As the housing crisis in Spain increases, more and more people are renting properties, with the young sharing apartments.
Spain's largest property website, Idealista.com, has started an advertising campaign urging young Spaniards to rent their own homes, as many of them cannot afford mortgages.
The steamy ad features couples caught having sex in their cars.
Fernando Encinar, co-founder of the Idealista website
, says, “We were brainstorming the moment when people most think ‘I need my own home’ and having sex in a car sprang to mind. Millions of Spaniards have gone through it.”
Among the young in Spain, seven in ten people in their twenties still live at home with their parents. As the youth unemployment rate in Spain surges to 52.1% in May (from 45.4% last year), many young people cannot afford mortgages and either stay with their parents, or rent rooms in shared apartments.
In the past twelve months, adverts for rooms in shared rental apartments have surged more than 120%. According to Idealista's estimates, rentals in Spain will grow to 25% of the total housing market by 2015.
Idealista co-founder, Cesar Oteiza, says that “Home prices are down so much and there’s more on sale, yet to young people buying is more out of reach than ever,” said Idealista co-founder Cesar Oteiza.
new advertising campaign was broadcast on major State and regional television during the months of June and July.