Mass protests against housing speculation are set to take place in 40 cities across Spain this Saturday, spearheaded by tenant associations and left-leaning groups advocating for housing as a right rather than a commodity. Organizers are calling for urgent action against what they describe as profiteering by investment funds and landlords, which has led to widespread evictions, displacement, and unsafe living conditions for thousands of people.
Accusing the Spanish government of turning housing into a business model, the protestors, under the banner "Let’s End the Housing Business," demand forced rent reductions, the expropriation of properties, and the construction of more affordable housing. They argue that exorbitant rental prices are the primary driver of poverty among the working class and accuse a small group of property owners of stifling a significant portion of society.
The situation has been exacerbated by Spain’s history of real estate speculation and insufficient affordable housing over the last decade, which has seen rental prices double. Foreign ownership and tourism have further fueled the crisis, with cities like Barcelona witnessing a 60% rental price increase in just five years. In response, Barcelona has moved to phase out short-term rental licenses entirely by 2028.
The Spanish Central Bank reported that nearly 40% of renters spend around 40% of their income on housing, despite wages increasing only 20% over the past decade. This discrepancy has elevated housing concerns to the forefront of Spanish political debates. The Spanish government, under Prime Minister Pedro Sanchez, has introduced measures including rent caps and a so-called 100% supertax on foreign property ownership to address the issue.
The protests on Saturday aims to intensify calls for slashing rents, revamping the nearly 3.8 million vacant homes, banning eviction companies, and creating protections against evictions for those with no alternative housing options.
Edited by: Jenifer Camino Gonzalez
