The Spanish real estate market is at a significant crossroads with the upcoming implementation of the new State Housing Plan 2026, announced by Pedro Sánchez’s government. This initiative promises a substantial increase in the budget for public housing, a necessary step in a context where current numbers show a concerning stagnation: of the 4.175 billion euros allocated to the Ministry of Housing for 2024, only 41.6% has been spent to date. This poor execution has sparked a wave of criticism and calls for more efficient budget management from various sector experts.
A prominent voice is that of Mercedes Blanco, CEO of Vecinos Felices and a key member of Fincas Blanco. Blanco has stressed that good intentions are not enough; what’s essential is to implement solid and coherent long-term planning to ensure an affordable and sustainable rental market. The creation of a new public housing company is one of the cornerstones of this plan, projected to manage over 30,000 homes from the ‘bad bank’, with 13,000 ready for immediate use. Despite these proactive measures, Blanco warns that the real challenge will be ensuring these actions have long-term sustainable strategies.
Blanco has also highlighted the importance of adapting policies to the country’s changing demographic and social realities, such as the increase in single-parent families. She suggests initiatives like increasing buildability and allowing the segregation of estates to boost density in strategic areas, as well as improving infrastructure to ease access to housing located up to 50 kilometers from Spain’s major cities.
There is also particular concern about the inefficient use of already approved budgets, such as the Young Renters’ Voucher, which, despite having 200 million euros allocated since October, has not been rolled out in several autonomous communities due to a lack of calls for applications. For Blanco, this is a clear example of the disconnect between fund allocation and effective application, making it difficult to have a truly accessible rental market.
Finally, Blanco warns that if the public sector does not take proactive financial responsibility, solutions for the structural housing problem will be insufficient. She emphasizes the need for a relevant portion of the income generated by the housing market, particularly through taxes, to be directed towards effective policies that comprehensively address rental demand. With this call to action, Blanco seeks not only to raise awareness about the importance of coherent planning but also to urge policymakers to adopt concrete and sustainable measures that ensure a fairer and more balanced real estate future.
