Pedro Sanchez Passes Emergency Housing Laws to Curb Speculation

Prime Minister Pedro Sanchez introduced emergency housing legislation to address a national housing crisis and the activities of vulture funds. The move follows public outrage over the death of Maricarmen Abascal, an 87-year-old woman who died after being evicted from her home in Madrid.

The new decrees widen the definition of predatory landlords to include those owning five or more properties in shortage areas, prohibiting them from purchasing property for less than 70% of market value. Additionally, the legislation bans owners of more than two properties from evicting tenants until 2030 and imposes rent freezes and automatic contract extensions on all landlords.

Real estate associations and critics argue the measures unfairly penalize small investors. The National Federation of Estate Agents' Associations reported that thousands of properties have already been withdrawn from the long-term rental market in response to the decree. Amid the policy rollout, Socialist party parliamentary spokesperson Montse Minguez resigned following reports that her husband's property company had evicted tenants.