Editorial: El Mundo

• The property crisis in Spain is largely attributed to the low profitability for businesses and investors in building homes.
• There is rapid demographic growth due to immigration, and accessibility to housing is increasingly difficult.
• Public policies have avoided their responsibility to stimulate the supply of homes, which is currently stagnant.
• The complexity and bureaucracy of starting a construction company are obstacles.
• Lack of legal security and a government interventionist trend exacerbate the problem.
• The high tax cost of buying a home in Spain (around 30% of the final price).

Conclusion: A review of policies, focusing on incentivising private construction supply and building more public housing, is needed to correct the growing imbalance in the Spanish property market.

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