MADRID — Thousands of people rallied in central Madrid on Sunday against spiraling housing costs that have priced many Spaniards out of the housing market despite a recent economic boom, particularly in cities such as the capital and Barcelona. <\/p>\n
Spain\u2019s housing crisis is one of Socialist Prime Minister Pedro S\u00e1nchez\u2019s main political vulnerabilities before elections in 2027.<\/p>\n
The country has a strong tradition of home ownership and scant public housing for rent, while rents have been driven up by increased demand, including due to tourism and population growth linked to immigration, analysts say. <\/p>\n
The protesters chanted slogans and held banners highlighting their right to housing. \u201cWe want neighbors, not tourists,\u201d one banner read.<\/p>\n
Buying a home in Spain has become unaffordable for many, with market pressures and speculation driving up prices, especially in big cities and coastal areas. <\/p>\n
Last month, Spain\u2019<\/a> s government passed a sweeping plan<\/a> worth 7 billion euros ($8.23 billion) to build more public housing over the next four years and provide help for young renters and homebuyers, among the hardest hit by high rental and home costs.<\/p>\n A separate decree that would have extended temporary rent freezes did not pass Parliament, exposing the S\u00e1nchez government in the short term to more housing-related discontent.<\/p>\n