On October 13, thousands marched in Madrid demanding solutions to the housing crisis. Rental prices have surged by nearly 30% in five years, with tenants spending over half their income on rent. Social housing stock is only 2.5% of the total.
Anger is palpable as protestors demand change, with chants for a rent strike and calls for government action. Spain’s youth bear the brunt, struggling to afford housing and facing a bleak future. Despite efforts to regulate prices, challenges persist with some regions slow to implement reforms.
Regulating fraudulent use
Pedro Sanchez’s government passed a new housing law to control prices, but success has been limited. While some regions have seen a decrease in rental costs, loopholes allow landlords to evade regulations, leaving many in Spain’s housing market vulnerable.