vulture funds

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.

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.