We ended up paying the same price for relatively similar flats, but in BCN that's much harder to achieve, and they are older and need renovation - and there are thousands of AirBnB slumlords buying up everything.
So yeah, the price increases have been a problem (and hit me badly combined with the interest rate increases) but it's still better than most of Western Europe.
Heavy taxation on NPD (non-primary domicile) housing solves this by itself. It's just that convincing people this is in their best interest will take a lot of effort - not to mention that there's a fairly ubiquitous problem of local politicians being in the pockets of property developers in the areas where these problems are at their worst.
People still believe that their home is a good investment, without any thought given to who's going to buy it from them later or where that person will be getting the financing.