Fraud attempts, 1,100 euros and two months of bail with reservation: speculation spreads through the apartments of university students

Students in Spain face mounting pressure as speculation drives up housing costs, with some forced to pay deposits and higher rents for university accommodation. In mid-June, José Manuel Graiño, a 21-year-old student from Laredo in Cantabria, and two friends found themselves caught in a common scenario: they had been searching for months for a rental apartment near the University of Cantabria (UC) in Santander. After viewing several options, they believed they had secured a deal, until the last moment, when the landlord suddenly increased the price from €900 to €1,000 and demanded a deposit as proof of reservation. Graiño and his friends refused to accept the change, citing both financial constraints and a lack of trust in the sudden shift. They eventually found another place, though not without difficulty. The experience highlights a growing trend among students in Spanish cities such as Santander, Murcia, and La Laguna, where rising prices and speculative practices have made securing affordable housing increasingly challenging. The situation has become so dire that many students are now paying over €1,000 per month for a 65–70 square meter apartment, often with a two-month deposit required before even signing a lease. Some are forced to move out each June, creating a cycle of instability. This pattern mirrors similar issues in larger cities like Madrid and Barcelona, where housing markets have long been under strain. However, in smaller cities, the effects seem more pronounced due to their limited supply and lower income levels. Miguel Díaz, an investigator at the Complutense University and author of the report Segovia. Ciudad tensionada, notes that medium-sized cities like Santander, Murcia, and La Laguna are experiencing new pressures on their housing markets. He explains that these areas, despite being smaller in scale, can see dramatic shifts in pricing because of the relatively small number of available properties. “The effect on the rental market can be far greater,” he says, emphasizing how universities and other institutions contribute to this dynamic. Ignacio Ezquiaga, an economist and researcher at Funcas, adds that the rise in housing costs is not just about overall inflation but also about the relationship between property prices and income. He points out that while the market for already expensive homes tends to grow more slowly, the gap between affordability and demand continues to widen. “There’s a tendency toward equalizing access, but it’s still out of reach for many,” he says. Ezquiaga also highlights the role of urban density and regional disparities. Prices vary significantly between densely populated areas and less developed regions, and this disparity affects students who come from outside the city. For example, students arriving from rural areas or smaller towns often find themselves struggling to afford housing in medium-sized cities where salaries remain lower than in major metropolitan centers. He suggests that one advantage of medium-sized cities is their potential for increasing housing supply through new construction, renovation, or densification. However, this potential is being undermined by the ongoing exodus from rural and smaller communities. “These areas could offer more attractive and affordable living conditions, yet they’re failing to retain populations,” Ezquiaga argues. In Segovia, Díaz’s research shows that average rental prices have nearly doubled in recent years. “This represents a fundamental shift in the housing model,” he warns, noting that long-term rental availability has drastically decreased. The result is a market dominated by short-term leases and inflated prices, leaving students and young professionals in precarious situations. Meanwhile, in Santander, the cost of a modest apartment has surpassed €4,000 per month, reflecting the broader national trend. As the government of Cantabria, led by the Popular Party (PP), continues to finance certain housing initiatives, the challenge remains whether these efforts will be enough to alleviate the growing crisis. Students like Graiño continue to navigate a system where stability seems ever more elusive.