Spanish Prime Minister Pedro Sánchez announced the measure earlier this week, saying it aims to resolve the problem of housing affordability and high rent costs in the European Union (EU). The overall goal is to provide “more housing, better regulations and more aid,” said Sanchez, who did not provide details on when the measure would take effect.
The proposed plan includes higher taxes on vacation rentals, tax incentives and protections for landlords who provide affordable housing, and changing laws to speed up construction processes and increase land availability for private construction. Joan Carlos Amaro, real estate analyst and economics professor at Esade Business School in Barcelona, has reservations about the effectiveness of this measure.
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According to the Spanish Constitution, “all Spaniards have the right to enjoy decent and adequate housing”. But due to overtourism (88.5 million visitors to Spain in 2024), apartment rents in cities like Barcelona and Madrid have become exorbitant, making access to housing difficult for young people. Likewise, property prices have increased significantly, especially in cities and coastal areas.
Last year, Spain announced the abolition of the “golden visa”, which allows wealthy individuals from countries outside the European Union to obtain residence permits by investing more than half a million euros in real estate.
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