Although it may not seem like it, as a student or young professional, finding an apartment nearly becomes an impossible mission. 45% of students claim to have had difficulties finding an apartment and 39% ends up paying more than they should. During the last couple of years, the amount of online websites for real estate have multiplied, in order to help its audiences find the most suitable apartments. Nonetheless, the search continues to be complicated and pricey, simply because most of these online portals charge high commissions for their usage.
Every year more than 300,000 students require housing for rent and the majority of the times, these students chose to share their apartments with roommates, as this helps split the rental price. Student residencies are often the most expensive option, and thus not the main choice for the students. Erasmus students and international young professionals find themselves facing two main issues when searching for temporary homes. The first, they are in a new country where they do not have any insight as to what areas are best, and most of the times, they do not speak the language in their new place of residence. As such, communicating with the owners is not as simple as one would hope, and many times, once the lodging company has found you a home, they vanish, and communication becomes scarce. Secondly, students do not account for large incomes, most earning less than 300€ per month, and home owners do not want to lease their homes for temporary stays, as this is not the most beneficial option for them.
The European countries where students and young adults have more difficulties finding homes is in Iceland, Denmark, and Ireland. On the other hand, Spain is one of the countries where it is the easiest to find a home. For this matter, Spain is one of the main countries chosen for Erasmus students, also accounting for its great climate, its culture, and its cheap price of living. On the other hand, the concept of Co-living is becoming more popular in Spain, after gaining a good reputation in cities such as Amsterdam, Berlin, New York and Washington DC. Students and young professionals that chose to share common spaces within their homes are more likely to create professional communities, while also sharing the price of living. In Valencia, students and young professionals pay an average of 300€ per month, per room.
For the reasons stated above, buying a home in Spanish cities such as Valencia, Madrid, and Barcelona, and creating student communities may prove to be a good inversion.