Spain Extends Eviction Protection, Limits Investment Fund Home Buys
The agreement between the governing Socialist Party (PSOE) and its coalition partner Sumar would prevent so-called “vulture funds” from acquiring homes until 2028, while also introducing rules for seasonal and room rentals, according to reports.
Under the measures, rental agreements scheduled to expire before Dec. 31, 2028, would receive a two-year extension.
The coalition partners also reached an agreement on automatically renewing rental contracts, with the provision set to form part of the second decree.
The government has called an extraordinary parliamentary session for Friday as it seeks to obtain immediate approval for both measures, according to reports.
Tuesday’s Cabinet meeting started roughly an hour behind schedule following intense negotiations. Sumar had pressed for rules governing room rentals and automatic extensions of rental agreements, demands that have also been supported by Madrid’s tenants’ union.
The agreement comes as demonstrations continue over Spain’s housing difficulties, including protests following the eviction of 87-year-old Maricarmen Abascal from the Madrid residence where she had lived for 71 years.
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