On January 20 which is also BlueMonday—often referred to as the gloomiest day of the year—it is worth looking not only to the United States but also at real progress in the fight to combat housing precarity here, in Europe.
From a massive public housing programme to curbing speculative house purchases, tackling the rapid rise of tourist apartments, and supporting young people, Spain’s Prime Minister Sánchez’s recent plan aims to make decent, affordable housing what it should always be: a fundamental right, not a financial instrument.
The plan follows the example of housing systems in places, where public housing plays a central role in stabilising prices and ensuring accessibility. It also challenges a policy model that prioritises tax cuts and deregulation—an approach that, in Spain’s own history, fuelled skyrocketing house prices, mass foreclosures, and a financial collapse.
Key measures include a strong intervention in the housing market to curb speculation, with limitations on large investment funds acquiring entire buildings and stricter regulations on non-EU buyers looking to invest in high-end properties. To counter the growing number of tourist apartments pricing out local residents, Spain’s government is also pushing for nationwide restrictions, supporting the efforts of municipalities already taking action.
Importantly, this policy shift comes as Europe faces a deepening housing crisis, with prices soaring by up to 50% in the past decade. Governments across the continent will soon have to decide: will they prioritise market liberalisation or take a more active role in shaping a fairer housing system?
Will European governments follow Spain’s example, recognising that addressing housing as a social right is also a pathway to competitiveness, better well-being, skills improvement, and job integration?