mileuristas A couple in Spain can only aspire to a house of 69 square meters. According to a study by the real estate portal fotocasa.es reveals that a couple takes an average of 1,000 euros a month can buy a flat of this size if one looks at the average price of second hand property in Spain in the month March: 2,230 euros per square meter.
Despite these figures, the director of fotocasa.es, Christian Palau, said "the situation of a mileurista before the purchase option is beginning to show signs of improvement." Thus, according to data obtained by fotocasa.es in 2008, a couple of mileuristas could only buy a house of 56 square meters as the Euribor at that time was above 4%. In addition, the total value of the mortgage could not reach more than 148,000 euros, payable in monthly installments of 840 euros for 30 years.
in 2009 had access to a floor of 107 meters
For this calculation was taken as reference the average value of second-hand housing in Spain was 2,646 euros per square meter. By contrast, a year later when the Euribor fell to 1.2% and housing prices continued to fall to 2,356 euros per square meter, this sector of the population could buy a house whose mortgage is 107 meters would have a value of 252,000 euros.
to get the maximum area which can choose a pair of mileuristas, fotocasa.es analysis considered baseline figure the value of the average house price in Spain in March, according to fotocasa.es Real Estate Index, developed by the IESE business school.
On the other hand, for the calculation of the average mortgage fotocasa.es has the support of the company Bankimia that takes into account a 2.5% Euribor plus 0.75% rate applicable interest, giving rise to a maximum of 154,440 euros, payable in 27 years in monthly payments of 700 euros per month, corresponding to 35% of revenues, the maximum rate debt recommended by experts Bankimia.
fotocasa.es director, Christian Palau, he says, despite these figures is a good time to buy a home as prices have fallen by 25%, symptoms of the market is no longer going to produce large downward adjustments, interest rates are low (although with some upward trend) and there is a greater supply of housing .. "
Assess pros and cons before buying
and advised that "before buying a home, it is important to take stock of our economic situation: what is our job situation and what expectations have in their evolution, the level of monthly expenditure, as well as other factors such as costs associated with buying a home and resources themselves available to us. "
He adds "the thrill of being able to jump into home ownership sometimes prevents this analysis. But keep in mind that buying a flat is one of the most important decisions of life because it takes a commitment to 30 years. It is therefore very necessary to make a list of 'pros' and 'cons' before taking any step. "
Therefore, in the opinion of the director of fotocasa.es, "you always have to be realistic, and if after analyzing the situation we see that the purchase will mean an unbearable burden in our daily lives, Christian Palau recommends assessing other options "such as the rental or lease-purchase"
Source: Cotizalia.com
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