How the Spanish Real Estate Market Has Changed


Summer is not only a time for vacations and sunny days, but also an active time for the real estate market. Spain, with its picturesque coasts and historical cities, attracts many investors and buyers. Let’s take a look at what changes have occurred in the Spanish real estate market during the summer of 2023.

1. Influence of Airbnb on the rental market

With the arrival of summer, many property owners decide to rent their properties through platforms like Airbnb. This has led to an increase in the offer in the short-term rental market, especially in popular tourist regions such as the Costa del Sol and Barcelona. However, this has also led to an increase in competition among owners, leading to a change in pricing policy and rental conditions.

2. Price increase in popular tourist regions

The summer season is traditionally considered “high” for the tourism industry, affecting the rise in property prices in popular tourist regions. This is especially true for luxury properties on the coast. However, many investors see this as an opportunity for short-term investments, expecting a further price increase.

3. Investment potential in inner regions

While the Spanish coast attracts most tourists, the country’s inner regions are becoming increasingly popular among investors. These regions offer more affordable prices and great growth potential. In addition, with the development of infrastructure and improved transport accessibility, Spain’s inner regions are becoming increasingly attractive to tourists.

4. Ecological trends and sustainability

Given the global ecological challenges, more and more buyers and investors are paying attention to ecologically sustainable properties. This trend continued during the summer of 2023, with an increase in demand for “green” homes and apartments. These properties are not only ecological but also economical, making them especially attractive for long-term investments.

5. Market prospects for the autumn-winter period

After the active summer season, the Spanish real estate market is preparing for new challenges. The autumn-winter period is traditionally considered less active, but it is also a time for strategic planning and searching for new investment opportunities. Many experts believe that it is during this period that the most profitable offers on the market can be found.


The summer of 2023 has brought many interesting changes to the Spanish real estate market. From the rise in popularity of Airbnb to ecological trends, the market continues to evolve and adapt to new challenges and opportunities. However, despite all the changes, Spain remains one of the most attractive destinations for investing in properties in Europe.

График роста инвестирования в недвижимость в Испании

Property trends in Spain for 2023

After one of the best years in history, Spanish property is showing signs of slowing down towards the end of 2022. In September, for example, 57,333 properties were sold in Spain, which is 6.9% more than last year. This is the best result since 2007. However, analysts point to this as a change from the double-digit gains seen in previous months and see it as a slowdown, not a sharp decline.

Cities and regions

The capital of Spain and one of the leading financial centers in Europe. Madrid attracts investors due to its cultural heritage, high quality of life and stable growth in property prices.


The largest port and the second largest city in Spain. Barcelona is known for its architecture, art and tourism, making it an attractive place to invest in residential and commercial real estate.


The third largest city in Spain, Valencia attracts investors with its beaches, culture and scientific institutions. The real estate market here continues to grow, especially in the short-term rental sector.


Seville, the capital of Andalusia, is known for its history and culture. The real estate market here is stable, with good investment opportunities in residential properties and hotels.


Bilbao is the industrial and cultural center of Northern Spain. The city attracts investors with its museums, architecture and strong growth in the commercial real estate sector.


Malaga is a popular tourist city in southern Spain. Investors are finding opportunities here in the short-term rental and holiday home sector. In the 3rd quarter of this year, 10,919 transactions were made on the Costa del Sol, which increases the annual total to 41,898, an increase of 39.6%.


Granada is known for its university and historical monuments. The city offers investors opportunities in the student housing and tourism sector.

Zaragoza, Cordoba, Toledo and Cadiz

These cities also offer unique opportunities for investors, including cultural monuments, tourist attractions and a stable real estate market.

Forecasts for 2023

  • Sales: Analysts predict that there will be fewer real estate transactions in Spain in 2023. After an expected 600,000 this year, there will be around 550,000 next year.
  • Prices: Latest data points to an 8% increase in property prices this year. On the Costa del Sol, prices rose 11% YoY to Q3, with resale prices rising 13.5%. However, prices are expected to fall by 1-3% in 2023.
  • Inflation: The Bank of Spain forecasts Spanish inflation to halve next year and expects it to be around 4.4%, half the current rate.

Practical advice for potential buyers

  1. Define your needs: Understanding what you are looking for in real estate will help you narrow down your search and save time.
  2. Research the market: Understanding current prices and trends in your area of interest will help you make an informed decision.
  3. Hire a Local Agent: A local real estate agent knows the market and can help you find the best deals.
  4. Check legal aspects: Make sure you have all the necessary documents and permits before making a purchase.
  5. Consider financing: If you’re considering taking out a mortgage, research your options ahead of time so you have the best terms.
  6. Visit the property live: If possible, visit the property live to make sure it meets your expectations.
  7. Get a valuation: Having a professional valuation can help you make sure the price is in line with market value.
  8. Plan for the future: Review your long-term plans and make sure the property you choose fits your future needs.

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