Spain has approved an $8 billion housing plan that will triple government investment in public housing over the next four years to address a worsening housing shortage. The shortfall, which has left many Spaniards unable to buy or afford rentals, is being driven by rising immigration, record tourism and rapid growth in short-term rental platforms such as Airbnb; Spain expects to receive more than 100 million tourists this year. Increased tourist demand and short-term lets have tightened housing

Spain has approved an $8 billion housing plan that will triple government investment in public housing over the next four years to address a worsening housing shortage. The shortfall, which has left many Spaniards unable to buy or afford rentals, is being driven by rising immigration, record tourism and rapid growth in short-term rental platforms such as Airbnb; Spain expects to receive more than 100 million tourists this year. Increased tourist demand and short-term lets have tightened housing supply, forcing some residents into campervans or mobile homes.