Spain Approves $8 Billion Housing Plan as Mallorca Rents More Than Double in 10 Years
Updated
Updated · CGTN · Jul 12
Spain Approves $8 Billion Housing Plan as Mallorca Rents More Than Double in 10 Years
1 articles · Updated · CGTN · Jul 12
Summary
$8 billion in measures approved in April will triple Spain's public-housing investment over four years, funding new social homes, renovations and subsidies for young and elderly residents.
Mallorca shows the pressure driving the plan: rents have more than doubled in a decade, a shared room can cost nearly $1,500 a month, and full-time workers are living in caravan camps.
Spain's social rental stock is just 1.5% to 2.5% of housing—far below the EU average of roughly 9.3% to 10.5%—and the new homes cannot later be sold into the private market.
Relief may come slowly because projects must clear multiple layers of government, while critics say the plan still lacks hard limits on tourist rentals that residents blame for squeezing supply.
With elections a year away, the package is a significant policy shift but has yet to restore much hope among people already pushed into precarious housing.
Spain is investing billions in housing, but is it ignoring the very tourist rentals that fuel the crisis?
With locals priced out and youth fleeing, is Mallorca destined to become a hollowed-out playground for the rich?
Spain’s 2026-2030 Housing Plan: Tackling a Crisis Where Rents Consume Over 50% of Incomes
Overview
Spain's State Housing Plan for 2026-2030 aims to tackle the country's housing crisis by focusing on accessibility, affordability, and sustainability. Central to the plan is the CASA 47 initiative, which seeks to boost public housing stock and ensure rents remain below 30% of a family's income. CASA 47 also offers long-term rental contracts of up to 75 years, providing stability for middle and working-class families. By targeting support to those most in need and integrating modern, sustainable urban concepts, the plan strives to make housing more secure and accessible across Spain.