The Sumar party will bring a proposal to Congress next week to amend the 2023 Housing Law and prohibit investment funds, companies, foundations, or any legal entity from buying homes in Spain.
Alberto Ibáñez, Sumar's Housing spokesperson and a member of parliament for Compromís, had already announced this initiative in April. He did so to try to curb real estate speculation. More than seven months have passed since it was registered, but now the full Congress will finally debate the proposal, according to the draft agenda obtained by Europa Press.
Sumar's idea is clear: housing is intended for individuals, for those who actually live in and enjoy a home. According to the group, allowing legal entities to own homes does not correspond to this right of use and enjoyment, but rather turns housing into a mere investment product for making money.
That is why Sumar advocates reforming the Housing Law and eradicating speculation. They want to limit the transfer of homes, whether by sale or gift, to individuals only. Legal entities would only be allowed to own non-residential properties, that is, those used for business activities.
Ibáñez defended the proposal, saying it is simple, perfectly constitutional, and compliant with European regulations. He is confident there will be enough support in Congress for the initiative to move forward and even calls it "conservative."
Ibáñez would like to go further and open the debate on how many homes a person can own, but acknowledges there is no agreement on that in Parliament. Even so, he believes there is a majority, from the far right to the left, that wants to put limits on the speculation that companies and funds engage in with housing.
"I am convinced that the PNV and Junts will be comfortable saying goodbye to vulture funds, so I think the proposal can count on that parliamentary majority," Ibáñez stated.
