Thousands of Spaniards marched through 40 cities to demand action against housing speculation. Protesters argue housing is a right, not a commodity for profiteering, as investment funds and landlords continue to reap profits while people are evicted, displaced, or forced into poor living conditions.

In Madrid, approximately 150,000 demonstrators joined the rally, while another 100,000 showed up in Barcelona, according to protest organizers. The organizers, a coalition of tenants’ rights and left-leaning groups, accuse the government of treating housing as a business model and ask for forced rent cuts, the seizure of properties, and more social housing.

The focus of the protest, labeled “Let’s End the Housing Business,” was Spain’s housing crisis. The group condemns exorbitant rents, which they see as a driver of working-class poverty and a barrier to accessing housing. They also accuse a small group of property owners of harming a large part of society.

Spain’s history of real estate speculation has led to a significant increase in rents, which have doubled over the past decade due to affordable housing shortages. Foreign ownership and tourism have intensified the issue, with places like Barcelona and Madrid witnessing rapid rent hikes, resulting in locals being priced out of their cities.

The Spanish government estimates the need to build at least 600,000 new apartments, with 100,000 new homes completed in 2024. However, protest organizers contend that existing empty properties should be repurposed rather than building new ones. The central bank recently reported that 40% of renters spend about 40% of their income on housing, outpacing wage growth and making housing Spain’s top electoral issue.

Some critics view protests and measures like the suggestion of rent strikes as extreme and oppositional to private property rights. Prime Minister Pedro Sanchez has attempted to address the issue by implementing rent caps and proposing 100% supertaxes on foreign property ownership. He emphasizes the need for the housing market to operate according to social justice principles.

The demonstrations addressed the need for significant reforms, including reducing rents, revitalizing vacant homes, and creating stronger protections against evictions.

Source: https://www.dw.com/en/spain-tens-of-thousands-protest-nationwide-housing-crisis/a-72147708?maca=en-rss-en-all-1573-rdf