Almost 500,000 people protest for lower rents in Spain

Thousands of people protested on Saturday in several Spanish cities — from Bilbao to Barcelona and Madrid — demanding lower rents and more affordable housing. Escalating housing costs have sparked outrage across the country, with protests against price increases taking place for months.

The last time tenants gathered was in October, days after Prime Minister Pedro Sanchez said he would send 200 million euros in rental subsidies for young people. On Saturday, protesters chanted: “Reduce rent prices, everyone on strike”, while calling on people to stop paying rent and take action against so-called “vulture funds”.

As Euronews reports, some 500,000 people were expected at the protest organised by the Tenants’ Union in more than 40 cities across Spain.

The union estimates that rental contracts for around 300,000 people will expire this year. They were signed during the pandemic, under a five-year moratorium on rental prices, which will end this year.

Average monthly rents have roughly doubled over the past decade to 1,193 euros per month, from 690 euros ten years ago, according to real estate platform Idealista.