The extension of the moratorium on mortgages to rental homes raises complex judicial and legal challenges in a market managed, for the most part, by individuals. Stakeholders are being advised to hold private negotiations to modify payments, where appropriate. In Spain, more than 90% of rental homes are owned by individuals, who in many cases use the income to supplement their pensions or wages, compared to 10% in the hands of companies.
The number of households living in rental properties accounts for around 20% of the total, whilst almost 80% of households own their homes, according to the latest ‘Living conditions survey’, by Spain’s National Institute of Statistics (INE ). That percentage is critical however in young people and SMEs.