Thousands Gather in Madrid to Protest Soaring Housing Costs

Central News Agency, Madrid, May 24. Thousands of people gathered in the center of the Spanish capital, Madrid, today to protest the rising cost of living. Despite recent economic growth, many people cannot afford high housing prices, a phenomenon most evident in cities like Madrid and Barcelona. According to the Associated Press, Spain's housing crisis has become one of the weaknesses in the administration of Prime Minister Pedro Sanchez of the Socialist Workers' Party (PSOE); the country is scheduled to hold a general election in 2027. Analysts believe that Spain has traditionally been known for its high homeownership rate, but the lack of social housing available for rent, combined with a thriving tourism industry and growing immigrant population, has further driven up rents. Demonstrators chanted slogans and held signs such as "We want neighbors, not tourists," emphasizing their right to housing. In Spain, buying a home has become out of reach for many, with market pressure and speculation driving up prices, especially in large cities and coastal areas. Madrid authorities passed a 7 billion euro (approx. NT$255.5 billion) plan in May to build more public housing over the next four years and provide assistance to young renters and homebuyers, who are the main victims of high rents and prices. Another proposal aimed at extending the temporary rent freeze failed in parliament, fueling dissatisfaction with the government's handling of housing issues. Data from Eurostat shows that housing costs in Spain at the end of 2025 rose by nearly 13% compared to the same period the previous year. The Bank of Spain estimates that compared to the pace of new construction and demand, the country is still short of 700,000 homes.