The sale of homes without vacant possession is becoming increasingly common in the Spanish property market, now accounting for 3% of all properties for sale in the country, according to a study by idealista based on listings in its database for Q3 2025.

In 2023, Pozuelo de Alarcón (Madrid) retained its position as the Spanish town with the highest average declared gross income for the fifth consecutive year, reaching €88,011 – a 3.2% increase on 2022.

When planning a move, high-net-worth individuals tend to favour cities over coastal or mountain locations. According to the latest Knight Frank survey, the services and lifestyle offered by European cities are particularly appealing to wealthy movers. Capital cities such as Lisbon and London top the list, with Madrid and Barcelona also featuring in the top five. Beyond urban centres, the Balearic Islands stand out, alongside the Algarve, Tuscany and prime areas of the Alps.

In August, the average price of second-hand homes for sale in Spain rose by 14.8% year-on-year, reaching €2,498/m² – the highest level since idealista began recording data.

Soaring rents and fierce competition are pushing many people towards room rentals. On average, 22 prospective tenants compete for each listing on idealista, though demand remains lower than for full homes. Palma (65) and San Sebastián (62) record the most enquiries per room, while among the largest markets, Barcelona (22) edges ahead of Madrid (20).

Rental properties in the Balearic Islands (29.1%), Alicante (27.4%), Málaga (25.7%) and Santa Cruz de Tenerife (21.9%) are seeing strong international demand, each accounting for more than 20% of total rental interest in Q1, according to a study by idealista.

The British remain the largest group of foreign homebuyers in Spain, but interest is growing among citizens of other countries, including Germany, France, the Netherlands and Italy, particularly for properties on the Mediterranean coast, the main draw for foreign buyers.

Forty-nine of Spain’s 50 provinces have at least one home listed on idealista for over €1 million, though the distribution is highly uneven. Málaga, the Balearic Islands, Madrid, Alicante, Barcelona and Girona alone account for 84% of all such properties. In many provinces, with fewer than 22 listings, their share is so small that it rounds down to 0.0%.

Thirteen per cent of the homes sold through idealista in the second quarter of 2025 found a buyer in less than a week, according to a study by idealista, Southern Europe’s leading real estate marketplace.

The Balearic Islands, Costa del Sol and Costa Brava have long been Spain’s top destinations for luxury second homes, attracting wealthy foreigners seeking a getaway. Recently, Costa Blanca in Alicante has joined their ranks, with towns like Denia and Jávea offering a wide range of premium properties. According to Engel & Völkers, high-net-worth buyers from Germany, the Netherlands and Switzerland now see this region as one of their most exclusive options.