Barcelona City Council approved new urban planning modifications this Friday to tighten controls on short-term rentals and room rentals. This action comes as Mayor Jaume Collboni recently proposed a ban on non-European Union foreigners purchasing second homes in the city. These measures aim to combat the severe housing speculation impacting local residents and the property market.
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Residents Face Housing Speculation
Residents in central districts like Dreta de l’Eixample, home to approximately 260,000 people, have witnessed a surge in entire buildings being converted into luxury housing. Jaume Artigas, president of the Dreta de l’Eixample residents’ association, highlighted 116 speculative developments across areas such as Passeig de Sant Joan, Rambla de Catalunya, and Casp Street. He noted that in the worst cases, these projects involve cancelling existing contracts and initiating evictions.
Artigas stated, “Many of the buyers are foreigners who do not live in these houses, but keep them for when they come to Barcelona for the weekend.” He explained that around 30% of homes in the district lack registered residents, according to data from the Ajuntament, Barcelona’s City Council, according to Observatorio Desca. This trend has also transformed local commerce, with over 40% of shops on Consell de Cent, between Passeig de Gràcia and Girona, now catering to tourists.
Policy Shifts Against Golden Visas
The rise of “Brand Barcelona” following the 1992 Olympic Games initially attracted wealthy tourists to acquire properties. These purchases first concentrated in Passeig de Gràcia and later expanded across the city centre. National policies, such as the “golden visas” introduced by the Mariano Rajoy government, further encouraged this trend. The golden visa scheme granted residency permits to non-EU foreigners who purchased properties valued over 500,000 euros.
However, Spain’s ongoing housing crisis has prompted a significant policy shift. The Spanish government officially ended the golden visa programme in April last year. Additionally, Spanish Prime Minister Pedro Sánchez announced a proposal last year for a 100% tax on home purchases by non-resident foreigners. Parliamentary sources indicate this initiative is registered in the Congress of Deputies but currently lacks sufficient support to proceed.
Government Commitment to Curb Speculation
The Ministry of Housing, led by Isabel Rodríguez, affirmed its commitment to combating speculation. A spokesperson for the department stated, “The Ministry of Housing is committed to the fight against speculation. It is a constitutional mandate and a social necessity.” They confirmed “measures adopted, others in progress, and more under study” to limit housing purchases as financial assets. The Catalan government has also implemented measures through its “tensioned market zones” framework. This approach allows for extraordinary interventions affecting property rights, facilitating rent caps and now limiting speculative housing purchases.
This week, pressure from Gràcia residents and the Tenants’ Union successfully prevented the eviction of Txema Escorsa. His building was purchased by a fund intending to rent rooms for 850 euros. Catalan President Salvador Illa condemned the eviction on X, stating, “In no city in Catalonia will we allow abusive actions against the right of residents to live in their neighbourhood.” He added, “We have activated all legal mechanisms to protect residents.”
Market Response and Future Outlook
The real estate sector suggests that the mere announcement of these measures is already deterring some investors. A report from the College of Notaries indicated that in 2025, foreigners sold 12,010 more homes than they bought. This accelerates a “disinvestment trend in the residential market” observed since 2010. However, some real estate agents report that individual foreign buyers remain largely unaware of these new policies.
Guifré Homedes, second vice-president of the College of Real Estate Agents of Barcelona, explained, “Those who come from abroad do not know all these measures. And we did not see a big impact with the end of the golden visas. Foreigners buy because they want an asset here because they believe it is a safe environment. And it continues to be so.” Louis Kretz and Adriana Pinos, from a prominent real estate family, acknowledged the need for regulation. Pinos commented, “It is good. We perfectly understand why they want to regulate. Many abuse, tourist flats make a lot of noise, and citizens cannot buy in the centre of Barcelona or Madrid. It is good to limit purchases by those who are not in the country and invest very short-term.”
As more legislation comes into effect, Kretz anticipates that some property owners might sell. The impact on large investment funds, particularly in Catalonia, appears significant. However, the long-term effects on the broader Barcelona property market and the city’s ability to provide affordable housing for its residents remain to be fully seen.
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Originally published by El País Barcelona. Read original article.
