The 2024 National Yearbook presents a detailed snapshot of the Spanish real estate market in a context of economic recovery. The Spanish economy grew by 3.2% during the year, reaching record employment figures (more than 21.8 million people) and reducing the unemployment rate to 10.6%. This improvement has fostered a favorable environment for the real estate sector, with price stability, falling interest rates, and growing demand.
Home sales increased by 9.2%, with a total of 636,909 transactions. New housing stood out with a 21.6% growth (131,764 units), reflecting increased development activity: more than 112,000 homes started and nearly 87,000 completed. Investment in housing continues to be perceived as a safe haven against the volatility of other assets.
In contrast, the rental market remains the main challenge. The number of contracts and available supply have decreased, pushing up prices and making it difficult for many households to access housing. This tension is accentuated by population growth: more than 459,000 new residents are expected in 2024, mostly of foreign origin, which has driven the creation of more than 145,000 new households.
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