This weekend, thousands of people they took to the streets of several Spanish cities in a wave of demonstrations to demand Immediate solutions to the rent crisis which drives thousands of citizens out of the housing market. With banners and slogans that reflect social fatigue, the demonstrators asked the government for urgent measures to put an end to the unstoppable increase in rents, the lack of supply and the speculation which, year after year, makes it more expensive access to a fundamental right like housing.
The trigger for these protests is the expected 8% increase in rent prices in 2024, which is added to the 10% already increased in 2023. “We cannot continue like this. Wages are not increasing at the same rate and , each time, more people are priced out of the housing market,” said one protester. The reason for this imbalance is obvious: Rental housing supply is at its lowest level in decades. “The rental supply is going through its worst moment of the 21st century,” says María Matos, director of Fotocasa.
This mismatch between supply and demand This is what is behind the price rise. Added to this is the concentration of ownership: the number of multi-owners has increased by 20% over the past decade, fostering speculative practices that only worsen the problem. Jaime Palomera, a researcher specializing in housing, points out that “a large part of housing is destined for very speculative markets, which further limits access to affordable rentals”.
For the most vulnerable, this crisis is even more serious. It is estimated that Spain will need more than a million social rental homes by 2030 if it wants to be on par with the European average, a goal that seems more and more distant. “There is very little new construction in the cities,” warns Vicente Martínez, real estate agent. Since the 2008 crisis, the creation of new housing has far exceeded the construction of housing, exacerbating the current shortage.
Builders see high construction costs as the main barrier to increasing housing supply. In these moments, There would be a shortage of more than 200,000 housing units to meet current demanda figure that will continue to increase if structural measures are not adopted.
Yesterday’s protests reflect not only discontent with the present, but also the concern for the future which, if we do not change course, will continue to make housing an inaccessible luxury for many. The demonstrators’ demands are clear: more investment in social housing, regulation of the rental market and an end to speculation. The message is strong: housing cannot continue to be a market good, but rather a guaranteed right.
