The Socialist Parliamentary Group, known as the PSOE, has introduced a new proposal aimed at addressing the issue of affordable housing across the country. This law aims to increase the value-added tax on tourist rentals to twenty-one percent, turning them into economic activities subject to taxation. Furthermore, the proposal outlines measures to impose greater taxes on empty homes to encourage their use for rentals, as stated by Housing Minister Isabel Rodríguez.

In an effort to incentivise rental affordability, the draft law includes extending tax benefits for net rental income under the national income tax, potentially reaching one hundred percent in areas not classified as stressed. The PSOE plans to implement a more progressive tax system on empty homes, with rates updated in coordination with the Ministry of Finance. Additionally, local councils are urged to enhance these measures through higher local taxes on empty properties.

Another significant aspect of the proposal addresses the taxation of Sociedades Cotizadas de Inversión, or real estate investment trusts. Under the new law, their tax rate would increase from fifteen percent to twenty-five percent unless they develop housing meant for affordable rent, in which case they would face no taxation. The proposed definitions for affordable housing include rental rates below government price indices or those not exceeding an annual income of twenty-six thousand four hundred euros.

However, the law has faced criticism. Both Sumar and Podemos have expressed concerns, particularly regarding potential tax incentives for property owners. Podemos Secretary General Ione Belarra described the proposal as risky, while Sumar spokesman Alberto Ibáñez pointed out positive steps but lamented the lack of measures to genuinely address speculation in the housing market.