In Spain

spain housing market special

Government caps rents at 2% as inflation approaches 5% and allows tenants to stay for up to ten years

Government has approved a rent reform that caps rent increases at 2% in an effort to control prices. This comes on the same day it was revealed that inflation is approaching 5% due to the “change in economic scenario” caused by rising fuel costs across the economy. On one hand, prices are skyrocketing well beyond expectations; on the other, rent controls penalize around 1.3 million small landlords, who will have…

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Spanish public debt grows at 3.8%, faster than GDP, but runaway inflation reduces it to 99.9% of GDP

According to data from the Bank of Spain (BdE), public administration debt stood at 99.9% of GDP in July, 2.4 percentage points lower than a year earlier, dropping below 100% for the first time since February 2020. In absolute terms, the debt balance rose to EUR 1.744 trillion, a 3.8% increase year-on-year, although it decreased from the EUR 1.763 trillion reached in June. By level of government, central government (State)…