In February, the city of Barcelona stepped in to buy a landmark apartment building to prevent its tenants from being evicted. For years, the real estate firm that owned the Casa Orsola, a grand seven-floor tenement, had plans to convert its units into more profitable medium-term rentals — a common practice that allows landlords to skirt rent control regulations. The buyout represents a notable victory in the city’s long struggle with overtourism and housing affordability.
Other European cities have also pursued a similar strategy to rein in gentrification, including Berlin. Reactions have been mixed, with tenants and some housing activists welcoming the move and opponents warning of negative economic consequences, Feargus O’Sullivan reports. Today on CityLab: Why Barcelona Bought the Building That Symbolizes Its Housing Crisis