Buy a house or have a child? An apartment in Madrid, Barcelona, or Palma costs at least 30% more than all the expenses of raising a child until the age of 30.

Spain faces intertwined crises in housing and birth rates, with skyrocketing prices making homeownership and parenthood increasingly difficult. In major cities like Madrid, the cost of buying a home exceeds raising a child, with average prices soaring since 2021. The average age for first-time parents has risen, reflecting delayed family formation due to financial constraints. The burden of childcare disproportionately affects women, impacting their employment. Experts warn that the housing crisis is a significant barrier to increasing birth rates, as many delay or forgo having children altogether. The root issue lies in insufficient housing supply, with projections indicating a severe deficit in the coming years.