Spanish Prime Minister Pedro Sanchez has announced a renewed initiative to construct 15,000 homes per year, this time leveraging the newly introduced 'Spain Grows' fund. During its presentation, he highlighted the potential to mobilize €23 billion for the construction project, which aims to tackle the pressing housing crisis in the country. This announcement follows previous commitments that have seen limited results in addressing the housing needs of Spanish citizens.

The 'Spain Grows' fund is designed to drive private investment into the housing sector, with Sanchez emphasizing that such investment should not lead to speculation but rather contribute to fulfilling a constitutional right. He articulated that the fund would provide a 'red carpet' for private investors, aiming to ensure that the focus remains on creating homes for ordinary citizens who struggle to access affordable housing. This marks a shift in strategy, as the government is now openly inviting private sector participation in a controlled and responsible manner.

This announcement comes on the heels of Sanchez's last year's promise under a different project, the PERTE for industrialization, which also aimed at constructing the same number of homes. The reiteration of these commitments amid past challenges raises questions about the effectiveness of these initiatives and the government's approach in tackling Spain's ongoing housing crisis. Observers will be watching closely to see if the new fund can deliver tangible results compared to previous efforts.