Renting a one-bedroom apartment in central Madrid costs about three-quarters of the average salary.
Workers in Spain held a general strike over the country’s housing affordability crisis, an issue that has swept to the top of voter concerns across Europe. Spain’s socialist leader hopes the demonstrations will galvanize support for his party ahead of elections this month. The housing crunch has worsened during his latest term, as it has across much of Europe: Renting a one-bedroom apartment in central Madrid costs about three-quarters of the average salary, with dozens of cities surpassing the 30% threshold generally considered optimal.
Owning has gotten more expensive too as interest rates rise and persistent red tape makes new-home construction almost impossible. Demonstrators hope to seize on the moment. “A historic window of opportunity has opened,” one said.
— Jeronimo Gonzalez
In brief
Workers in Spain held a general strike over the country’s housing affordability crisis, an issue that has swept to the top of voter concerns across Europe. Spain’s socialist leader hopes the demonstrations will galvanize support for his party ahead of elections this month. The housing crunch has worsened during his latest term, as it has across much of Europe: Renting a one-bedroom apartment in central Madrid costs about three-quarters of the average salary, with dozens of cities surpassing the 30% threshold generally considered optimal.
This is the opening of the story, shared with credit to Semafor. The rest of the report — with every detail — continues on the publisher’s website.
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