The second-hand property market in Spain is experiencing a sharp contraction. According to our latest research, the supply of housing has dropped by 23% in the country's main cities when comparing data from September 2023 to September 2024. This trend affects both large capitals and medium-sized cities, creating a scenario of increasing scarcity throughout the territory.
Madrid and Seville lead the fall in stock
The reduction in supply has been particularly pronounced in Madrid and Seville, with drops of 32% y 31%respectively. In the capital, the stock has risen from 20,957 dwellings in September 2023 to 14.269 in 2024, reflecting the high demand and lack of new properties available. Seville has also experienced a drastic reduction, with only 3,476 dwellings on the market, as opposed to the 5.018 available in the previous year.
But they are not the only cities affected. Valencia has seen its offer reduced by 30%from 5,856 dwellings in 2023 to 4.112 in 2024. At Barcelonathe decrease has been 21%with the stock falling from 15.539 a 12,273 dwellings. These falls reflect the high demand and slower turnover of properties in large cities, making it more difficult for second-hand buyers to access housing.
Activum.es at 10/2024. Different portals in the real estate sector have been studied in order to draw up this map.
Smaller cities not escaping the trend
The phenomenon is not limited to large capital cities. Smaller cities are also seeing significant falls in their second-hand housing stock. At Cordobasupply has been reduced by 22%from 6.844 a 5,363 dwellingswhile Granada has seen a decrease of 23%with only 4,370 dwellings available in 2024, compared to 5.700 of the previous year.
On the coast, Málaga has experienced a more moderate reduction of 15%down from 4.621 a 3,949 dwellingswhile in Balearic Islandsthe stock has decreased by 16%of 6.319 a 5,298 dwellings. In the north, Bilbao has seen a significant drop in the 26%with its stock shrinking from 3.124 a 2,315 dwellings.
Price rises: a direct impact
This fall in supply has led to a general increase in prices in many of these cities. At Madridthe price per square metre has increased by 16,84%from 4.037€/m² in 2023 to 4.717€/m² by 2024. This increase reflects the growing pressure on the market in the capital, where demand remains strong and supply is increasingly limited.
Málaga has recorded the highest price increase in the whole country, with an increase of 16,91%reaching 3.069€/m²The city's continued attractiveness to both national and international buyers is a clear indication of this coastal city's continued appeal. At Valenciaprices have risen by 15,78%reaching 2.664€/m²This confirms the growing popularity of this Mediterranean city.
BarcelonaAlthough it has seen a smaller fall in stock, it has also seen an increase in prices. The cost per square metre has risen by 8,98%and is located in 4.505€/m²while in Balearic Islandsprices have increased by 9,29%reaching 4.272€/m².
Cities such as Sevilla y Bilbao have also experienced price rises. In Seville, the cost per square metre has risen by 7,73%reaching 2.354€/m²in Bilbao, while in Bilbao the increase has been of 6,02%reaching the 3.383€/m².
Activum.es at 10/2024. Different portals in the real estate sector have been studied in order to draw up this map.
