The last decade in the European Union has been a period of rising rental prices. During this time, housing prices have jumped by more than 50% on average, while rental costs have increased by 26%. Spain, in particular, is one of the most affected countries - here, rental expenses have increased by a staggering 80%. This information was published by the 'Glavkom' portal, citing Euronews.
A number of factors triggered the crisis
The housing rental market crisis arose due to a combination of various factors: a lack of housing, high construction costs, the popularity of short-term rentals, and speculation by foreign investors.
«Barcelona is always crowded with tourists. Renting housing here is simply incredible,» shares her impressions Rosario Castellet, who lives in this city and is a member of a tenants' union called Sindicat de Llogateres.
After her home was bought by the Vandor Group, owned by the British fund Patron Capital, Rosario found herself facing eviction.
«I have lived in this apartment for 26 years,» Rosario says. «Here I raised my children and also started my clothing business called Pinku No Kuma,» she adds, pointing to dresses made in collaboration with her daughter.
«But now Vandor wants to take my home away from me - and everything I have achieved during this time,» Rosario adds. She is currently the last former tenant resident in the building, with other apartments converted into colivings that are rented to foreigners for short stays.
Struggle for housing
«These predatory funds are actively buying up entire buildings for speculation. Meanwhile, we, ordinary citizens, are simply being pushed out onto the streets!» Castellet responds.
Over the last decade, housing rental prices in the European Union have significantly increased, especially in Spain. Among the main reasons for the crisis are the lack of housing, high construction costs, and speculation by foreign investors.