Thousands March in Madrid to Demand Action on Housing Crisis
On Sunday, October 13, a massive crowd estimated in the tens of thousands marched through the streets of Madrid, advocating for a solution to the escalating housing crisis gripping Spain's capital. Protesters jangled their apartment keys in a show of defiance and held placards denouncing rentiers and real estate speculators. Over the past five years, rental prices in Madrid have surged by nearly 30%, straining the finances of residents. According to property portal Fotocasa, tenants now allocate an average of nearly 60% of their income to pay rent, while the social housing stock constitutes merely 25% of the total housing market.
As anger mounts in the community, the Tenants Union led chants for a necessary 'rent strike' while marching toward Madrid's Atocha train station, the starting point for the demonstration organized by around 40 associations and social and trade union organizations. Among these was the Stop Desahucio (Stop Eviction) association, which unfurled a large banner proclaiming, 'The rentiers are stealing our lives. Governments defend rentiers.'
The demographic composition of the protesters showed a stark reality: many were young individuals voicing their struggles. Faustine, a 31-year-old saleswoman in a luxury jewelry store, shared her frustrations, stating, 'I earn 1800 a month and pay 750 to live in a 20-square-meter attic studio where my fiancé can't even visit. It’s supposedly a bargain.' Nearby, a young architect held a sign expressing discontent: 'I make houses, but I can't afford one.' Shouts from the crowd echoed, 'We're being robbed of our future.' Presently, 66% of young people aged 18 to 34 remain living with their parents due to financial constraints.
In response to the pressure emanating from rising rental costs, Spain's Socialist government, under Pedro Sanchez, introduced a new housing law in May 2023 aimed at controlling rental prices. This legislation allows autonomous regions to impose caps on rental prices in municipalities where the rental market is classified as under stress. However, the law lacks a mandate for regional governments to implement it, leading to its adoption solely by Catalonia, which has yielded mixed results.
Since the law's enforcement in March, rental prices in the 140 Catalan municipalities where it has been applied have seen an average decrease of around 5%. Nonetheless, the number of long-term rental contracts has dropped by 17%, according to the Catalan government. Although the Tenants Union has welcomed the decline in rental prices, they have expressed concerns that the situation is still precarious. Some landlords are fragmenting rental offerings into single-room accommodations or pivoting towards 'temporary housing' arrangements that last less than 12 months and evade price controls.
Such maneuvers enable rentiers to sidestep the new regulations, leaving tenants in a precarious position as they navigate a market that seems stacked against them. The protests reflect a broader call for more comprehensive measures to safeguard tenants' rights and ensure affordable housing in a climate where economic disparities are ever-increasing. As the crisis continues to unfold, the momentum from these demonstrations may play a crucial role in shaping future housing policies in Spain.
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