BREAKING: Spain's PM calls snap general election for November 29th

Spanish Prime Minister Pedro Sanchez announced on Monday plans to hold early elections on November 29, following his minority government's failure to pass housing relief measures in parliament. This development comes after a series of political setbacks for the Socialist premier, who has been in power since 2018. He stated in a televised address that securing broader progressive support in parliament is his goal.

The rejection of the proposed housing measures by opposition parties sparked outrage among tens of thousands of protesters who took to the streets in Madrid and other cities on Saturday, demanding affordable housing. The defeat highlights the challenges faced by Sanchez's coalition government in passing legislation due to their minority status.

Spain has been operating under its 2023 budget for several years, and the protests are part of a crisis that has been ongoing for over a week. The eviction of 87-year-old Maricarmen Abascal from her Madrid apartment, which she had lived in for more than seven decades, triggered the protests. The pensioner was evicted after the new owners of her apartment sought to raise her rent by 275 per cent.

Recent opinion polls have shown the main opposition conservative Popular Party (PP) leading the Socialists. Housing has been a significant concern for Spaniards for years, with supply falling short of demand, leading to rising rents and house prices. Average rents in Spain have nearly doubled over the past decade, while home prices have increased by about 90 per cent, according to the real estate website Idealista.