Thousands march across Spain demanding affordable housing amid soaring rents and dwindling supply.
Thousands of residents have taken to the streets across Spain to protest the ongoing housing crisis, demanding more affordable housing solutions.
Demonstrators argue they are increasingly priced out of the market due to factors such as tourism, speculative investments, and a growing rentier economy.
Over the past decade, average rents in Spain have doubled, and house prices have surged by 44%. At the same time, the availability of rental homes has halved since the start of the pandemic in 2020.
Spain faces a challenging balance between promoting tourism, a critical economic driver, and addressing local concerns about rising rents and gentrification. A growing number of property owners prefer short-term rentals to tourists, exacerbating housing affordability issues for residents.
The Bank of Spain reports that nearly 40% of Spanish families who rent their homes now spend close to half of their income on housing costs.
In response to the crisis, the government announced in April last year that it would end the "golden visa" program. This scheme previously granted residency rights to foreigners who made substantial real estate investments in Spain.
Prime Minister Pedro Sanchez stated this move was intended to ensure housing remains a basic right rather than a speculative commodity.
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