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vulture fund
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- 1
Spain's government has moved to prohibit vulture funds from purchasing housing at less than 70% of its value, a measure aimed at curbing speculative bulk buying of homes. The announcement, reported by El País and tied to debate in Congress, is drawing attention amid Spain's ongoing housing affordability crisis and pressure on lawmakers to act.
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Around twenty families in Malaga, southern Spain, say a vulture fund has cancelled their rental contracts, raising fears of eviction. The claim was reported by Andalusian broadcaster Canal Sur. Local reaction has focused on the growing role of investment funds in housing and the vulnerability of long-term tenants when buildings change ownership.
- 3Spain moves to ban vulture funds from housing market▼Spain seeks to ban ‘vulture funds’ from housing market
Spain is seeking to ban so-called vulture funds from its housing market, according to the Financial Times. The move targets investment funds that buy distressed property to profit from resales or rents. It comes amid ongoing pressure over housing affordability and evictions, which have made real estate speculation a politically charged issue in Spain.