Spain’s rental market forces tenants into hallways and shared beds as rents soar

Spain’s housing market has entered a new phase of crisis, illustrated by the recent eviction of 87-year-old Maricarmen in Madrid after a vulture fund raised her rent fivefold. Protesters have adopted the slogan “Todos somos Maricarmen” as thousands face similar displacements. In the Balearic Islands, renters accept hallway spaces for €500-€600, while in Barcelona and other cities people live in micro-units as small as two square metres for €200-€300, sometimes sharing a single bed.

A 2023 law that imposed rent caps unintentionally reduced long-term rental stock, encouraging landlords to switch to the more profitable Airbnb market. Temporary-rental contracts lasting up to 11 months are now common, allowing owners to evade stronger tenant rights. Legislative efforts to curb these practices have been blocked by right-wing parties, and the governing Socialists have postponed a new tenant-protection bill. Over a million properties are now owned by large investment funds such as Blackstone, deepening the affordability squeeze for Spain’s nine million renters.