Tens of thousands protest high rents in Barcelona

Tens of thousands of people clogged the streets of downtown Barcelona on Saturday to protest the rising cost of renting an apartment in the popular tourist destination.

The protesters blocked traffic on main avenues in the city centre, holding up signs in reading “Fewer apartments for investing and more homes for living" and “The people without homes uphold their rights.” They are demanding a 50% drop in rents and are calling for a strike if the housing situation does not improve.

The protest's organisers claimed that over 126,000 took part, while local police put their estimate at around 22,000.

The high cost of housing has become a major issue in Spain, much like the housing crunch being experienced across many other parts of the world. The average rent in the country has doubled in the last 10 years - the price per square metre has gone from €7.2 in 2014 to €13 this year, according to online real estate website Idealista. The skyrocketing rent is even more severe in major cities like Barcelona and Madrid, while incomes, particularly for younger people, have lagged well behind.

One protester said he is “frustrated and scared” after being told by the owners of the apartment he had been renting for the past 15 years in Barcelona’s city centre that he must move out. He believes that they plan to renovate the apartment and boost its price. Despite earning a "decent salary", he feels he "may be forced to leave town".

A Bank of Spain report says that nearly 40% of Spaniards who rent spend an average of 40% of their income on rents and utilities, much higher to the European Union average of 27%.

Ignasi Martí, a professor for Esade business school and head of its Dignified Housing Observatory stressed that “We are talking about a