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Spain plans ban on vulture funds in housing

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Spain's leftwing government, led by Pedro Sánchez, has approved a freeze on evictions and proposed a ban on purchases by "vulture funds" in response to public anger over the eviction of 87-year-old Maricarmen Abascal from her Madrid flat. The move targets speculative buying in the housing market, which has become a top voter concern. However, the measures face uncertain parliamentary support in a Friday vote due to misgivings from some parties.

Housing minister Isabel Rodríguez said the package would "put a stop to purchases by vulture funds in order to halt speculative buying," criticizing the company landlord that drove Abascal from her home. Abascal's landlord, a small Spanish firm called Urbagestión, has rejected the label, but Rodríguez called it a "vulture small business, and very predatory." Shortly after, Abascal accepted an offer to return to her apartment at a reduced rent of €500 per month.

The government also seeks to extend the eviction freeze until 2030, regulate short-term rentals, and adjust taxes on tourist apartments. However, Junts per Catalunya, a key supporting party, expressed concern about the ban affecting small landlords. The conservative opposition, led by Alberto Núñez Feijóo, criticized the reforms as ineffective, citing a housing shortage of 750,000 homes between 2021 and 2025.