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Protesters blame 'vulture funds' for Spain's housing crisis

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Hedgecoe, G. (2026, October 8). Protesters blame 'vulture funds' for Spain's housing crisis. BBC News. https://www.bbc.co.uk/news/articles/c3j4790elkx7o?at_medium=RSS&at_campaign=rss

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BBC News · collected 2026-10-08 · by Guy Hedgecoe

Quick Summary

Protesters in Madrid's Puerta del Sol square blame "vulture funds" and speculative practices for Spain's housing crisis. University graduate Pierina Nicuray and film-dubbing student Jorge Moreno, among others, point to rising rents and empty homes owned by investment firms as key issues. Prime Minister Pedro Sánchez proposed reforms targeting these practices but faced rejection in Congress, leading him to call a snap election. The case of Maricarmen Abascal, evicted from her home due to rent hikes by an investment firm, exemplifies the protesters' concerns. Over the last decade, Spain has seen rental costs rise by an average of 84%, with some cities experiencing increases as high as 150%.
Written by AI on 2026-10-08, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

Story summary

In Madrid, Pierina Nicuray and Jorge Moreno, along with hundreds of others, have been protesting in Puerta del Sol square against Spain's housing crisis. They blame "vulture funds" for buying homes and hiking rents to evict tenants, leaving many Spaniards unable to afford decent housing. A key example cited is the eviction of an 87-year-old woman named Maricarmen Abascal, who died after being forced out of her home by a profit-driven investment firm that raised her rent beyond her means. The protest highlights concerns over rising rents and the impact of short-term rental platforms like Airbnb on the housing market, with protesters demanding reforms to address these issues.

Written for “Spain Housing Crisis Protests” on 2026-11-05, grounded in this article and the 0 other(s) covering the same event.

Story

📰 Spain Housing Crisis Protests
Politics · 1 article(s) covering the same event.

Compared with similar articles

This article reads unscored and hedges 8% of its claims. Each row says how that neighbour differs.
South China Morning Post
⚖️ Leans left Hedges 1 of 6 claims Outlet record 62/100
“While both articles relate to Spain's housing crisis and protests, Article A focuses on Prime Minister Sanchez calling an early election, while Article B discusses ongoing protests in Madrid blaming 'vulture funds' for the crisis.”
Euronews
⚖️ Leans left Hedges 0 of 8 claims Outlet record 60/100
“The articles describe protests in different cities (Barcelona and Madrid) on separate dates with distinct focuses.”
Daily Mail
⚖️ Leans left Hedges 2 of 28 claims Outlet record 69/100
“The articles describe different protests at distinct times and places, one in Barcelona with violence against police after Sanchez's announcement of a snap election, and another in Madrid focused on blaming 'vulture funds' for the housing crisis.”
The Sydney Morning Herald
⚖️ Leans left Hedges 0 of 26 claims Outlet record 61/100
“The articles describe protests related to housing but in different cities and times: one violent protest in Barcelona a day after Sanchez called an election, and another ongoing peaceful protest in Madrid.”
The Hindu
⚖️ Leans left Hedges 4 of 31 claims Outlet record 60/100
“Article A describes the political response and snap elections called by Prime Minister Sanchez due to protests, while Article B focuses on the ongoing protest activities in Madrid's Puerta del Sol square.”
Times of India
Hedges 2 of 45 claims Outlet record 59/100
“Article A reports on the death of María del Carmen Abascal after her eviction and subsequent hospitalization, while Article B describes ongoing protests in Madrid against Spain's housing crisis with comments from protesters.”
Al Jazeera
Hedges 0 of 2 claims Outlet record 60/100
“The articles describe different protests: one violent protest in Barcelona with clashes and fires, and another peaceful protest camped out in Madrid's Puerta del Sol square.”
The Straits Times
Hedges 2 of 31 claims Outlet record 66/100
“The first article discusses the eviction attempt of an elderly woman that sparked nationwide protests and changed political debate, while the second article covers ongoing protests in Madrid with different participants and focuses more broadly on housing issues.”
The Independent
⚖️ Leans strongly left Hedges 2 of 42 claims Outlet record 59/100
“While both articles discuss protests related to housing issues in Spain, they describe different aspects of the protest movement and do not focus on the same specific incident involving Maricarmen's eviction and death.”
The Independent
⚖️ Leans strongly left Hedges 2 of 31 claims Outlet record 59/100
“While both articles discuss protests related to Spain's housing crisis, they describe different incidents: Article A focuses on protesters blaming 'vulture funds' and camping in Madrid, while Article B specifically mentions the death of Maricarmen Abascal after receiving an eviction notice.”
How this article was measured signals, leaning charts, publisher record, byline, topics and claims

Signals How these are calculated →

Claims extracted
40
sentences that state something as happening or true
Uncertain
8%
3 of 40 hedged ("reportedly", "may", "according to")
Leaning
withheld
no quote in the article backed the model's score
Publisher signals
66/100
BBC News's corrections and hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Politics
Same framing elsewhere
1
articles that frame the event the way this one does
Analyzed 2026-10-08 · how these are computed

How this is being covered How these are calculated →

Article leaning vs. publisher reliability
Source leaning vs. consistency

Publisher

BBC News · 5145 article(s) · 7 correction(s) detected
Running correction rate · 7 correction(s)

Who wrote this

Guy Hedgecoe
9 article(s) here · 1 carrying a prediction
🔮 Prime Minister Pedro Sánchez has said that authorities will "get to the bottom of every last detail of this tragedy".
🔮 Locals turned out to help the injured, bringing blankets, food and water to a nearby sports hall that was converted into a makeshift hospital for much of the day. "We all started to turn out to help and we organised ourselves as best we could," said Rosa María Domínguez, a local woman, who described the scene as "a horror film".
🔮 But the Spain to which he may return is much different from a decade ago, with Catalan independence now a marginal political issue.
🔮 "There are so many homes standing empty because they have been bought by vulture funds and investment funds which hike up the rent of people living in properties until they get rid of them," says Jorge, who lives with his mother and fears it will be a long time before he can afford a home of his own.
🔮 Although Sánchez had insisted until recently that he would see out the legislature and not call elections until next summer, his government had looked increasingly unlikely to make it that far.
🔮 The government's defeat underlines the fact that Sánchez, a Socialist, does not command a congressional majority and it has heightened speculation that he might call an early general election, which was not due until next summer.
🔮 A representative of tenants' organisation Sindicato de Inquilinas shouted at the police through a megaphone: "Think for 10 seconds about Maricarmen, who could be your own grandmother."
🔮 This would be an idyllic scene were it not for the blackened pine and oak trees all around, the legacy of a devastating recent wildfire.
2026-09-22 · assertive framing · Spain battles climate change on several fronts
🔮 The removal of the border is therefore expected to have major economic benefits, facilitating the flow of people back and forth, and possibly going some way to redress the imbalance between the two territories.
Also by Guy Hedgecoe
Nothing else under this byline is closely related to this article, so these are simply their most recent.
All 9 articles by Guy Hedgecoe →

Topics

Airbnb Madrid Spain Spaniards Spanish

Subjects

Spain GPE · 4× Spanish NORP · 4× Spaniards NORP · 3× Madrid GPE · 2× Airbnb ORG · 1× Jorge PERSON · 1× Jorge Moreno PERSON · 1× Pierina PERSON · 1× Pierina Nicuray PERSON · 1× Socialist ORG · 1×

Narrative

Those reforms were rejected by Congress, prompting Sánchez to call a snap election next month. Nicuray and Moreno can point to the single case that sparked the current Spanish housing protest movement as proof that profit-driven practices are at the heart of the crisis: the 87-year-old Maricarmen Abascal was evicted from her home after the investment firm that had bought it tried to persuade her to leave, then sharply increased her rent, which she was unable to pay. Although the social backlash that followed caused the company to invite Abascal to return to her old home, she never did, dying in hospital on Wednesday.
framing: assertive · carried by 1 article(s) · first seen 2026-10-08
🔮 "There are so many homes standing empty because they have been bought by vulture funds and investment funds which hike up the rent of people living in properties until they get rid of them," says Jorge, who lives with his mother and fears it will be a long time before he can afford a home of his own.
2026-10-08 · BBC News
Protesters blame 'vulture funds' for Spain's housing crisis · assertive framing

Claims (40 extracted, 3 hedged)

- Published Pierina Nicuray, a 21-year-old university graduate, has spent a week camped out in Madrid's Puerta del Sol square. asserted
Nicuray → publish → square
Like many of the hundreds of others who have pitched their tents here to protest at Spain's housing crisis, she has no doubts when it comes to diagnosing the cause. asserted
it → pitch → cause
"It's the same problem as always," she says. asserted
she → say → ?
She adds: "Landlords are taking advantage of the situation to raise rentals, and then there's also Airbnb." Jorge Moreno, a 19-year-old film-dubbing student who has also been living in a tent here in central Madrid for the last few days, agrees. asserted
who → add → days
"There are so many homes standing empty because they have been bought by vulture funds and investment funds which hike up the rent of people living in properties until they get rid of them," says Jorge, who lives with his mother and fears it will be a long time before he can afford a home of his own. asserted
he → be → own
"They've been making a business of housing for a long time," he adds. asserted
he → make → time
"But it's an abusive business which stops Spaniards from being able to live in a decent home." asserted
which → stop → home
His and Pierina's diagnoses are frequently voiced by fellow protesters, ordinary Spaniards and even the Spanish government. asserted
diagnoses → voice → protesters
On presenting a recent package of emergency measures to tackle the housing problem, Socialist Prime Minister Pedro Sánchez said he was legislating "against those who consider housing just another object on the market with which to speculate". asserted
housing → present → which
Those reforms were rejected by Congress, prompting Sánchez to call a snap election next month. Nicuray and Moreno can point to the single case that sparked the current Spanish housing protest movement as proof that profit-driven practices are at the heart of the crisis: the 87-year-old Maricarmen Abascal was evicted from her home after the investment firm that had bought it tried to persuade her to leave, then sharply increased her rent, which she was unable to pay. Although the social backlash that followed caused the company to invite Abascal to return to her old home, she never did, dying in hospital on Wednesday. asserted
she → reject → Wednesday
Many others have their own stories of struggling with a soaring rental market. asserted
others → have → market
Carmen Pérez is a retired widow, originally from Ecuador, who has been living in Spain for 17 years. asserted
who → live → years
When she arrived, housing was relatively cheap and accessible, but - as costs have risen - she has been forced to move in with her daughter and son-in-law as she looks for somewhere affordable to rent. asserted
she → arrive → somewhere
"When a property is listed to rent, there's always a long waiting list," she says. asserted
she → list → ?
All of this has affected my health - I've got depression, I don't have any stability or security." asserted
I → affect → stability
Spain has seen an average rise in rental costs of 84% over the last 10 years, according to property outlet Idealista. uncertain
Spain → see → Idealista
Such numbers have made housing Spaniards' biggest concern. asserted
numbers → make → ?
A recent study by the Centre for Sociological Research (CIS) showed how the broader Spanish population, like the protesters, want to see action taken against those perceived to be powerful movers in the housing market. asserted
action → show → market
Some 72% wanted higher taxes introduced for those with 10 or more properties; 76% wanted limits on short-term tourist accommodation; and 40% supported the expropriation of empty homes. asserted
% → want → homes
However, Jorge Galindo, director at the Esade centre for economic policy, says that available data makes it difficult to know exactly how many Spanish properties are owned by so-called "vulture funds" and being used for speculation. asserted
properties → say → speculation
He points to Bank of Spain figures from 2024 showing that only 8% of properties for rent are owned by companies. asserted
% → point → companies
Galindo says he concludes from the data available that there is not a notable accumulation of property to rent among a small number of owners in Spain. asserted
he → say → Spain
"When it comes to explaining the rise in rentals, that is not the big cause," he says. asserted
he → come → rentals
"What explains it is the shortage of supply compared to demand over recent years." asserted
explains → explain → years
The Bank of Spain appears to agree, and has estimated that the country has a housing shortfall of around 750,000 homes. asserted
country → appear → homes
The institution's deputy governor, Soledad Núñez, warned in September that by 2028 that could rise to one million. uncertain
that → warn → million
There are 3.8 million empty properties in Spain, according to the National Statistics Institute (INE), but a large number of those are in depopulated rural areas and therefore have little relevance to the current crisis, which is most acute in urban hubs. uncertain
which → be → hubs
Other explanations for this high number include properties awaiting renovation, or legal disputes between family members who have inherited them. asserted
who → include → them
Demographic changes play a major part in the imbalance between supply and demand. asserted
changes → play → supply
Between 2021 and 2025, there were about 1.2 million new households in Spain, driven in great part by the arrival of migrants who have played a major role in the country's recent economic growth. asserted
who → be → growth
However, house building has not kept pace, with fewer than half-a-million new homes during that period. asserted
building → keep → period
That was partly because Spain's construction industry had shrunk in the wake of the Eurozone crisis, while the cost of materials rose substantially after Covid, and a lack of political consensus put legal obstacles in the way of building. "It was not a priority for us to build new houses," Galindo says. asserted
Galindo → shrink → houses
"But, once the demographic boom came, we realised how costly it was for us." asserted
it → come → us
He adds that short-term tourist accommodation, like Airbnb, which has been identified by both the Spanish government and many activists as a culprit, is likely to have had a more localised effect, pushing up prices in specific urban areas rather than having an overall impact. asserted
which → add → impact
Meanwhile, the crisis has been aggravated by lagging salaries. asserted
crisis → aggravate → salaries
A study by El País found that, in real terms, the average Spaniard had 5% less spending power than a decade ago, due to taxes, social security and inflation. asserted
Spaniard → find → taxes
"No worker should have to spend 75% or 80% of their salary on rent, because what are they supposed to eat?" says Francisco Pardo, an 81-year-old retired taxi driver, who sympathises with the protesters, during a visit to the tent city in Madrid. asserted
who → have → Madrid
"Many workers don't even earn €2,000 [per month]." asserted
workers → earn → month
The case of Maricarmen has suddenly made the housing crisis an urgent topic of discussion, not just in Madrid's Puerta del Sol but across the country. asserted
crisis → make → country
The question now is whether a consensus can be reached on how to solve it. asserted
consensus → reach → it
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