Pierina Nicuray, a 21-year-old university graduate, has spent a week camped out in Madrid's Puerta del Sol square to protest Spain's housing crisis. She attributes the issue to a lack of homes and the actions of landlords and platforms like Airbnb. Jorge Moreno, a 19-year-old film-dubbing student, agrees, stating that many homes are empty because they have been purchased by investment funds that increase rents to displace tenants. He expressed concern about the long-term implications for his ability to afford housing.
These sentiments are echoed by many protesters, ordinary Spaniards, and even the Spanish government. Prime Minister Pedro Sánchez recently introduced emergency measures aimed at addressing the housing crisis, stating he is legislating against those who treat housing as a speculative asset. However, these reforms were rejected by Congress, leading Sánchez to call for a snap election next month.
The protest movement was partly sparked by the case of 87-year-old Maricarmen Abascal, who was evicted after her rent was sharply increased by an investment firm. Although public outcry led to her being invited back, she died in the hospital shortly thereafter.
Carmen Pérez, a retired widow from Ecuador, has lived in Spain for 17 years. She noted that rising rental costs have forced her to move in with family as she searches for affordable housing. According to property outlet Idealista, rental costs in Spain have risen by an average of 84% over the past decade, with increases of 113% in Málaga and nearly 150% in Marbella.
A study by the Centre for Sociological Research (CIS) indicated that many Spaniards support measures against powerful entities in the housing market, with 72% favoring higher taxes for those owning multiple properties and 76% wanting limits on short-term tourist accommodations.
However, Jorge Galindo, director at the Esade center for economic policy, stated that data shows only 8% of rental properties are owned by companies, suggesting that the rise in rental prices is primarily due to a supply shortage rather than the actions of investment funds. The Bank of Spain estimates a housing shortfall of around 750,000 homes, which could rise to one million by 2028.
While there are 3.8 million empty properties in Spain, many are in rural areas or awaiting renovation, and demographic changes have led to an increase in demand for housing. Between 2021 and 2025, around 1.2 million new households are expected to form, but fewer than 500,000 new homes have been built due to various economic and political factors.
Galindo noted that short-term rentals like Airbnb have localized effects on urban housing prices, and the crisis is compounded by stagnant wages. A study by El País found that the average Spaniard's real spending power has decreased by 5% over the last decade. Francisco Pardo, an 81-year-old retired taxi driver, expressed concern that many workers are spending a significant portion of their income on rent, complicating their ability to afford basic necessities.
The case of Maricarmen Abascal has intensified discussions about the housing crisis across Spain, raising questions about potential solutions.