The article highlights the impact of foreign investment on Spain's real estate market, particularly in Madrid, where rising prices are leaving locals struggling to afford housing. A real estate agent describes a converted shop serving as an apartment, promoting its rental potential to students despite zoning issues. The report reveals a disconnect between soaring demand from wealthy investors and the dire situation for residents facing skyrocketing rental costs, exacerbated by homes being rented to tourists. This worsening housing crisis has sparked protests in various regions, reflecting the deepening struggle for affordable housing.
One of them doesn't even have a window. However, the space could be 'easily rented out to students' for 1,300 ($1,484) if the prospective buyer is willing to ignore what he calls 'a small catch.'
Unlike a decade ago, when cheap credit boosted the housing prices in Spain, today, the sky-high prices... are driven by foreign investors with deep pockets.
Those living in Spain, meanwhile, are struggling to afford skyrocketing rents, a situation compounded by the growing share of homes being rented out to international tourists visiting Spain.
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