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The percentage of Spanish households that rent has grown since 2007, but with a difference of 17 percentage points across regions

In Spain, homeowning is still preferred over renting. But the financial crisis, tax changes favoring renting and sociodemographic factors have all contributed to the four percentage point increase in home renting since 2007. The percentage of home renting has gone up in all of the Spanish autonomous communities, with increases of over five percentage points in Madrid, Navarra, and the Balearic and Canary Islands. However, there is a 17 percentage point difference between the regions with the highest and lowest levels of home renting, the Canary Islands (27.8%) and Extremadura (10.9%), respectively. This across-the-board increase in home renting has occurred despite property prices falling to 21% lower than before the real-estate bubble burst.