AGP Executive Report

Housing pressure: Rent protests continued in Spanish cities as affordability concerns fuel wider European demonstrations. Spain’s changing housing rules are also reportedly leaving more than 1,500 rental contracts blocked, while over 4,200 homes have been withdrawn from the rental market. Market signals: Foreign home purchases have fallen to their sharpest level since 2020 even as prices climb. In Murcia, the historic centre remains among the city’s priciest areas, while northern new-build districts and outlying neighbourhoods offer different options for buyers seeking modern amenities or more space. Policy proposals: With Spain’s election campaign focused on housing, the PP has proposed eliminating property transfer tax and stamp duty for under-40s buying a first home in rural areas. The Canary Islands government is also proposing a ten-year residency requirement for homebuyers. Urban planning: A Madrid summit bringing together Ibero-American city leaders put affordable housing, metropolitan growth and long-term planning on its agenda.

Market Data: Spain plans new INE indices tracking prices and rents for commercial property, offices and industrial sites, using tax and notarial records. The proposal is still under public review, with no release date set. Rental Rules: Recent housing decrees have left landlords and tenants seeking legal advice on contract terms, rent updates and renewals; their future depends on parliamentary approval. Affordability: Housing protests continue in Spain, with demonstrators in Madrid’s Puerta del Sol demanding action on rents and access to homes. Local Prices: Almuñécar has become the Costa Tropical’s priciest town, with asking prices reaching €3,293 per square metre in September, intensifying pressure on local buyers. Investment: Culmia and Cross Ocean have launched a €400 million residential platform targeting 900 homes in Madrid. Tourist Rentals: Barcelona is proposing to raise property tax on tourist apartments by up to 150%, prompting a threat of legal action from the sector.

Rental Rules: Spain’s latest housing decrees have left landlords and tenants uncertain over contract terms, rent increases and renewals. Law firms report a surge in queries, deals are being delayed and more than 1,500 rental contracts are reportedly blocked as the rules face parliamentary approval. Housing Pressure: Cost and access concerns continue to drive protests, while housing has become a central issue ahead of Spain’s November election. Foreign Buyers: Overseas demand is cooling as prices climb, with purchases in the Canary Islands down 20.3% and the Balearic market shrinking 15.4%. Barcelona Policy: The city proposes raising property tax on tourist apartments by as much as 150%; the employers’ association is threatening legal action. New Homes: Culmia and Cross Ocean have launched a €400 million platform targeting 900 homes in Madrid.

Housing Pressure: Spain’s housing crisis remains a central election issue, with protests and a camp at Madrid’s Puerta del Sol underscoring tenant frustration. Tourist Rentals: Barcelona proposes raising property tax on tourist apartments by up to 150%; industry groups are threatening legal action. Foreign Buyers: Purchases by overseas buyers have reportedly fallen at their sharpest pace since 2020 as prices climb. New Supply: Culmia and Cross Ocean are launching a €400 million residential platform targeting 900 homes in Madrid. Access to Housing: The Canary Islands is seeking permission to restrict overseas buyers and has proposed a 10-year residency requirement; Málaga has raised its residency threshold for social housing eligibility to five years. Spain has just 1.5% public housing, far below the Netherlands’ 34%. Property Risk: New flood maps show 61% more land in Valencia at risk, a warning for owners and prospective buyers.

Housing Squeeze: Spain’s housing crisis is reshaping daily life: in Lanzarote, three families share one home as rents put independent housing out of reach. More than 4,200 rental homes have reportedly been withdrawn, while foreign property purchases have fallen at their sharpest pace since 2020 even as prices keep rising. Tourist Rentals: Barcelona is proposing to raise property tax on tourist apartments by up to 150%, prompting a legal threat from the employers’ association. The Canary Islands are seeking approval to restrict home purchases by people without ten years’ residency; the measure is proposed, not in force. New Supply: Culmia and Cross Ocean have launched a €400 million residential investment platform targeting 900 homes in Madrid, adding a significant planned development to a market short on housing.

Rental Supply: More than 4,200 rental homes have been withdrawn in Spain, as landlords cite government rules and tenants face a shrinking market. Tourist Apartments: Barcelona proposes raising property tax on tourist flats by up to 150%; the employers’ association threatens legal action. Foreign Buyers: Overseas purchases are falling as prices climb, with the drop in the Canary Islands reaching 20.3%. New Housing: Culmia and Cross Ocean have launched a €400 million Madrid residential platform targeting 900 homes. Canary Islands: The government proposes requiring 10 years’ residency before buyers can purchase a home, a move that could further reshape the island property market.

Foreign Demand: Foreign nationals bought 62,327 Spanish homes in the first half of 2026, down 13% year on year; overseas non-resident purchases fell 18%, even as property prices continue to climb. Tourist Rentals: Barcelona has proposed an IBI surcharge of up to 150% for owners with four or more tourist-apartment licences, a measure still awaiting final approval and already facing a legal challenge from the sector. New Housing: Culmia and Cross Ocean are launching a €400 million platform to deliver 900 homes in Madrid, adding investment as Spain grapples with a shortage of affordable housing. Market Access: The Canary Islands has proposed requiring buyers to show ten years’ residency, but the plan is not law; separately, reports say more than 4,200 rental homes have been withdrawn from the market.

Madrid Development: Culmia and Cross Ocean have launched a €400 million residential platform targeting 900 homes across two sites in Madrid and Alcorcón, adding institutional capital to a market facing a chronic shortage of new housing. Valencia Flood Risk: A revised assessment expands mapped flood-prone land by 61%, to 43,779 hectares; proposed changes could affect building rules and future development. Rental Squeeze: More than 4,200 rental homes have reportedly been withdrawn, while estate agencies blame new housing decrees for shrinking supply. Mallorca’s rental market is also described as having “ground to a halt.” Foreign Buyers: The Canary Islands wants a 10-year residency requirement for homebuyers, as foreign purchases there fall 20.3%; the Balearics’ foreign property market has also contracted. Housing Politics: Affordability and eviction protests remain central to Spain’s election debate, putting pressure on parties to address high costs and limited supply.

Housing Crunch: Spain’s housing shortage is shaping the November 29 election, with protests continuing and reports of residents facing extreme commutes to find affordable homes. Spain has only 1.5% public housing, far below the Netherlands’ 34%. Rental Market: Agencies say government housing decrees are prompting small landlords to withdraw homes, shrinking long-term rental supply in the Balearics and intensifying competition for tenants. Foreign Buyers: The Canary Islands have asked Spain and the EU to allow restrictions on overseas home purchases; meanwhile, foreign home sales in the Balearics fell 15.4% year-on-year in the first half of 2026. Holiday Rentals: A new 10% VAT on short-stay tourist accommodation is due from December 1, potentially raising costs for visitors and owners. Construction: Murcia’s economy is forecast to outpace national growth through 2028, with construction employment expected to rise by an average of 3% a year.

Housing Crisis: Spain’s housing shortage is driving protests and shaping the November 29 election. Rents have risen 84% in a decade, with increases of 113% in Málaga and nearly 150% in Marbella; 87-year-old María del Carmen Abascal’s eviction has become a rallying point. Rental Market: Estate agencies say new housing rules are already reducing rental supply, while small landlords are pulling thousands of homes from the traditional market. Mallorca’s rental market is described as having “ground to a halt.” Public housing makes up just 1.5% of Spain’s stock, far below the Netherlands’ 34%. Policy Moves: The Canary Islands are asking Spain and the EU to allow restrictions on overseas homebuyers, while Barcelona is advancing a proposal for a property-tax surcharge of up to 150% on holiday rentals.

Housing Pressure: Housing reached a record 55.7% as Spain’s top public concern, as protests over affordability grow. A general strike is planned for November 11, with a snap election set for November 29. Rental Market: Mallorca property agents say viewings, listings and renewals have stalled amid uncertainty over rental rules; reports also point to small landlords pulling homes from the long-term market. Affordable Supply: Public housing makes up just 1.5% of Spain’s housing stock. Genivs has secured up to €20 million from the state-backed Social Impact Fund to develop 3,000 affordable rental homes for young people on public land. Foreign Buyers: The Canary Islands government is asking Spain and the EU to allow temporary restrictions on purchases by non-resident foreigners, alongside measures to expand affordable housing. Investment: Morocco’s Saham Group has set up a Madrid investment company, broadening its Spanish presence beyond existing property interests in Marbella.

Rental Market: Small landlords are withdrawing thousands of homes from Spain’s traditional rental market amid government decrees, while foreigners now make up more than half of renters. Proposed lease rules could also leave landlords owing tenants up to 12 months’ rent to end a contract. Housing Politics: The crisis is shaping the run-up to Spain’s November 29 election, with protests spreading and unions calling for a general strike. New eviction rules are already halting some cases. Prices & Tourism: Fifteen of Spain’s 25 priciest municipalities are in the Balearics. Barcelona is moving towards a 150% property-tax surcharge on holiday rentals, while a new tourist tax due in December could raise visitor costs. Development: Malaga’s Perchel district is set to gain luxury flats priced above €1 million.

Rental Supply: Estate agents say landlords have withdrawn or diverted 4,235 homes and put 1,523 rental contracts on hold amid uncertainty over proposed housing rules. Lease Protections: A government proposal would require landlords to pay at least 12 months’ rent for ending qualifying leases without a valid reason and give tenants six months’ notice; it still needs parliamentary approval. Tourism and Prices: From December 1, qualifying holiday rentals of 30 nights or fewer will face 10% VAT. Barcelona is also moving toward a property-tax surcharge of up to 150% on holiday rentals. In the Balearics, 15 municipalities rank among Spain’s 25 most expensive; Formentera leads at €10,332 per square metre. Housing Protests: The crisis remains a major election issue, with unions planning a nationwide strike on November 11 as protests continue ahead of the November 29 vote.

Housing and Politics: Spain’s housing crisis is shaping the Nov. 29 snap election, with protests growing after 87-year-old Maricarmen Abascal died following her eviction from her Madrid home. A tenants’ general strike is planned for Nov. 11; parliament has rejected the government’s emergency housing measures. Rental Supply: Spain has lost 393,000 long-term rental homes as landlords reconsider the market, adding pressure to an already tight supply. Tourist Rentals: Barcelona is moving toward a property-tax surcharge of up to 150% on holiday lets, while Balearic owners face a reported €100 million annual VAT bill. On the Costa Blanca, El Verger is studying how holiday homes affect residents and urban development. Development: A Costa del Sol resident warns that new building is outpacing roads, water, healthcare and other essential services.

Housing Crisis: Spain’s housing revolt is shaping the snap election set for November 29. The eviction and later death of 87-year-old Maricarmen Abascal has fuelled nationwide protests, with unions calling a general strike for November 11. Prime Minister Pedro Sánchez is making affordability central to his campaign after parliament rejected housing measures; revised proposals include rent caps, a temporary eviction ban and limits on company home purchases. Holiday Rentals: Barcelona is moving toward a property-tax surcharge of up to 150% on tourist apartments. In the Balearics, a 10% VAT on holiday rentals from December 1 could raise about €100 million a year, though the measure still needs parliamentary confirmation.

Housing and Politics: Spain’s housing crisis is driving the campaign for the November 29 election. Protests intensified after the death of 87-year-old Maricarmen Abascal, whose eviction became a national flashpoint; the government’s housing decrees were rejected in Congress. Eviction Rules: Replacement measures have already paused at least four eviction cases in Alicante, Valencia and Madrid, though protections do not cover every tenant. Rental Supply: Spain has lost nearly 393,000 long-term rental homes since 2018, deepening pressure on rents and availability. A new government rent calculator aims to help tenants check lawful charges. Tourist Lets: Barcelona is moving toward a property-tax surcharge of up to 150% on holiday rentals, adding to efforts to ease housing pressure. Building More Homes: Catalonia now accounts for almost half of Spain’s new protected housing, while Madrid has approved plans for 18,400 subsidized homes by 2028. The Bank of Spain has also warned that housing remains a constraint despite stronger growth forecasts.