Spain’s housing market continues to grow at a strong pace, yet the Bank of Spain sees no signs of a speculative bubble. In its latest annual report, the central bank highlights solid household finances, stable lending conditions and a chronic housing shortage as the key forces shaping today’s market. For buyers, sellers and investors, the outlook remains one of long‑term stability and sustained demand.
Spain’s Supreme Court has struck down the National Register for Tourist Housing (NRA), ruling that the central government overstepped its authority by imposing a unified system on a sector controlled by the autonomous regions. While the decision removes the national ID requirement for short term rentals, it preserves the state’s role in data coordination and platform oversight. The ruling marks a pivotal moment in Spain’s housing policy, reinforcing regional autonomy while reshaping how tourist accommodation is monitored and regulated.
Spain’s biggest cities are entering a new phase in their housing cycle. Fresh Q1 2026 data shows a sharp rise in listings in Madrid, Valencia, Barcelona, Sevilla and Málaga — not because new supply is flooding the market, but because homes are taking longer to sell. With prices at record highs and affordability deteriorating, buyers are stepping back, leaving more properties sitting on the market and signaling the first real cooling in years.
Málaga’s housing market closed 2025 at historic highs, driven by intense demand, limited supply, and strong international investment. With resale prices soaring to 4,364 €/m², the province solidified its position as one of Spain’s most competitive and expensive real estate destinations.
Marbella’s property market enters a new era of transparency. For the first time, buyers and investors can access official notarial data showing real transactions — not just advertised prices. The latest report reveals rising values, strong international demand, and a clear dominance of apartments, confirming Marbella as one of Europe’s most dynamic real estate destinations.
Spain’s government has launched a new Tourist Housing Observatory to study how short-term rentals and tourism affect the housing market. The goal is to balance Spain’s booming visitor economy with residents’ quality of life — a move that could reshape property investment and rental rules in areas like Marbella and the Costa del Sol.