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Mismatch between supply and demand: Since the Housing Law came into force in May 2023, rental housing supply has dropped by 17%, while demand has surged 79%, causing major market imbalance.

Price increase: This imbalance led to a 24% average rise in rental prices. 25 provincial capitals reached record highs, with Barcelona, Madrid, and San Sebastián being the most expensive.

Impact of legal intervention: The law introduced “stressed market zones” to cap rents, but experts say it caused legal uncertainty and pushed landlords to less-regulated, more profitable seasonal or tourist rentals.

Shift in supply: Seasonal rentals now account for 14% of the market, particularly in Barcelona (47%) and San Sebastián (37%).

Government’s response: Measures include mandatory registration for short-term rentals, new taxes on tourist apartments, and proposals to regulate room and seasonal leases.

Widespread criticism: Owner associations and legal experts argue the law failed—reducing supply, raising prices, discouraging investment, and harming legal security.

Controversial case of Catalonia: Despite early adoption of rent controls, Catalonia saw a 21.5% drop in rental contracts, with no clear overall price decline.

General conclusion: Analysts call for policies that boost housing supply, enhance legal certainty, and foster public-private cooperation. Addressing demand alone is seen as insufficient.

https://www.idealista.com/news/inmobiliario/vivienda/2025/05/26/845766-ley-de-vivienda-ano-ii-crisis-en-el-alquiler-con-mas-demanda-menos-oferta-y-precios?utm_medium=email&utm_campaign=news_daily&utm_campaigntype=retention&utm_creation=news_daily_20250526&utm_date_send=2025-05-2606:22:13&utm_link=m1LeerMasNode845766&utm_project=visitGeneration&utm_recipient_id=72482504&utm_recipient_list=3&utm_source=newsletters