Source: Foundation for Economic Education
by Mark Nayler
“Tourism might have exacerbated Spain’s housing problem, but it’s not the root cause. The gap between sluggish supply and explosive demand has resulted in a deficit of around 700,000 homes. As a result, rental rates have doubled and house prices risen by 44% since 2020. In its last Financial Stability Report, released in November, the Bank of Spain identified historically low construction levels as a key factor in the deficit. … Still, it’s easier to blame tourists.” (01/22/26)