A Spanish businessman who owns 200 properties has attacked the government’s housing policies, claiming that threats of expropriation and higher taxes are driving landlords out of the market.
Ruben Zaballos said he converted many of his homes into tourist accommodation after experiencing problems with tenants failing to pay their rent.
Speaking on television programme LaSexta Xplica, Zaballos revealed that he acquired the properties from so-called vulture funds before moving them into the short-term rental market.
However, he admitted that only 10 of his 200 properties, equivalent to 5%, had experienced problems involving tenants.
People around him nevertheless advised him to stop providing conventional rentals because of the need to monitor payments, he said, while tourist lets were ‘more convenient’.
Landlords have repeatedly complained of Spain’s incredibly pro-tenant laws, which make it difficult to remove people when they stop paying rent.
Plans to sell all 200 homes
Zaballos now intends to sell his entire property portfolio during 2026, claiming that his other businesses produce better returns.
‘Housing policy is being managed terribly,’ he said.
‘These messages about ‘we’re going to expropriate and tax business owners to death’ do not help.’
His intervention comes as Spain struggles with rapidly rising rents, a shortage of affordable homes and growing anger towards landlords with extensive property portfolios.
The government has proposed measures including stricter regulation of seasonal rentals, controls in officially designated stressed housing areas and higher taxes affecting tourist accommodation.
Some proposals have also sought to penalise owners of multiple empty properties, although their application depends on the relevant legislation and decisions taken by regional and municipal authorities.
Pedro Sanchez’s government attempted to pass two flagship housing decrees this week but failed to garner enough votes in Congress.
Housing protests are taking place across the country on Saturday.
Spain has one of the EU’s lowest youth-emancipation rates, with just 14.5% of people aged between 16 and 29 living independently in 2025.
However, the figure was 6.3% lower than a decade earlier, according to housing organisation Provivienda.
Young Spaniards leave the family home at an average age of approximately 30, compared with an EU average of 26.2.
In Finland, by contrast, the average is 21.4.
Provivienda estimates that young tenants in Spain would need to spend more than 98% of their individual salary to cover average market rent without sharing.
Spain’s State Housing Plan for 2026–2030 includes €7billion intended to expand the supply of affordable accommodation.
However, the government suffered a major defeat on Friday when Congress rejected two emergency housing decrees covering evictions, rental contracts, temporary lets and investment funds.
Landlords argue that increasingly restrictive rules and fears over unpaid rent are reducing the supply of long-term accommodation.
Housing campaigners counter that property owners continue to receive substantial returns while millions of younger and lower-income residents are priced out.
