Thousands protest in Spain as tourism prices locals out of their homes

Thousands marched in Madrid on Sunday to demand affordable housing as locals grow frustrated at being priced out of the market

Under the slogan "Housing is a right, not a business," residents of the Spanish capital marched to demand lower rents and better living conditions. According to government estimates, 12,000 people took to the streets in the protest.

Key takeaways

• Spain, the second most visited country after France, is expected to welcome a record 95 million tourists this year, nearly double its population;
• In July, the Spanish government announced a crackdown on short-term and seasonal vacation rentals, aiming to verify the licensing of listings on platforms such as Airbnb and Booking.com;
• The country faces the challenge of balancing its tourism-driven economy with growing concerns about unaffordable rents, as gentrification and the rise of tourist rentals push up housing prices for locals.

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