Spain’s housing supply has dropped by 69% since 2019, with stocks in key cities like Valencia and Bilbao plummeting, according to a new idealista study. Discover how these property shortages are driving up home prices across Spain’s provinces and capitals.
Spain’s Housing Supply Shrinks by 69% Since 2019, Sparking Property Price Surge
The Spanish real estate market is experiencing unprecedented tension, with the housing supply plunging by a staggering 69% since 2019. According to the latest study by leading real estate portal idealista, the gap between supply and demand in Spain’s property market has only continued to widen, resulting in persistently rising home prices across the country.
Nationwide Reduction in Available Homes for Sale
The study reveals that since the high point reached in Q2 2019, the supply of homes available for purchase has contracted by 39%. However, the year-on-year statistics indicate a much sharper long-term drop across Spanish provinces and capital cities. Nearly all Spanish capitals—45 out of 52—have seen their property stock cut in half or more, a trend that has exacerbated affordability issues and transformed real estate market dynamics.
Valencia, Segovia, and A Coruña See Steepest Reductions
Valencia has been hit hardest, with a dramatic 78% reduction in available housing since 2019. Segovia and A Coruña followed closely behind, both reporting a 77% decrease. Among Spain’s largest real estate markets, both Seville and Bilbao have suffered significant drops (67%), while Alicante and San Sebastián aren’t far behind, each with a 66% reduction.
The capital city least affected by this decline is Jaén, where the number of homes for sale dropped by 29%, signaling that while the trend is national, some local markets have been less impacted.
Provincial Declines Less Intense, with Key Regional Variations
Within Spain’s provinces, the pattern of decreasing housing supply is slightly less severe, with only 23 provinces experiencing a drop of 50% or more. Vizcaya and Álava top the list, both clocking in declines of 70%. Following these are Segovia (67%), Guadalajara (66%), Cantabria (66%), Navarra (65%), and both Valencia and Huesca at 64%.
Madrid province’s supply has been reduced by 60%, mirroring national trends in urban hubs, while Barcelona’s fall was less steep at 34%.
Bright Spots: Alicante and Jaén Weather the Storm
Some parts of the country have managed to retain more of their housing inventory. Notably, the province of Alicante has seen only a 17% drop, with Jaén at 19%. Smaller reductions were also observed in Cáceres (20%), Malaga (27%), Murcia (31%), and Granada (32%).
What Does This Mean for Spain’s Real Estate Market in 2025?
With such a drastic depletion of housing supply, property prices in Spain continue to rise, placing further financial pressure on homebuyers and investors. This extended shortage is expected to keep the real estate sector competitive, especially in sought-after cities like Valencia, Seville, and Bilbao.
Industry experts suggest that until new construction catches up with demand or market conditions shift, buyers should expect high competition and limited choices across much of Spain.
As the housing shortage becomes a defining issue in Spain’s real estate market for 2025, both buyers and sellers must adapt their strategies to succeed in an increasingly constrained landscape.
For ongoing updates on Spanish real estate trends and housing supply news, stay tuned to our daily news updates.
