Audacity against the housing crisis
The Catalan government takes bold steps to tackle the housing crisis by regulating purchases to curb speculation.
The Catalan government, led by Salvador Illa, is making a significant intervention to address the housing crisis that affects many Spaniards. For the first time, the government will restrict property acquisitions, aiming to limit the influence of speculative practices in the housing market. These new measures, which have been developed in collaboration with the Comuns party, will allow individuals and companies to purchase homes primarily for their own residence or as second homes, while imposing stringent limitations on the scale of acquisitions to mitigate speculation.
Under the new regulations, large corporations will be permitted to buy entire buildings, while smaller investors will be limited to purchasing no more than two or three homes, all of which must be used for regular rental purposes at controlled price ceilings. This initiative aims to strike a balance between enabling property investment and ensuring affordable housing accessibility. The reaction to the government's plan has been polarized; the Catalan business federation has labeled it “filocommunist,” while the Tenants' Union has argued that the measures do not go far enough to adequately protect renters amidst rising housing costs.
The context of these measures is urgent, as the price of housing in Catalonia has more than doubled since 2014, leading to severe consequences for many residents. With the cost of living skyrocketing, the government's proactive approach represents a significant political and social response to the pressing issue of housing accessibility, with potential implications for other regions in Spain seeking to follow suit in fighting housing speculation.