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The Spanish government on Tuesday enacted measures including an eviction ban through 2030 and the automatic renewal of tenant contracts following days of nationwide housing protests.
However, the measures face an uncertain future as the left-wing coalition lacks a majority in a heavily fragmented parliament, with a vote scheduled for Friday.
Unaffordable housing has plagued Spain for years, but last Wednesday's eviction of 87-year-old Madrid pensioner Maricarmen Abascal triggered national outrage.
Demonstrators have established around 100 tents in Madrid's emblematic Puerta del Sol square since Saturday night, while tens of thousands protested across the country.
The Socialist-led government rushed to finalize a deal with far-left coalition partners Sumar at Tuesday's cabinet meeting. Socialist Housing Minister Isabel Rodriguez told reporters the measures represented "an agreement of huge social significance" addressing "the main problem of Spaniards".
Rodriguez said the package would "halt speculative purchases" by funds to stop them from "continuing to market an essential asset", though she did not specify how such companies would be identified.
Residents often blame investment funds, labelled "vulture funds" by critics, and short-term tourist rentals such as Airbnb for driving up rents and reducing housing supply. The measures also include new regulation for seasonal rents and the renting of rooms.
Sumar's Health Minister Monica Garcia hailed the protesters for making the government measures possible, posting on social media that what had been achieved was "unimaginable a month ago".
Socialist Justice Minister Felix Bolanos wrote on X: "Today is a great day for tenants and small homeowners. And a bad one for speculators."
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