Amid the housing crisis, buying and selling homes has become hostile territory for many. From 2008 to 2020, Nearly half of housing purchases were made by individuals or businesses who own more than eight properties. This phenomenon has allowed a small group to control the market, increasing sales and rental prices and making access to housing difficult for the majority of the population.
A clear example of this problem is the situation of Juani’s son, who finds himself faced with a devastating scenario: “He can’t afford to buy an apartment, he doesn’t have money to pay a deposit”laments his mother. Behind this daily drama lie the real culprits: those who, with a large number of properties to their credit, monopolize almost half of the sales.
Ramón Balsells, of the Balsells Group, confirms this trend by stating that “they buy an important stock”, which leaves the market practically inaccessiblewith limited supply and exorbitant prices. For his part, Javier Palomera, researcher at IDRA, emphasizes that “the real estate market is being hijacked by funds and multi-owners”a situation made worse by the growing number of homeowners with eight or more homes, which has increased by 20% in recent years.
These buyers are typically those who do not need financing, giving them a competitive advantage. “There are usually many cash buyers, who do not need financing”warns Palomera, highlighting the difficulties faced by young people and middle-class families.
The Urban Research Institute offers solutions to alleviate this crisis, such as transform tourist apartments into rental accommodation and establish regulations that allow only those who will actually reside in the property to acquire it.
