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Protesters and citizens in Spain blame 'vulture funds' and short-term rentals for soaring housing costs
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Protesters have been camping out in Madrid's Puerta del Sol to demonstrate against Spain's severe housing crisis, pointing the finger at vulture funds, investment firms, and short-term rentals like Airbnb for driving up rent prices. Over the last decade, rental costs have surged by an average of 84% across Spain, significantly outpacing salaries and making housing the country's top concern. While protesters and the Spanish government attribute the crisis to speculation and corporate landlords, economic experts and Bank of Spain data suggest that the primary driver is a fundamental shortage of housing supply relative to rising demand, exacerbated by demographic shifts, stagnant wages, and lagging construction rates.
Wichtige Punkte
- Protesters in Madrid's Puerta del Sol square have been camping to demonstrate against Spain's housing crisis, blaming investment funds and short-term rentals for surging rents.
- The eviction and subsequent death of 87-year-old Maricarmen Abascal sparked nationwide protests and made the housing crisis an urgent political topic.
- Rental costs across Spain have risen by an average of 84% over the past decade, with increases reaching 113% in Málaga and nearly 150% in Marbella.
- A study by the Centre for Sociological Research (CIS) indicates that the public strongly supports measures such as higher taxes on owners of 10 or more properties and limits on tourist accommodation.
- Economic experts and Bank of Spain data indicate that corporate landlords own only about 8% of rental properties, suggesting that speculation is not the main driver.
- Experts argue that the core issue is a structural supply shortage, with estimates showing a housing shortfall of around 750,000 homes that could rise to one million by 2028.
- Rapid demographic changes, including 1.2 million new households between 2021 and 2025 driven largely by migration, have outpaced new home construction.
- Stagnant wages and a 5% drop in real spending power over the last decade have left many workers unable to afford soaring rental prices.