SPAIN’S booming property market is continuing to go from strength-to-strength after the number of property sales reached a historic high last year.
According to figures released by the National Statistics Institute (INE), more than 700,000 homes were sold in Spain for the first time since the pre-financial crash peak of 775,300 sales in 2007.
In total, 714,237 property transactions took place last year – an 11.5 per cent increase on the number of home purchases in 2024.
The record-breaking statistics come despite a lukewarm December for property purchases where just 54,148 transactions were signed off – although numbers are usually lower then thanks to the Christmas holidays.
That monthly figure is well below the average of more than 60,000 property sales per month for the remainder of the year.
According to many experts, the sharp increase across 2025 can be explained away by the stagnation of the crisis years and insufficient supply compared with demand.
“Demand is very active and the available product is limited. That is the real key to this cycle – everything or almost everything on the market is being bought,” said real estate consultant Iñaki Unsain.
Miguel Angel Gomez, president of the Federation of Real Estate Company Associations (Fadei) said: “As soon as a flat goes on sale, it sells and that is due to the lack of stock and demand that remains very active.
“Despite a turbulent geopolitical context, this financial year has seen very high levels of activity thanks to economic factors such as low employment, a great need for housing and favourable conditions for access to credit.”
Ferran Font, director of research at real estate portal Pisos, pointed towards ‘the combination of accumulated savings, still favourable financial conditions and expectations of further price rises’ as a reason for the historic number of property sales.
He added: “The data confirms that 2025 has been an extraordinary year. After a very dynamic 2024, the market has not only held up, but has intensified its activity.”
In total, the number of property sales has doubled over the past decade.
More recently, the numbers have leapt by more than 22 per cent since 2023.
Although the number of transactions has risen to levels last seen during the pre-financial crash property bubble, experts say the growth is different and would-be homebuyers should not expect a sharp downturn in the near future.
Font explained: “The current volume puts us at levels not seen since the period prior to the property bubble, but with one substantial difference: today’s growth is based on much more prudent mortgage lending criteria and a more solent buyer profile.”
At a regional level, Andalucia lays claim to the number one spot thanks to a whopping 143,794 property sales across the whole of 2025, followed by Catalunya (112,585), Valencia (110,591) and Madrid (81,681).
At the other end of the scale, La Rioja lags behind the rest of mainland Spain with just 5,607 property sales taking place last year – although that represents a 16.3 per cent increase on 2024’s figure.
In terms of percentage increase Castile and Leon leads the way with an 18.9 per cent growth from 2024, followed closely by Castile-La Mancha on 17.8 per cent.
According to the INE, more than 78 per cent of property sales in 2025 involved second-hand homes – although the purchase of brand-new properties surged by 16.1 per cent compared to 2024.
Click here to read more Spain News from The Olive Press.
