Mieten: Spaniens Kabinett verbietet Fonds bis 2028 den Immobilienkauf

In response to nationwide protests against the housing crisis, Spain's cabinet has enacted two decrees. One of these decrees bans investment funds from purchasing properties until 2028. These funds, often referred to as "geierfonds" or "vulture funds" in Spain, have been criticized for fueling speculation and driving up rents in Spanish cities.

Isabel Rodríguez García, the Minister of Housing and Urban Development, announced that the cabinet will stop purchases by these vulture funds to curb speculative acquisitions. The minority socialist and leftist coalition government in Spain also decided to protect tenants from forced evictions until 2030 and regulate short-term rentals, imposing a 10% value-added tax on them.

Before this, rentals of individual apartments without hotel services were exempt from the tax. Additionally, the government plans to offer tax relief and unamortized government mortgage loans for first-time homebuyers based on income. The second decree ensures automatic renewal of rental agreements, which in Spain are typically limited to five or seven years, unlike Germany.

The legislation now needs approval from the parliament to remain in effect long-term. The government plans to vote on these decisions at the Congress on Friday. Protests against housing shortages and high rents are the biggest concerns of Spaniards. These measures aim to provide temporary relief and address the significant pressure from the population.

The upcoming elections in Spain will bring the public discontent to a head, as evidenced by the recent eviction of 87-year-old Maricarmen Abascal in Madrid, whose rent increased from 500 to 1650 euros per month after the apartment was sold to an investment company. The incident sparked national attention and massive protests in over 23 Spanish cities under the slogan "Ni una Maricarmen más" (no more Maricarmens).

The far-left Podemos party demands the nationalization of 650,000 apartments owned by funds or large investors to convert them into social housing. Migrant influx in recent years has exacerbated the housing shortage, with an estimated 755,000 homes lacking nationwide and the number expected to reach one million by 2028. This shortage drives up rents and property prices, with rents increasing by 87% and property prices by 80% between 2015 and 2025, while wages only rose by 30%.

Frequent evictions are a daily occurrence in Spain, with the Spanish Central Bank estimating that 45 evictions take place each day.