However, Jorge Galindo, manager astatine the Esade centre for economical policy, says that disposable information makes it hard to cognize precisely however galore Spanish properties are owned by alleged "vulture funds" and being utilized for speculation.
He points to Bank of Spain figures from 2024 showing that lone 8% of properties for rent are owned by companies.
Galindo says helium concludes from the information disposable that determination is not a notable accumulation of spot to rent among a tiny fig of owners successful Spain.
"When it comes to explaining the emergence successful rentals, that is not the large cause," helium says. "What explains it is the shortage of proviso compared to request implicit caller years."
The Bank of Spain appears to agree, and has estimated that the state has a lodging shortfall of astir 750,000 homes.
The institution's lawman governor, Soledad Núñez, warned successful September that by 2028 that could emergence to 1 million.
There are 3.8 cardinal bare properties successful Spain, according to the National Statistics Institute (INE), but a ample fig of those are successful depopulated agrarian areas and truthful person small relevance to the existent crisis, which is astir acute successful municipality hubs.
Other explanations for this precocious fig see properties awaiting renovation, oregon ineligible disputes betwixt household members who person inherited them.
Demographic changes play a large portion successful the imbalance betwixt proviso and demand.
Between 2021 and 2025, determination were astir 1.2 cardinal caller households successful Spain, driven successful large portion by the accomplishment of migrants who person played a large relation successful the country's caller economical growth.
However, location gathering has not kept pace, with less than half-a-million caller homes during that period.
That was partially due to the fact that Spain's operation manufacture had shrunk successful the aftermath of the Eurozone crisis, portion the outgo of materials roseate substantially aft Covid, and a deficiency of governmental statement enactment ineligible obstacles successful the mode of building.
"It was not a precedence for america to physique caller houses," Galindo says. "But, erstwhile the demographic roar came, we realised however costly it was for us."
He adds that short-term tourer accommodation, similar Airbnb, which has been identified by some the Spanish authorities and galore activists arsenic a culprit, is apt to person had a much localised effect, pushing up prices successful circumstantial municipality areas alternatively than having an wide impact.
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