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The Spanish Parliament has passed a law aimed at controlling property speculators whom the government blames for spiralling house prices.

Official documents will list everybody who has owned any piece of land in the five years before its development.[…]The government hopes that reducing the number of speculators and the degree of corruption will bring down prices. […]

The new law also reserves 30% of future property development for social housing and allows for planning decisions taken over the past two years to be reviewed under certain circumstances.
It will come into force on 1 July. (Source: BBC)

Spain’s economy has been growing strongly in recent years, driven mainly by expansion in the construction industry. […] However, in recent months cracks have started to appear and mortgage demand has slowed as homeownership levels topped 85%. […]

Analysts said that while the current fears of a crash may be over amplified, the Spanish property boom that had provided strong returns for the past eight years was probably over. […]

The worry is that should the suspected property bubble burst, and some analysts estimate that house prices are overvalued by 30%, then many other industries such as banking and retail would also suffer.
(source)