What's the solution for the housing shortage in Spain? Building smaller flats, one top economists suggests.

Said economist, Gonzalo Bernardos, who appears regularly on national TV, asked, “Why build one dwelling of 80 sq/m where you can build two of 40 sq/m?” 

Young couples or individuals who want independence from their parents can afford something that small and it puts them on the property ladder. They can buy something bigger when their lives are more settled and relationships are stable.

It’s not only about mortgages, but also rentals, again with more affordable rent to find each month.

The fact is, he says, that flats of 40 or 50 sq/m are selling like hotcakes because if you don’t need a lot of room, they fit the bill.

Such is the situation at the moment that young people are taking out mortgages, not for a house or flat, but for a room in one, and you’re looking at around 60,000 in towns around the province but 120,000 on the coast or in the capital.

For somebody who is young looking for sleeping under his or her own roof, be it purchased or rented, it’s not about having all that a home should have, but simply having privacy; not waiting for a bathroom to become free; not having to label your food in the fridge because you’re sharing a flat with three others, each paying a slice of the rent.

He concluded that if developers can build two flats in the space where there would be one, then housing needs are being halved.

Editorial comment: what do you think?

(News: Granada, Andalucia)

Keywords: Building Smaller Flats, 40Sq/M, Leading Economist, Gonzalo Bernardos, Coast, Capital, Young Couples, Individuals Seeking Independence, Rentals, Mortgage

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