The debate over housing policy has drawn sharp criticism from the Association of Rental Realtors, ASIPA, which represents the leading real estate players investing in Spain. Government-backed housing laws were introduced under a framework that some see as a new norm, yet the changes create uncertainty for short-term decisions. In an interview with El Periódico de España, Enrique Illán de Haro, president of ASIPA, argued that the policy would make Spain less competitive for attracting the savings already present in the market. He emphasized that this capital is essential to relieve the ongoing housing supply shortage and to keep investment momentum intact for the long run.
ASIPA members, who oversee major property holdings across the country, warn that the revised rules could reshape the playing field for years to come in rental housing investment. A immediate consequence could be a slowdown in property acquisition if owners cannot align rental income with market expectations. Such a shift risks reducing the available housing stock and aggravating the disruption to the existing rental market. Some property owners, aiming to avoid perceived risk, may decide to sell assets and exit the rental market, effectively shrinking the available supply further.
Feijóo’s stance on housing policy has become a talking point, with critics noting that debates have not adequately addressed concerns about squatting or the broader legal framework. The discussion continues to focus on practical steps to improve the rental market without compromising property rights or market fairness.
Improve the rental market
The ASIPA chair rejects price controls as a viable solution within a free market. He argues for a more fluid land-use approach with streamlined processes and higher legal certainty. Solving the crisis, he says, requires expanding the housing offer and making rentals financially viable with appropriate public support where needed. Atlas Real Estate estimates Spain requires about 1.83 million rental homes to meet current demand, with the majority concentrated in Andalusia, the Valencian Community, Galicia, Madrid, and Barcelona.
The ASIPA leadership includes prominent owners such as Azora, Axa IM, Allianz, and CEVASA. Their proposals focus on affordable price adjustments within the rental sector and targeted public backing to ensure economic viability for landlords. They also advocate measures to strengthen private property rights while improving the development, construction, and operation of rental housing. The aim is to reduce tax penalties that discourage investment, while preserving a framework that discourages non-payment and prevents squatting through effective policy tools and public funding that targets social vulnerabilities without eroding private savings.
From a public administration perspective, ASIPA emphasizes mobilizing public lands and reinvesting benefits from urban development into social housing initiatives today. The objective is to support the creation of housing options that meet real social needs without compromising the sustainability of public resources.
Other ASIPA claims
Another central demand concerns municipal surplus value. Illán de Haro notes that it is impractical to allow municipal gains to occur without corresponding gains from property sales. While acknowledging that there is no one-size-fits-all method for calculating this value, he highlights that such revenue streams are a crucial source for many municipalities. Any EU-aligned agreement on municipal taxation would need to consider potential impact on public budgets, aiming to maintain essential urban services while promoting fair reforms.
The association also calls for greater flexibility within horizontal property law. The goal is to modernize how agreements are reached in multi-owner communities, removing overly strict requirements that can stall building renovations and other important reforms. The intent is to empower residents and property managers to reach consensus more efficiently while preserving fair processes for all parties involved.