Spain Ratifies Housing Decree Amid Snap Election Call

Spain's interim lower house of parliament ratified a housing decree on Thursday to curb real estate speculation and limit evictions. The legislation follows a general strike and widespread protests triggered by soaring housing costs and a high-profile eviction death in Madrid. The approved measures establish rent caps for properties exceeding government index prices, impose a 10% tax on tourist rentals, and prevent real estate companies from purchasing properties for less than 70% of their value. Eviction protections for tenants in precarious financial positions are extended until 2030.

Lawmakers rejected a separate decree that would have made residential leases automatically renewable. These measures had been previously rejected in October, leading Pedro Sánchez to call a snap election for November 29.

The conservative Popular Party, which currently leads in polls, blocked the second decree and pledged to repeal the ratified housing measures if it takes power. The party proposes an alternative strategy to build one million new homes and reduce taxes on real estate development.