Overview
- Average new mortgage payments of about €605 a month equal roughly 44% of a typical under‑35 net salary of €1,382, far above the 30% risk threshold cited by experts.
- Banks usually cap loans at around 80% of the purchase price, which leaves first‑time buyers needing roughly €40,000 upfront for the deposit and fees.
- Average rents in Galicia rose about 63.8% from 2015 to 2025 to nearly €600 a month, which makes it hard for young workers to save for a down payment.
- Homeownership has shifted older, with first‑time buyers averaging 42.5 years and only about 30% of under‑35s owning a home.
- New housing supply remains thin, with starts down from 45,383 in 2007 to 4,065 in 2024, which keeps pressure on prices and tightens access.