The housing crisis has become a pressing issue for European countries, with the European Parliament highlighting a shortfall of 10 million homes, which has significantly impacted the ability of many citizens to find affordable housing. Over the past 15 years, property prices in Spain have surged by 61%, while rental costs have risen by 29%, exacerbating the housing crisis. According to the Bank of Spain, Spain's housing shortage represents at least 700,000 units, contributing to the overall EU deficit.

The final report from the European Parliament on the housing crisis, presented recently, emphasizes the severe shortage of housing across the EU, which has further deteriorated due to a 5.7% drop in residential construction projected for 2024. In Spain, the construction sector is currently facing challenges that hinder its ability to meet the demand for affordable housing solutions. Despite promises from Prime Minister Pedro Sánchez regarding social housing initiatives, skepticism remains among banks and developers who are awaiting concrete measures to facilitate the construction of 15,000 social rental homes.

This situation raises critical questions about the future of housing policy in Spain and the EU as a whole. The growing frustration among citizens cannot be overlooked, especially with the soaring costs of homes and rising rents. The lack of sufficient action to address this crisis risks leaving many without access to adequate housing, leading to broader implications for social stability and economic equity across Europe.