Bank of Spain expects a housing shortfall of 1 million homes by 2028

Spain is not building homes fast enough to keep up with demand, according to the Bank of Spain.

It expects the housing shortfall to reach 1 million homes by 2028.

A shortage of workers and ready-to-build land, along with slow planning and other construction obstacles, are holding back new homes.

The bank will study the government’s housing measures and their effects on rents, home sales and public spending.