New data from the Bank of Spain reveals that 92% of the country's rental market is controlled by over three million individuals. Almost half of these rented dwellings belong to families who own no other properties, with 1.5 million owners holding just one unit.
The central bank reports that nearly one in four citizens now lives in rented accommodation as homeownership rates have fallen from 80% to 70%. While companies control 500,000 properties, 46.6% of individual landlords manage only a single rental investment.
Under Spanish Housing Law, large holders are those with ten houses, yet these owners represent just 3.6% of the total. With 27% of secondary properties currently sitting empty, the proportion of homes destined for rent has risen to 21% from 18% in 2016.