The slow agony of housing rental in Spain: What went wrong?
Spain promoted renting as an alternative to buying for years, but the lack of supply and rising prices have turned plan B into a problem.
The slow agony of Spain's rental housing market has left a portion of the population wondering what went wrong. Despite governments and experts championing the benefits of renting over buying for years, the current state of the rental market is both dramatic and paradoxical. The preamble to the 2009 Rental Housing Promotion and Efficiency Act of Spain highlighted the numerous advantages of renting, including increased choice of housing, enhanced mobility, reduced household debt, and greater flexibility in the face of changing family incomes.
At the time, rental housing accounted for only 11% of the residential market, far below the European average of around 40%.
Written by urgent.news from El Pais Economia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
