
AI-generated summary
Spain is experiencing an acute housing crisis: a shortage of housing, rising rents and pressure on tenants from investment companies buying up properties to increase profitability.
The Madrid Tenants' Union reported the death of 87-year-old Maricarmen Abascal, who was evicted from her apartment for non-payment of rent, after which mass protests began in the country, leading to the calling of early elections.
The union said in a statement that what happened to Abascal was “a turning point in the history of the country.”
Abascal lived in her apartment for more than 70 years and for a long time paid 500 euros for rent, that is, less than the market price.
But in 2018, her property was acquired by the investment company Urbagestión, which increased the rent to 2,650 euros. This amount turned out to be unaffordable for the pensioner, and the investor suggested that she reduce the monthly payment to €1,650. But Abascal could not pay even that much rent, despite the fact that her pension is €1,350 per month.
The company made three attempts to evict Abascal from her home, but all of them were blocked by the courts. For the fourth time, on September 23, the woman was taken out of the house on a stretcher, after which she was taken to the hospital. Lawyers said she was being treated there for a nervous breakdown and exhaustion.
Abascal's story caused outrage throughout Spain. Tens of thousands of people took to the streets across the country to protest her eviction and demand stronger protections for tenants amid a housing shortage and skyrocketing rents.
Amid the protests, Abascal's lawyer said Urbagestión had agreed to the woman's return home. According to her, under the new agreement the pensioner will have to pay approximately the same amount as she paid before the rent increase.
Housing crisis turned political
The government of Prime Minister Pedro Sánchez also proposed to parliament to adopt two royal decrees-laws in the field of housing, designed to reduce public discontent in connection with the housing crisis.
The decrees, in particular, provided for a ban on evictions until 2030. The government explained its decision by the desire to protect tenants, as well as to limit the activities of investment funds that buy housing - government members call them “vulture funds.”
However, Sanchez's cabinet does not have a majority in parliament, and deputies rejected these decrees. Oppositionists from right-wing parties said that this is an attack on the rights of homeowners, primarily ordinary citizens renting out their apartments.
And on October 5, Spanish Prime Minister Pedro Sanchez announced that the country would hold early elections, which he scheduled for November 29.
According to Bank of Spain estimates, the country lacks about 700 thousand apartments and houses. Last year, housing prices in the country increased by 12.2%. In Barcelona and Madrid, renting a house costs on average about 23-24 euros per square meter.
As such, housing costs are the largest expense for many families, especially those who rent their apartments and houses.
According to the National Institute of Statistics of Spain, in 2024, 28.1% of Spanish renters spent more than 40% of their income on housing costs, compared with the EU average of 19.2%.
AI outlook — possibilities, not facts
After the November 29 election, the government will try to reintroduce tenant protection laws
Likely · Within months

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