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Protesters blame vulture funds for rising rents as Spain heads to snap vote

The eviction of an 87-year-old sparked national protests, while one Esade economist questions the scale of fund ownership.

Updated Oct 9, 2026 · 06:45 UTC4 reports

The short version

  • Protesters blame vulture funds and property owners for high rents, which they say push tenants out.[Associated Press · BBC News]
  • Abascal, 87, was evicted on September 23 after an investment firm sought a 230% rent rise, sparking national protests.[The Guardian · France 24]
  • Idealista reports average rents rose 84% over ten years, while the Bank of Spain estimates a 750,000-home shortfall.[BBC News]
  • Sánchez called a snap election for 29 November after Congress rejected emergency housing reforms, and an Esade economist questions how much funds drive the problem.[France 24 · BBC News]

Key facts

  • Maricarmen Abascal, 87, was evicted from her Madrid apartment on September 23.[Associated Press · France 24]
  • The investment firm that bought the apartment sought to raise Abascal's rent by 230%.[The Guardian]
  • About 10,000 people protested in Madrid hours after the eviction.[The Guardian]
  • Idealista reports that average rental costs in Spain rose 84% over the last 10 years.[BBC News]
  • The Bank of Spain estimates a housing shortfall of around 750,000 homes.[BBC News]
  • Bank of Spain figures from 2024 show companies own only 8% of rental properties.[BBC News]
  • Prime Minister Pedro Sánchez called a snap election for 29 November after Congress rejected emergency housing reforms.[France 24 · BBC News]
  • Protesters blame property owners and vulture funds for high rents, and one protest sign described the deaths as murders.[Associated Press]

What remains uncertain

  • Whether vulture funds drive rent increases is disputed, and available data make the scale of fund ownership hard to establish.[BBC News]
  • The 750,000-home shortfall is a Bank of Spain estimate, and a possible rise to one million by 2028 is a warning rather than a confirmed projection.[BBC News]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.