In brief
In Madrid’s iconic Plaza de Sol, a 21‑year‑old graduate and a 19‑year‑old film student have erected a tent city to spotlight Spain’s spiralling housing crisis. They blame “vulture funds” and short‑term rentals for pushing rents up and leaving homes vacant, pointing to the tragic eviction of 87‑year‑old Maricarmen Abascal as evidence. Prime Minister Pedro Sánchez has introduced measures targeting landlords and Airbnb, but Parliament rejected the bill, prompting an early election. Data shows rents have risen 84 % in a decade and a construction shortfall of 750,000 homes, setting the stage for a fierce political showdown. Experts argue that while speculation may play a role, the core problem is a severe supply shortage.
Two young protesters, a 21‑year‑old graduate and a 19‑year‑old film student, have set up a tent city in Madrid’s Puerta del Sol, accusing investment funds of driving rents sky‑high and leaving homes empty.
They cite the eviction and subsequent death of 87‑year‑old Maricarmen Abascal as proof that speculation hurts ordinary Spaniards, a narrative echoed by townsfolk and even officials.
Prime Minister Pedro S Sánchez has announced new measures to curb short‑term rentals and raise taxes on landlords holding multiple properties, but Parliament rejected the bill, prompting an early election.
Data shows an 84% rise in rents over ten years, a shortage of 750,000 homes and a construction deficit that has failed to keep pace with an emerging housing boom.
While some experts argue that “vulture funds” are a small part of the market, the public pressure is clear: they need immediate action before the crisis deepens.
