The Social Function of Property and the Housing Crisis: The Evolution of Ownership Regime in Spain

Abstract The classical liberal view of property as an absolute and perpetual right has been adapted to the demands of the social function. The social function of ownership explains why not all assets are subject to the same rules and principles. In recent times, the concept of the social function of property has particularly focused on access to housing. In Spain, constitutional recognition of the social function has resulted in a substantial set of restrictions, often highly complex, that prioritise a particular idea of the public good through obligations over the individual rights inherent in ownership. In addition, under pressure from the housing crisis, Spanish housing legislation has introduced a highly restrictive regime designed specifically for ‘large property holders’. Therefore, the legal status and content of ownership are no longer determined solely by the nature of the asset but are fundamentally determined by the owner’s identity.