00:00Buying a home is nearly impossible for many in the European Union.
00:07Over the past decade, house prices have risen by an average of 48% across the bloc.
00:13Spain is one of the most affected countries, with young people moving out at the age of
00:1830, making it the second latest country in the EU.
00:22The high number of tourist rentals and the lack of public housing projects could be behind
00:27rising prices.
00:30The price of housing has risen by 20% in the last year,
00:36and the rent has risen by 15.4%.
00:40Municipalities of the metropolitan area are asking for houses with three bedrooms
00:45for rents of 1,200 euros and up to 1,500 euros.
00:49In the central district, the rent has risen by almost 21%.
00:54Spain's socialist government is trying to tackle this issue through the housing law,
00:59but the main opposition, the People's Party, disagrees.
01:24The housing law applies in Madrid, but it doesn't apply in the high-rise areas.
01:29We've seen that the high-rise areas in Barcelona had a minimal price drop,
01:34but now they're at historic highs.
01:38Both the Popular Party and the Socialist Party have introduced different plans to tackle the issue.
01:46In the long term, public housing construction,
01:50but in the short term, market regulation.
01:52If there are high-rise areas where prices are rising by 14%,
01:56you have to deal with it, because it's not conceivable that this could happen in a fair society.
02:01It's tax cuts, it's my first home, it's the Plan Vive,
02:05it's the Plan Alquila Plus, it's giving legal security to the owners,
02:10even to the entrepreneurs, to the housing promoters.
02:14Housing inaccessibility is a major issue in other EU member states as well.
02:18Well, Estonia and Hungary have seen the highest price surges.
02:22The European Parliament has created a special housing commission to address this growing problem.
02:28From Madrid, Roberto Macedonio, Euronews.
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