Protesters returned to the streets in rage over high housing costs, but no relief was visible.
Hundreds of thousands of people enjoy Europe’s fastest economic growth, but march in cities across Spain to protest the lack of rent and affordable homes in the country, suffering from a housing shortage exacerbated by the tourism boom.
In Spain, the European housing crisis has been hit particularly hard, with a strong tradition of lack of homeownership and public housing for rent.
Spain’s central left government is struggling to find a balance between attracting tourists and maintaining affordable rents for the average citizen, as it is surged in major cities and coastal destinations.
“No matter who governs, we have to defend the rights of housing,” activists rattled Madrid’s keychain on Saturday, with tens of thousands of protesters marching through the capital centre, according to a local tenant union.
Data from the real estate website Idealista showed that it was far above salary growth, with average Spanish rents doubled and home prices swelled by 44%.
Meanwhile, rental supplies have been in half since the 2020 pandemic.
Man crossing the street amid demonstrations against high housing costs in Madrid [Paul White/AP]
Influx of tourists
Spain does not have public housing investments in cushions that are causing renters to suffer from the market where other European countries are priced them.
Spain is close to the bottom edge of economic cooperation and development countries’ organizations, with public housing renting less than 2% of all available homes.
The average OECD is 7%. In France, it costs 14%, in the UK, 16%, and in the Netherlands, 34%.
“They’re kicking us all to create a tourist flat,” Margarita Ayzpur, a 65-year-old resident of the popular Lavapees district, told Reuters.
Nearly 100 families living in her block were told by the building owner that the rental agreement would not be renewed, she said.
Homeowners associations and experts say current regulations have blocked long-term rentals, and landlords have found that renting to tourists and foreigners for days or months is more profitable and safer.
Spain has attracted a record 94 million tourists in 2024, making it the second most visited country in the world.
Official data shows that only about 120,000 new homes are built in Spain each year. It was at a sixth level before the 2008 financial crisis, exacerbating an already sharp supply shortage.
