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Local Spain
4 days ago
- Business
- Local Spain
300,000 tenants in Spain hold their breath for the ‘great rent hike'
Hundreds of thousands of renters in Spain could face what the Spanish press has dubbed the 'great rent hike' in the next year, forecasts suggest. The Spanish rental market has had a particularly turbulent time in recent years. This is especially true in the post-pandemic period, when an explosion in short-term tourist rentals combined with supply shortages have sent prices soaring and forced locals to spend up to half their income on rent or, in many cases, leave their neighbourhoods altogether. Now things could be about to get a lot worse for hundreds of thousands of tenants across Spain. According to figures from El País, over the course of 2025 more than 300,000 households in Spain will see rental contracts signed in 2020 expire, a year in which the pandemic prompted a large number of rushed renewals and new leases as people sought out security. In 2019, Spain's Law on Urban Leases (LAU) was amended, extending the duration of contracts from three to five years, or seven if the tenant is a company. Therefore, contracts signed after the change will begin to expire in 2025. Spanish law also establishes that contracts be updated in the case of properties owned by individuals, who make up the majority of landlords. This means that a huge cohort of tenants could face rent hikes of between 20 and 30 percent, according to conservative forecasts. However, this figure varies significantly depending on the source. While real estate portals, which usually base their figures on asking prices, not actual contracts, report increases of close to 40 percent, other experts, such as José García Montalvo, a professor at Pompeu Fabra University, who told El País that the real increases would likely not exceed 30 percent, based on tax records from the tax agency. In any case, even the most conservative estimates seem to confirm that the rent hikes will be substantial for low and middle-income households across the country. For many, leaving their tenancy will not be an option because the volatility of the rental market means prices are going up everywhere and a 20-30 percent increase may be their best option. According to price data from Idealista, the average price of rental housing in Spain in April 2020 was €10.7 m2 per month. By the same period of 2025, it had risen to €14.3, an increase of 38.3 percent. This means that tenants paid an average monthly rent of €856 for an 80 m2 property in 2020, but in 2025 the same property would cost €1,144 per month. In cities such as Madrid, Barcelona and Valencia, as well as in the Balearic and Canary Islands, prices have more than doubled in some areas.
Daily Mail
03-05-2025
- Health
- Daily Mail
EXCLUSIVE Doctors issue warning over drug taken by 150m that causes people to put on 10lbs
Millions of Americans taking a common drug are twice as likely to become obese, a major study revealed. One in 10 Americans take antidepressants and rely on them to reduce anxiety, ease depression and improve overall mental health. However, the pills could come at the cost of another health crisis. Tracking over 3,000 adults, Spanish researchers found people who took antidepressants for six years on average gained up to twice more body weight than non-users. And even after accounting for diet, exercise and overall mental health, the drugs' effects compounded over time. Roughly one in four people in the study gained more than five percent of their body weight - an increase medically linked to a heightened risk of diabetes, heart disease, and joint problems. Participants who started taking antidepressants during the study gained an additional three percent of their total body weight, while long-term users (already on the drugs at the start of the study) gained two percent. Dr Gabriela Lugón, a researcher at the Hospital del Mar and Pompeu Fabra University in Barcelona, said: 'We cannot simply prescribe antidepressants for their positive effects without also considering this side effect.' Depression affects roughly 21 million Americans and anxiety strikes 40 million, making them two of the most common mental health disorders in the country. Selective serotonin reuptake inhibitors (SSRIs), the most common type of antidepressants, whose side effects include weight gain, are prescribed to treat both by increasing levels of mood-regulating hormone serotonin. While today's antidepressants work better and cause fewer side effects than older versions, all still come with downsides — both right away and over time. Common issues include sleep problems, dizziness, digestive troubles, sexual dysfunction, and— critically — weight gain. Unwanted pounds are a top reason people stop taking these medications, forcing doctors and patients to constantly weigh the pros and cons. Dr Víctor Pérez, head of the Psychiatry Department at Hospital del Mar, said that while the drugs are highly effective, 'their effect on weight is not universal, although certain medications, such as mirtazapine and paroxetine, can cause significant weight gain.' Researchers recruited 6,352 adults ages 35 to 79 from northeastern Spain in 2005 and followed them for six years. Participants were divided into four groups based on their antidepressant use: never used, new users starting during the study, quit users (stopped by the time of follow-up) and long-term users who were already on antidepressants when the study started and continued taking them through the six-year follow-up. Nurses recorded each person's weight and height at the start of the study, as well as their diet (using the Mediterranean diet as the standard), exercise habits, symptoms of depression, smoking history, diabetes status and blood pressure. The researchers wanted to focus specifically on the percent body weight gain and the number of new obesity cases characterized by a body mass index (BMI) of 30 or higher. Every study participant gained weight, whether they were taking antidepressants or not, but those who were taking antidepressants gained more. On average, never users gained 0.8 percent of their body weight. Those who discontinued use gained 2.2 percent and new users gained 2.5 percent. Long-term users gained 1.7 percent. This means antidepressant users gained at least twice the amount of weight as those who never took the drugs. Dr Camille Lassale, a researcher at the Hospital del Mar Research Institute, said: 'All individuals taking antidepressants had a higher likelihood of gaining weight and developing obesity. This risk is even greater for those who use these medications continuously.' Experts do not know for sure why antidepressants cause weight gain, but serotonin is the link. Most antidepressant medications, such as Prozac, Zoloft, Effexor, and Cymbalta, alter levels of serotonin in the brain to regulate mood and emotion. SSRIs block the reabsorption of serotonin so that more of this 'good mood' chemical stays in the brain, while serotonin-norepinephrine reuptake inhibitors block the reabsorption of serotonin as well as norepinephrine, an energy-regulating chemical. The neurotransmitter that regulates mood and anxiety levels also acts like a traffic light for hunger. After first starting an SSRI, the brain experiences a boost in serotonin, which reduces impulsivity and increases satiety, leading the person taking the medicine to eat less. But after about a year on the medication, the brain begins to adapt by turning down receptors in the brain that serotonin clings to, creating what is known as serotonin resistance. This causes the body to crave a quick fix in the form of carbs or sweets, which temporarily boost serotonin levels while leading to weight gain over time. Dr Pérez said: 'Due to the risk of patients discontinuing treatment because of weight gain, we must consider alternative therapeutic strategies to complement pharmacological treatment.' But doctors caution against abruptly stopping an antidepressant regimen without the input of a doctor, who typically tapers the patient off the medicine gradually over several weeks to avoid withdrawal symptoms, some of which can be severe. They include flu-like aches, dizziness, mood swings, sleep problems, and 'brain zaps,' referring to feelings of electric shocks shooting through the head.
Local Spain
11-04-2025
- Business
- Local Spain
Why Spain's property prices are rising much faster than in the rest of Europe
New data has shown that property prices in Spain are rising faster than almost anywhere else in Europe. Spain was the second country in terms of price rises across the Eurozone in 2024 - 11.4 percent - behind only the 11.6 percent rise recorded in neighbouring Portugal. For context, in Italy the annual rise was 4.5 percent, in Germany 1.9 percent and in France prices decreased by -1.9 percent. The Eurozone average was 4.2 percent, while in the EU more widely prices grew by 4.9 percent. Even on a quarterly basis, Spain stands out. The increase in Spain during the fourth quarter of 2024 was 1.8 percent compared to the previous three months, when it had been 2.8. However, this still represents a tripling of the quarterly rate for the Eurozone and more than double the EU as a whole, where the increases were just 0.6 percent and 0.8 percent, respectively, according to Eurostat data. Experts point to a number of factors, including Spain's strong economic performance pushing up prices and the underlying structural combination of high demand and low supply in the property market. Domestic economic performance can influence property markets, according to property experts. 'Since the pandemic, the behaviour of housing has been very different from country to country,' José García Montalvo, professor at the Pompeu Fabra University, told El País. 'The dynamics of the economic cycle have a strong influence on the dynamics of housing prices,' he adds. Judit Montoriol, chief economist at Caixabank Research, shares this view: 'In the last year, Spain is one of the places where house prices have risen the most, but it is also a year in which it has stood out very positively as the best performing European economy.' This partly explains why prices in Spain have continued rising in recent years, and are now almost 20 percent more expensive than at the start of 2022 when Russia invaded Ukraine. The inflationary crisis that came from that was experienced across Europe, and yet Spain still stands out for its price rises. Analysis from Bank Inter shows that there are several other contributing factors. Growth in demand for housing, spurred by population growth mainly driven by foreigners, plays a large part. A Bank of Spain report points out that the demand for housing has been driven, to a large extent, by population growth and the arrival of non-residents. It highlights that foreigners now represent more than 20 percent of housing purchases in Spain, reaching a volume of 130,000 units per year. Often they are wealthier foreigners who inflate the market. The average price per m/2 of housing purchased by non-resident foreigners in 2023 was 70 percent higher than that of resident nationals. The other side of the equation is the lack of supply. According to INE data, the construction of new housing remains low in Spain at around 90,000 homes per year. Yet calculations from the Banco de España estimate that Spain will have a shortfall of 600,000 homes by 2025. Experts also point to rapidly rising rents also inflating the property market and putting up prices. In many cities, average rental prices are up by as much as 10 percent year-on-year. Staggeringly, the price rise on room rentals is 90 percent when compared to figures from 2015, according to new data published by property portal Idealista. In many of Spain's provincial capitals, average rents are north of €1,000 per month. Monetary policies at the European level could've also contributed to price increases in Spain because the European Central Bank's interest rate cuts in recent months are another factor driving housing demand. According to the forecasts of Bankinter's Analysis team, the ECB's cuts and the forecast of further reductions will cause the Euribor, the rate tied to most mortgages in Spain, to continue to moderate, easing credit, making buying more attractive and bringing more buyers into the market.
The National
21-03-2025
- Science
- The National
Dubai naturalist has gecko named in his honour in recognition of decades of work
A Dubai lawyer who has spent four decades studying plants and animals native to the Emirates has had a species of gecko named after him. Scientists have named it Feulner's semaphore gecko (Pristurus feulneri) after Gary Feulner. The name is a reference to how it communicates using its tail and body. The gecko is commonly found across the Hajar Mountains in the north-east of the UAE and Oman. Mr Feulner, 77, a US citizen who moved to the UAE in the early 1980s, has chaired Dubai Natural History Group since 1995 and published many scientific studies on the country's animals, plants and geology. He said he was 'very much flattered and honoured' to have the gecko named after him. 'It was nice to know that my work was appreciated,' he said. Mr Feulner, who studied geology at top US universities before switching to law, came to the UAE at the end of 1983 and began hiking in the countryside. 'I explored it thoroughly,' he said. 'I was famous for saying, 'If you go places you haven't gone before, you see things you haven't seen before.' No matter how many times you've been out, if you look carefully you always see something that's new or different. "Not necessarily a new animal or plant, but new behaviour, new phenomena. My weekend hiking activities, and early '80s and '90s desert-exploring activities, I've turned those into scientific results by just keeping records of what I see.' Papers Mr Feulner has written cover subjects as diverse as lizards, beetles, butterflies, toads, fish, snails, wadi grass, geology, mountain ecosystems and climate. He has also written on legal issues. He said he was not 'the only semi-amateur person going around doing interesting things' and described the species being named after him as 'a recognition of the contribution of amateur scientists' to the study of the UAE's natural history. Mr Feulner initially lived in Abu Dhabi and, after a spell away, in the 1990s moved to Dubai, where he continues to live. He spends about two months a year in the US and a similar period helping at a school in Nepal that he sponsors. Prof Salvador Carranza, the senior author of the study in which the gecko is recognised as a species and named, described Mr Feulner as 'an example of dedication to nature preservation and the study of nature in the UAE'. 'Also Gary has been really active in the mountains, in the Hajars he's a specialist,' said Prof Carranza, who is director of the Institute of Evolutionary Biology at Pompeu Fabra University in Barcelona. 'He's been working there for ages, since he started in the UAE many, many years ago. He's really expert in the geology of the Hajar Mountains and a real expert in the natural history of the UAE.' Now that the species has been named after him, Mr Feulner said he would like to uncover what the signals of the gecko meant. 'Maybe with my name on it, I'll go out of my way and spend some time, take a chair with me and find a spot where they're common and see if I can figure out what they're saying to each other,' he said. Another of the authors of the new study, Johannes Els, of the Breeding Centre for Endangered Arabian Wildlife in Sharjah, said naming the gecko after Mr Feulner was "a fitting tribute to his extensive and enduring contributions to the study of natural history in the UAE and northern Oman". "Over several decades, his work has significantly advanced understanding of the region's biodiversity, including reptiles, freshwater fishes, molluscs, insects and flora," he said. Mr Els said "meticulous field observations" made by Mr Feulner had helped map the distribution of numerous reptile species across the Hajar Mountains and beyond, "providing vital data for conservation studies". He also said Mr Feulner had "played a key role" as a mentor and leader among naturalists, and in his three decades chairing Dubai Natural History Group had bridged the gap between amateur enthusiasts and professional researchers. "His efforts to promote public engagement with natural history have ensured that future generations will continue to explore and protect the unique ecosystems of the UAE," Mr Els said. Feulner's semaphore gecko is not the only gecko to call the Emirates home. The National reported previously how the Emirati leaf-toed gecko – Asaccus caudivolvulus – was thought to be on the brink of extinction but a 2022 expedition found the geckos in five locations despite heavy development in the area. Geckos play a vital role in ecosystems because they feed on insects and help to balance the number of species. Last year, The National reported how a number of geckos were able to glow in the dark at night. Bright fluorescence, often found around the eye and around the flanks, was seen in two species, the dune sand gecko (Stenodactylus doriae) and the Arabian web-footed sand gecko (Trigonodactylus arabicus), both of which inhabit very sandy environments with little vegetation. The eastern sand gecko (S. leptocosymbotes) also showed fluorescence, albeit less prominently, around its eyes and on its flanks, while a fourth species, Slevin's sand gecko (S. slevini), had a small amount around its eye.
