Spain’s once substantial rental market is now one of the smallest in Europe

Fewer than one in four of Spain’s 18.6 million households rents their home, reflecting strong policy bias toward homeownership. Renters are young, have lower incomes, and are more likely to be immigrants. The rental market is composed mostly of nonprofessional landlords, although recently, international companies have started to develop and manage rental housing. Public policies have been traditionally designed to promote homeownership and have failed to provide enough rental housing, especially public rental housing.