Spain Vulture Fund Evicts 87-Year-Old After 70 Years

September 28, 2026
2 mins read

María del Carmen Abascal, known as Maricarmen, was carried out of her Madrid apartment on a stretcher on Wednesday. She had lived in the same home for more than 70 years.

Maricarmen had lived in the apartment near El Retiro Park since 1956, when her father first rented it. She inherited the lease after her parents died, paying about €500 a month under an old-style rent-controlled lease. Everything changed in March 2018 when the building was sold to Urbagestión Desarrollo e Inversión, an investment fund that raised her monthly rent to €2,650 — more than five times the original amount.

The fund later lowered the rent to €1,650, which Maricarmen, living on a pension of €1,350 a month, still could not afford. Courts blocked three previous eviction attempts. The fourth succeeded on Wednesday, and Maricarmen was taken to Gregorio Marañón Hospital.

“This whole housing situation is heartbreaking. Maricarmen has been, in a way, the last straw that sparked this social unrest, but we’ve been dealing with this whole issue for a long time now,” said protester Simón de la Riva, a 43-year-old teacher. “It’s unacceptable that vulture funds are buying up homes, that people can’t afford to live, that entire families are being evicted, and that an elderly woman has been evicted.”

Tens of thousands marched through Madrid on Saturday to protest the eviction. Government officials estimated 25,000 people attended; the Madrid Tenants’ Union claimed more than 300,000. Some demonstrators camped overnight in Puerta del Sol square.

The Bank of Spain estimated Spain had a shortage of about 550,000 homes last year, with Madrid, Barcelona, and Valencia accounting for a substantial share. Rent in Madrid has nearly doubled in a decade, rising from €12.80 per square metre in August 2016 to €23.30 in August 2026, according to Idealista.

Prime Minister Pedro Sánchez addressed Maricarmen directly at a Socialist Party rally on Sunday: “I have a message for you, Maricarmen: the government is working around the clock to bring a Royal Decree on housing next Tuesday.” The Royal Decree-Law on Housing, pushed by coalition partners Sumar, would freeze rent prices and halt evictions when no alternative housing is available nearby.

Maricarmen spoke to supporters via video from her hospital bed. “I did not manage to defend my home, but I have fought so that others learn to fight for theirs,” she said. “Please fight,” she told supporters. “I send you all a very big hug and thank you for everything.”

Madrid regional president Isabel Díaz Ayuso blamed the national government, saying the eviction was carried out by National Police officers in compliance with a law “that this government and its coalition partners have had eight years to amend if they disagreed with it.”

The [Spain Airbnb removal](https://www.karmactive.com/spain-orders-airbnb-to-remove-65000-listings-amid-housing-crisis-crackdown) — Spain’s government ordered Airbnb to remove 65,000+ listings amid its housing crisis crackdown — shows the scale of the rental market distortion. Maricarmen’s story was also referenced in coverage of the Grand Canyon floods, which noted the eviction as a symbol of Spain’s housing crisis. For official housing data: Bank of Spain housing shortage report.

**Priority PAA: Why was the 87-year-old evicted in Spain?** Urbagestión bought her building in 2018 and raised rent from €500 to €2,650. Courts blocked three evictions; the fourth succeeded. She was hospitalised after being removed.

The Royal Decree on housing is expected next Tuesday. Check back for updates.

Govind Tekale

Embarking on a new journey post-retirement, Govind, once a dedicated teacher, has transformed his enduring passion for current affairs and general knowledge into a conduit for expression through writing. His historical love affair with reading, which borders on addiction, has evolved into a medium to articulate his thoughts and disseminate vital information. Govind pens down his insights on a myriad of crucial topics, including the environment, wildlife, energy, sustainability, and health, weaving through every aspect that is quintessential for both our existence and that of our planet. His writings not only mirror his profound understanding and curiosity but also serve as a valuable resource, offering a deep dive into issues that are critical to our collective future and well-being.

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