The Spanish real estate sector displays a dynamic of sales volume adjustment alongside sustained price growth, driven by supply at historical lows and new state policies.

1. Market X-Ray: Transactions and Prices

According to data from the General Council of Notaries for July 2025¹:

• Sales: A slight year-on-year drop of 1% was recorded, with a total of 71,550 properties sold².
• Housing Typology: 75% were apartments and 25% were single-family homes³. Apartment sales fell by 3.2%, while single-family homes rose by 6.2%⁴.
• Rising Prices: The average price per square meter rose by 4.9%, reaching €1,910⁵.
• Financing: Mortgages grew by 6% (38,100 transactions), driven by the drop in interest rates. 53% of purchases are financed through mortgage loans⁶.

*Note: The report indicates a figure of €7,440 for single-family homes⁷.

2. Trends by Autonomous Community

Territorial behavior remains mixed. While 11 communities saw sales growth, 6 others suffered significant declines⁸.

• Sales Leaders: Basque Country (+10%) and Balearic Islands (+3%)⁹.
• Sharpest Drops: Madrid (-15%) and Canary Islands (-12%)¹⁰.
• Price Leaders: Prices rose across all 17 Autonomous Communities, led by Madrid (+16%), followed by the Valencian Community (+8%) and Catalonia (+7%).

3. New State Housing Plan 2026-2030

The Ministry of Housing has confirmed a new program to be approved in December 2025¹².

• Investment: Resources will triple, reaching 7 billion euros¹³.
• Financing: The State will cover 60%, while the Autonomous Communities (CCAA) will cover 40%¹⁴.
• Fund Distribution:
  • 40%: Expansion of the public housing stock¹⁵.
  • 30%: Energy renovation and neighborhood rehabilitation¹⁶.
  • 30%: Urgent aid (youth, affordable rent, vulnerable households)¹⁷.

Key Fact: 11 autonomous communities (PP) have already announced they will reject the plan for ideological reasons¹⁸.

4. Featured Projects and Trends

TM Tower: Benidorm’s new skyline leader

The developer TM has unveiled a 230-meter, 64-story residential skyscraper. It will feature 260 homes and over 10,000 $m^{2}$ of communal areas. Delivery is scheduled for late 2028, and 25% is already reserved¹⁹.

Madrid, capital of luxury

Madrid leads the rise in luxury housing prices in Europe with a +6.4% increase, outperforming cities such as Zurich, Geneva, and Berlin²⁰.

The “Express Rental” phenomenon

In Barcelona, 20% of rental contracts are finalized in less than 24 hours, particularly in neighborhoods like Sant Andreu and Horta-Guinardó²¹.

5. The Challenge of Supply and Demand

• Housing deficit: The Bank of Spain estimates a shortage of 700,000 homes to meet current demand²².
• Supply at record lows: Since 2019, the supply of homes for sale has fallen by 39%. Valencia is the most affected city, with a 78% decrease²³.
• Tourist rentals: The removal of 54,000 illegal listings from digital platforms has been requested²⁴.

6. Spain on the International Stage

• AI Investment: Barcelona ranks as the third city in the world for AI projects²⁵.
• Digital Nomads: Malaga is the top European destination for nomad executives.²⁶.
• Longevity: Spain leads life expectancy in the EU (84 years), with Madrid reaching 86.1 years²⁷.
• Economy: Moody’s, Fitch, and S&P have placed Spanish debt in category A. GDP growth of 2.7% is projected for 2025²⁸.