MADRID (AP) — Thousands of people rallied in central Madrid on Sunday against spiraling housing costs that have priced many Spaniards out of the housing market despite a recent economic boom, particularly in cities such as the country’s capital and Barcelona.

Spain’s housing crisis is one of Socialist Prime Minister Pedro Sánchez ’s main political vulnerabilities ahead of elections in 2027.

The country has a strong tradition of homeownership and scant public housing for rent, while rents have been driven up by increased demand, including due to tourism and population growth linked to immigration, analysts say.