Protesters blame 'vulture funds' for Spain's housing crisis

What the report says

Hundreds of protesters have set up tents in Madrid’s Puerta del Sol to press Spain’s government over a worsening housing crisis, with many blaming property speculators, investment firms and short-term rentals for rising rents. The BBC reports that the demonstrations have drawn students, retirees and other residents who say they can no longer find affordable homes, especially in major cities such as Madrid and Málaga.

The protests have also been linked to the case of Maricarmen Abascal, an 87-year-old pensioner whose eviction became a symbol of the backlash against landlords and investment funds. According to the BBC, her situation helped turn housing into a national political issue. Spanish Prime Minister Pedro Sánchez has pushed emergency housing measures, but those reforms were rejected by Congress, prompting him to call a snap election next month.

The article notes that activists accuse so-called “vulture funds” of buying homes, pushing up rents and keeping properties empty, while many protesters also target Airbnb-style tourist accommodation. At the same time, housing experts cited by the BBC say the crisis is driven largely by a shortage of supply, not just ownership concentration. Spain’s housing shortfall is estimated at about 750,000 homes, and the gap has widened as demand has outpaced new construction.

The dispute matters because housing costs have become one of Spain’s biggest public concerns, affecting rents, household budgets and political debate ahead of the election.