Housing decrees reach Congress without enough support: the rent extension, the levy on socimis and Junts' vote

02/10/2026 – ⏱ 4 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

The extraordinary plenary session of the Congress of Deputies is debating this Friday, 2 October 2026, from 11:00, the validation of the two royal decree-laws on housing approved by the Government. According to information published by various media, Junts per Catalunya, whose seven deputies are decisive in the parliamentary arithmetic, agreed on Thursday night to vote against both texts and to call for their withdrawal. At the time of writing, the result of the votes is not known, so the article describes the content of the rules and the positions known so far.

The first decree: 13 measures on rent, taxation and public housing

Royal Decree-law 26/2026 was published in the BOE on 30 September and, according to the media that have analysed the text, brings together a broad package of measures. The rental measures include a two-year extension for contracts expiring before 31 December 2028, a 2% annual cap on rent updates until 31 December 2027, and the equalisation of seasonal and room rentals with conventional leases. It also provides for the suspension of evictions until 31 December 2030 for vulnerable people with no housing alternative.

On the market and investment side, the text prohibits funds from buying homes below 70% of their appraised value until the end of 2028 and establishes a special 25% levy on the undistributed profits of socimis. It also includes 10% VAT on tourist rentals, personal income tax (IRPF) allowances for tenants with incomes of up to 33,000 euros a year and for landlords who reduce the price, and changes to the IBI property tax on vacant homes and second residences, together with a reform of the municipal capital gains tax (plusvalía municipal).

The package is completed by public housing and financing measures: the “TU CASA” programme, with ICO financing at 0% of up to 50,000 euros (20% of the value) for the purchase of a first home, the consolidation of the “Modelo Casa 47” and 4% VAT for public and protected housing development.

The second decree: indefinite rental contracts

Royal Decree-law 27/2026, published on 1 October, regulates the automatic renewal of rental contracts. According to the information available, it obliges a landlord who does not renew to pay compensation of twelve monthly payments and sets a notice period of six months for landlords and two months for tenants. The Government separated this measure from the first text after negotiations showed that the PNV and Junts would not support it within a single decree.

The support: how each group will vote

The groups that support the Government, including PSOE, Sumar, Podemos, ERC and EH Bildu, have announced their support for both decrees. The PNV will back the first and vote against the second, which it considers counterproductive for the supply of rental housing. PP, Vox and UPN reject both texts. The published counts differ slightly depending on the outlet: one puts the votes in favour of the Government at 172 and those against at 178, and another speaks of 165 confirmed supporters. In every case, Junts' vote is what determines the outcome of the first decree.

Junts' arguments and business pressure

Junts argues that the measures will reduce rental supply and push up prices, that the text does not prevent funds from buying housing, that the protection for vulnerable tenants is insufficient and that it amounts to “expropriation by decree” of family savings. The party has made its vote in favour conditional on the Government approving a new text through the ordinary channel. Over the past week, business organisations such as the CEOE and Foment del Treball have publicly criticised the measures, and the real-estate portal idealista has described them as out of touch with the reality of the market.

What happens if a decree is not validated

A royal decree-law comes into force on the day it is published and loses its effect if Congress does not validate it within the constitutional period of thirty days. If it is not validated, the measures would cease to apply from that moment, with no retroactive effect on what has already been done. The Government could present a new text or process some of the measures as a bill, which would prolong the regulatory uncertainty.

Why this matters to the real-estate investor

The outcome of the vote affects variables that influence residential investment: the terms of existing rental contracts, the cap on rent updates, the tax treatment of socimis and the restrictions on purchases by funds. Sectors such as residential rental, protected housing development and vehicles that invest in leased property are the most exposed to a change of framework. The uncertainty is added to a context of more expensive financing, with the Euribor at its highest since 2024 according to the latest published data.

This information should be read with caution: these are decrees still being processed, with a parliamentary result yet to be known and possible later amendments. Past results are no guide to future ones, and any real-estate investment carries risks of illiquidity, default and total or partial loss of capital.

Regulatory changes can alter the conditions of projects. At European level, the activity of crowdfunding platforms is governed by Regulation (EU) 2020/1503 and, in Spain, by the implementing rules and supervision of the CNMV.

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