In a bold move to protect tenants from eviction and curb real estate speculation, Barcelona has purchased the Casa Orsola, a symbolic building at the center of the city’s housing crisis. The city partnered with affordable housing provider Habitat 3 to buy the property for €9.2 million ($9.5 million), preventing its conversion into medium-term rentals.

The acquisition follows years of protests against rising rents and evictions fueled by real estate speculation. While housing activists hail the buyout as a victory, critics argue that purchasing individual buildings is not a sustainable solution to the broader affordability crisis.

Barcelona's action mirrors similar government-led property buyouts in Berlin, where officials sought to limit rent hikes. The move underscores the ongoing tension between housing policy, affordability, and investor interests, as cities worldwide grapple with how to regulate their real estate markets.