Spanish election: How bad is the housing crisis?

 

Spanish election: How bad is the housing crisis?

According to POLITICO (November 11, 2026) and DW News (November 12, 2026), Spain's housing crisis has reached a breaking point, triggering a nationwide general strike and forcing Prime Minister Pedro Sánchez to call a snap election for November 29, 2026.

Key Figures & Impact

• Severe Supply Deficit. According to Spain's central bank, as reported by Associated Press on November 11, 2026, the country faces a shortage of nearly 750,000 homes, a deficit projected to exceed one million by 2028.
• Prices Outpacing Wages. Data cited by soz6 on November 11, 2026, shows that average home prices rose by 80% between 2015 and 2025, while salaries increased by only 30%. In the second quarter of 2026, housing sale prices jumped over 12% year-on-year, while average rents reached a record €15 per square meter.
• Youth Affordability Squeeze. The average monthly rent of €1,200 is equivalent to 98.7% of an average young person's monthly salary, and the average Spaniard does not leave their parental home until after turning 30.
• Tourism & Investment Pressures. In some historic city centers, tourist accommodations account for up to 45% of the rental market, squeezing out long-term residents alongside corporate and foreign property buyouts.

Protests & The General Strike

• Public Outrage. Demonstrations escalated in September and October 2026 following the forced eviction and subsequent death of 87-year-old Madrid pensioner María del Carmen Abascal after an investment fund bought her building and tripled her rent.
• Nationwide General Strike. On November 11, 2026, Spain's two largest trade unions organized the country's first general strike in 14 years under the motto "Salaries. Housing. Prices". Around four million workers participated, disrupting transport and closing schools, while an estimated 120,000 protesters marched through Madrid that evening.

Political Fallout & Election Outlook

• Legislative Deadlock. Prime Minister Pedro Sánchez dissolved parliament and called the November 29 snap election after conservative opposition parties—including the People's Party (PP) and far-right Vox—rejected two government decrees aimed at banning temporary evictions, capping rents, and regulating short-term rentals.
• Debate Over Solutions. Sánchez has framed the election around protecting tenants against speculation, though critics point out that prices surged during his eight years in office and his pledge to deliver 184,000 public and affordable homes has stalled. Meanwhile, opposition parties argue rent controls shrink rental supply and have sought to link the housing shortage to migration, while industry experts contend that only increased homebuilding will solve the supply deficit.
• Polling Forecasts. According to analyses from ING Think (published October 30, 2026) and CBC News (published October 12, 2026), polls place the People's Party ahead of Sánchez's Socialists and indicate that a right-wing alliance between the People's Party and Vox could secure a majority in the 350-seat Congress (note that voter sentiment may have shifted since these reports were published)