Associations representing Spanish renters organized a nationwide protest against real estate speculation. As the property market thrives, tenants find themselves struggling more than ever to secure affordable housing.
On Saturday, tens of thousands of people marched through the streets of 40 Spanish cities to demonstrate against real estate speculation.
"Access to housing ought to be a fundamental right rather than an object for speculative profit," stated the protest organizers.
Nevertheless, investment funds and property owners keep amassing earnings as countless individuals face eviction, displacement from their communities, or endure subhuman living situations.
According to media reports, approximately 150,000 demonstrators gathered in Madrid, whereas the event organizers stated that an additional 100,000 participants joined in Barcelona.
The organizers — a group comprising tenant advocacy groups and various leftist organizations — charge the government with transforming housing into nothing more than a profit-driven enterprise.
The demonstration, held under the slogan “Ending the Housing Industry,” centered around Spain’s rental crisis. The organizers called for mandatory decreases in rents, property confiscations, and an increase in public housing initiatives.
Lavish rents," they argue, "stand as the primary factor behind the destitution of the working class and hinder their access to housing." They blame a select few landlords for "constricting significant portions of society.
Over the past ten years, Spain has seen a significant rise in real estate speculation coupled with a shortage of finished affordable homes, leading to rent prices doubling during this period.
The issue has been exacerbated by foreign property investment and an increase in tourism. As tourism surges throughout Spain, residents in cities like Barcelona, Madrid, Malaga, Mallorca, and Valencia find themselves pushed out of the local property market due to high demand from tourists and speculative investors targeting this sector.
For example, rents in Barcelona have surged by 60% over the last five years. The municipality plans to gradually eliminate all short-term apartment rental permits by 2028.
Spanish people dedicating more than 40% of their income solely for rent purposes.
The Spanish government believes that constructing a minimum of 600,000 additional residences is necessary to address what they refer to as a "social crisis." During 2024, approximately 100,000 new dwellings were finished.
However, organizers such as Gonzalo Alvarez from the Tenants' Syndicate (Sindicato de Inquilinas e Inquilinos) stated, “There is insufficient housing due to properties being seized—on one side, there are holiday apartments, and on the other, numerous vacant units owned by investment firms and financial institutions. Therefore, constructing additional homes isn’t required; it’s unnecessary.”
Cases where investors let apartment buildings deteriorate to expedite tenant eviction have grown commonplace, leading to numerous occupants being compelled to reside in deplorable circumstances as property owners neglect maintenance with the intent of raising future rents.
Recently, Spain's Central Bank disclosed that approximately 40% of tenants dedicate about 40% of their overall earnings towards rent. Even though wages have increased by roughly 20% over the last decade, they haven’t kept up with rental prices which have doubled. As a result, housing has become the foremost issue preoccupying Spanish voters.
Critics of the protest movement view actions such as threatening rent strikes as aggressive and inflammatory steps, labeling the activists as extreme left-wing individuals who oppose private property but claim to advocate for fair access to housing.
Spain's socialist prime minister, Pedro Sánchez, has implemented rental price limits along with suggesting prohibitions and/or alleged 100% surtaxes on international real estate acquisition as an approach to address the issue.
During a recent ribbon-cutting event for social housing projects in Sevilla, Sanchez stated to Spaniards, “They expect us to take action; they desire the housing market to function based on rationality and social equity. They wish to ensure that predatory investment firms and speculators do not have free rein.”
On Saturday, residents intensified their demands for reducing rent prices, overhauling 3.8 million unoccupied houses, prohibiting eviction firms, and implementing safeguards against evictions for individuals with nowhere else to live.
Edited by: Jenipher Camino Gonzalez and Zac Crellin
Author: Jon Shelton (along with AP, dpa contributions)