Imofolio

Spain · report

Empty homes in Spain

14.4% of the 26,623,708 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
14.4%
Empty homes
3,828,307

Where homes stand empty in Spain

Share of homes standing empty at the 2021 census, emptiest first.

The 2021 census counted a dwelling as vacant when it used almost no electricity through the year and nobody was registered in it, from administrative records rather than a visit. Second homes are counted apart and are not included. Municipalities under 1,000 inhabitants are published only as their province's total.

Other reports for Spain

Asking prices have an 80% chance of landing between €3,001/m² and €3,338/m² by September 2027.

Expected, September 2027
€3,170/m²
Chance of a rise
97%

At the average appraised value, a 90 m² home costs €211,950. With 10% down and a 30-year mortgage, the payment is €808 a month. Spain sets no cap on the payment; lenders must assess each borrower's solvency.

Payment, two incomes
24%
Payment, one income
49%

In Q2 2026, sellers asked 22.2% more than appraisers valued homes at. A year ago the gap was +14.3%.

Gap today
+22.2%
Change in a year
+7.9 pp

42.5% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
146,376
Per 1,000 residents
3.0

Buyers living abroad bought 7.0% of the homes sold here in the four quarters to Q2 2026.

Bought by buyers abroad, 12 months
7.0%

Appraised values have fallen by 3% or more 2 times since 1995. The deepest began in Q1 2008.

Deepest fall
−30.7%
Recovery from the low
132 months

In 2024 the population grew by 510,212 while 97,837 homes were finished: 5.2 new residents for every new home.

New residents per new home, 2024
5.2
Population change, 2024
+510,212

In 2025, 16% of the homes authorised were in existing buildings: conversions, extensions and changes of use.

Homes in existing buildings, 2025
16%

Public bodies signed €771.7M of housing works here in 2025, and €2.4B since 2017.

Signed in 2025
€771.7M
Per resident, 2025
€16