Overview

• Vice President Yolanda Díaz gathered Sumar’s ministers to present a draft real decreto ley prepared by Social Rights chief Pablo Bustinduy as a rapid intervention in the housing market.
• The proposal would freeze and extend existing rental contracts by three years, require renewals at the previous price, redefine short stays under 30 days as tourist lets, and extend tenant-style protections to room rentals.
• The plan targets tourist rentals with a 21% VAT and fewer tax breaks for landlords who do not comply with price controls and other rules.
• Sumar seeks to tighten pressure on large property holders by modifying the Temporary Tax on Large Fortunes so owners of four or more homes pay 5% annually on real estate wealth, scrapping the 40% corporate deduction unless rents meet affordability indices, and limiting new buy-to-let acquisitions to affordable leases.
• The initiative was launched days before the housing minister’s congressional appearance, has not been agreed with the PSOE, and would still require negotiation and parliamentary convalidation if advanced as a real decreto ley; Sumar also rejects the PSOE’s €7 billion public-housing plan as insufficient and pivots construction priorities toward SAREB and the SEPE.