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Thu, 08 Oct 2026

Thu, 08 Oct 2026 Protesters blame 'vulture funds' for Spain's housing crisis

Hundreds have pitched their tents in central Madrid, while the Spanish prime minister has called a snap election.

* A housing crisis has been sparked by a shortage of homes, with an estimated 750,000 shortfall in Spain.
* The crisis has led to soaring rental costs, with average increases of 84% over the last 10 years.
* Protesters claim that "vulture funds" and investment firms are buying up properties and hiking up rents to get rid of existing tenants.
* However, an expert says that available data suggests that these companies do not own a large proportion of rental properties in Spain.
* Demographic changes have played a major part in the imbalance between supply and demand, with 1.2 million new households created in recent years due to migration.
* The construction industry has struggled to keep pace with this growth, partly due to a lack of priority given to house building.
* Short-term tourist accommodation like Airbnb is also contributing to the problem, pushing up prices in specific urban areas.
* Lagging salaries and inflation have made it difficult for people to afford housing, with the average monthly salary in Madrid being just €1,550.
* The case of Maricarmen, a Spanish pensioner who was evicted from her home, has sparked widespread protests and debate about how to solve the crisis.