Tens of thousands of Spaniards participated in massive protests across 40 cities on Saturday, expressing their outrage over the ongoing housing crisis characterized by soaring rents and rampant speculation. Estimates indicated a turnout of around 150,000 protesters in Madrid alone, while some organizers claimed that over 100,000 people marched in Barcelona, highlighting the significant social discontent surrounding housing affordability in the country.

The protests, organized by a coalition of tenant rights groups and labor unions, asserted that “Housing should be a right, not a commodity for speculation.” As rallies took place under the banner “Let’s End the Housing Business,” demonstrators called for tangible changes to housing policies, emphasizing the urgent need for Source reforms that would include forced rent reductions and increased social housing availability.

Many young Spaniards report spending over 30 to 40 percent of their salaries on rent, making it nearly impossible to save for future investments such as cars or homes. Mari Sánchez, a 26-year-old lawyer from Madrid, voiced a common sentiment among her peers: “That doesn’t allow me to save. That doesn’t allow me to do anything.” This has fueled a growing belief that the current real estate model is unsustainable and detrimental to the working class, with accusations against a privileged minority hoarding assets.

The situation has worsened dramatically since the last decade, with rental prices nearly doubled. For example, in Barcelona, rents soared by 60 percent in just five years due to heightened demand from tourism and the corresponding rise in investor interest, pushing locals out of the housing market. In response, local governments like Barcelona's have pledged to phase out short-term rental permits by 2028 to better address scarcity in affordable housing.

Spain’s housing crisis is exacerbated by the lack of public housing, which comprises under 2 percent of total available units. In contrast, the OECD average is about 7 percent, signaling that the Spanish government has much room to grow in providing adequate social housing. The mismatch between wage growth and rental increases has become a focal point for voters, with studies indicating that about 40 percent of renters spend a disproportionate amount of their income on housing.

Amidst this turmoil, Spain’s Socialist Prime Minister Pedro Sánchez has initiated rent control measures and proposed taxes on foreign property ownership as potential solutions. However, experts caution that without a concerted effort to increase the range of affordable housing options, and an overhaul of market speculation practices, the protests might continue as a response to the persistent housing crisis.

As tensions rise, Spain’s housing crisis and the subsequent protests underscore the urgent need for policy interventions that prioritize social justice and housing security for all citizens.