87-year-old woman's eviction from Madrid apartment sparks protest against Spain's housing crisis
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87-year-old woman's eviction from Madrid apartment sparks protest against Spain's housing crisis

Fortune • • general

Key Points:

  • Protesters in Madrid rallied against the eviction of 87-year-old María del Carmen Abascal, who was forcibly removed from her longtime apartment in the upscale Retiro neighborhood, highlighting Spain's broader housing crisis.
  • Abascal's rent was drastically increased by an investment fund after the building changed ownership, making it unaffordable on her pension despite previous court blocks on eviction attempts.
  • The protest, organized by the Madrid Tenants’ Union, underscores widespread frustration over rising housing costs, limited public rental options, and aggressive real estate practices by investment funds in Spain.
  • Spain faces a significant housing shortage, estimated at 550,000 homes, with major cities like Madrid, Barcelona, and Valencia under particular pressure due to population growth and insufficient public housing stock.
  • Abascal has become a symbol of resistance, urging others to fight for their housing rights despite her eviction, as protesters occupied Puerta del Sol plaza, signaling ongoing social unrest over housing issues.

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