Spain’s housing market is reaching a breaking point, and the pressure is coming from a familiar place: skyrocketing rental costs. While wages have stagnated, rent prices have climbed three times faster, creating a massive gap. The root cause is simple scarcity. Unlike other markets, Spain relies heavily on second-hand housing rather than buildings specifically constructed for renting. This lack of supply has created a bottleneck that is making it nearly impossible for people to find a place to live.