In cities across Spain, tens of thousands took to the streets on Saturday to protest spiraling housing costs that show no signs of abating. In Madrid, government estimates put the number of participants at about 15,000, while organizers claimed the turnout was ten times higher. Barcelona’s city hall reported 12,000 attendees, whereas the event’s organizers argued over 100,000 were present.
The protests were orchestrated by housing advocates and supported by Spain’s leading labor unions, highlighting the issue as a pressing concern for the country’s left-leaning administration and local governments. Spain is facing an acute housing crisis, exacerbated by its deep-rooted culture of homeownership and a shortage of public rental housing. Rising demand has inflated rents, and purchasing a home has become unattainable for many due to market forces and speculative activities, particularly in major cities and coastal regions.
Younger generations lament the necessity of remaining with parents or spending significant sums merely to share an apartment, with little hope of saving enough to one day buy a home. High housing costs are burdening even those with traditionally well-paying occupations. Mari Sánchez, a 26-year-old lawyer in Madrid, commented, “I’m living with four people and still, I allocate 30 or 40% of my salary to rent. It doesn’t allow me to save or even buy a car. This is my reality, and it’s the same for many young people.”
Housing Minister Isabel Rodríguez expressed support via social media, emphasizing that homes should be spaces for living, not speculation. The average rent in Spain nearly doubled over the past decade, with costs surging from 7.2 euros per square meter in 2014 to 13 euros in the previous year, according to real estate data.
Despite an economic upswing, wages have not kept pace, particularly affecting younger workers who often face high unemployment. The scarcity of public housing further exacerbates the issue. Spain lags in offering public rental housing, which constitutes less than 2% of the housing market, compared to the OECD average of 7%, with some European countries investing significantly more in public housing.
Concerned renters point fingers at global hedge funds accused of purchasing properties only to rent them to tourists, driving up prices. The debate has led Barcelona’s government to eradicate its 10,000 short-term rental permits, many of which are advertised on platforms like Airbnb, by 2028.
Protesters in Madrid shouted slogans against Airbnb, advancing signs decrying short-term rentals, while in Barcelona, a demonstrator carried a placard stating, “I am not leaving, vampire,” directed at potential real estate speculators pressuring homeowners.
The Spanish central government has attempted to tackle the housing cost issue through a rent cap based on a pricing index offered to regional authorities. This initiative reportedly brought slight rent reductions, predominantly in Barcelona, where the measure has been applied. However, these governmental efforts fall short of quelling public dissatisfaction, with experts predicting ongoing social unrest over the housing crisis.
Ignasi Martí, a professor at Esade business school, remarked that due to the housing market’s bleak outlook, protests might persist. “We saw a similar wave of protests during the financial crisis (2008-2012) which continued until the economy started to recover and the social tensions eased concern,” Martí noted in a communication.