Overview

• Economist Gonzalo Bernardos calls for government action that gives landlords legal certainty and fiscal incentives to expand rental supply.
• He points to an acute imbalance of demand over supply, citing European Central Bank data showing home prices overvalued by 14.3% in Q3 2025.
• Market platform figures show coping shifts among young people, with a 24% jump in available rooms in shared flats over the past year.
• Bernardos expects roughly 780,000 home sales in 2025 and about 840,000 in 2026, with some projections near an 8% price increase next year.
• He warns that without reforms more people could end up in trailers or other marginal housing, noting many buyers lack savings for the upfront costs of a mortgage despite cheaper monthly payments in many provinces.