on supply reduced,” they believe.
The authors also call for offering tax incentives to the private sector to create affordable housing. “Strengthening public-private partnerships can result in larger housing projects that serve a wider audience. Establishing clear frameworks for these partnerships, ensuring transparency and mutual benefits, can lead to a significant increase in the supply of housing,” they insist, urging political classes and societies as a whole to join hands to meet these challenges, because “young people represent the future of a country”.
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