The Spanish Statistics Institute's (INE) Population and Housing Survey confirmed that most households own their homes in Spain at 75.2%. This includes fully paid properties (38.1%), properties with outstanding mortgages (26.4%) and inherited or loaned homes (10.7%). Meanwhile, the percentage of households living in rented accommodation (15.9%) has grown by more than two points on average in a decade.
However, as the INE highlighted in its press release, the size of the town or city also influences whether households rent or buy. As such, in the most populated cities, there is a higher percentage of households who live in rented accommodation and a smaller percentage of homeowners.
According to INE data, among the towns with more than 50,000 inhabitants analysed, in up to nine towns, renting exceeds 30% of the total number of main homes, with Barcelona (33%) and Girona (31%) standing out. However, the city of Ibiza (39.6%), the capital of Lanzarote, Arrecife (39.3%), the town of Granadilla de Abona (38.6%) in Tenerife, and the famous Benidorm (38.1%) are the places where most households live in rented accommodation.
Above the national average, Madrid (23.5%), Palma (22.9%) or the Canary Island capitals Santa Cruz de Tenerife (23%) and Las Palmas de Gran Canaria (20.4%) are also noteworthy. Large capitals such as Valencia (16.9%), Seville (14.2%) or Malaga (13.3%) are closer to the national average.
On the other hand, in 13 towns and cities, only almost 10% of homes are rented, with Jaen (9.8%), Huelva (9.1%), Cordoba (10.3%) or Dos Hermanas in Seville (5.1%), being the lowest of the 151 towns analysed.
Where are there more homeowners still paying their mortgages?
These cities stand out for their low rental figures and for having some of the highest numbers of homeowners but who are still making mortgage payments, such as Jerez de la Frontera (41.6%), the aforementioned Dos Hermanas (40.3%) and Alcalá de Guadaira (39.5%).
All of which are exceeded by 50.4% in Valdemoro. More than half of the main households in this Madrid town have bought a home and are still paying the mortgage. Close behind is Rivas-Vaciamadrid (49.9%), which, as we have already mentioned, leads the relative demand for sales in the Community of Madrid, and Arganda del Rey (42.2%).
Other Madrid towns such as Parla (41.5%) or Pinto (40.1%) are above 40%. Molina de Segura (40.6%), in Murcia, and San Vicente del Raspeig, in Alicante, complete this 'top 10'.
As for autonomous community capital cities, Huelva (35.9%), Caceres (35.3%) and Cordoba (33.7%) are the highest on the list, while Madrid (24%) and Barcelona (20.9%) appear below the national average of properties with outstanding mortgages.
Find out where most mortgages have already been paid off
Another of the insights from the INE's extensive Population and Housing Census is to see where a higher percentage of the population has already fully paid for their homes. Half of the main households in Getxo, Leganes or Salamanca already have paid off their mortgages.
Up to 84 municipalities are above the national average, such as Coslada, Linares and Pozuelo de Alarcón (all three with 49.8%), Orihuela (48.6%) or Barakaldo (48.3%).
Zamora and Bilbao (both with 47.9%), Palencia (47.4%) and San Sebastian (47.4%) are the autonomous community capitals with the highest proportion of homeowners who have completely paid their mortgages.
Madrid (38.9%) is close to the national average, while Barcelona is slightly below (33.1%). In Valencia, Seville and Malaga, full ownership is by far the most common, at over 40%.
