Nearly half of those searching for a home on the market are focusing on properties priced up to €210,000, according to a recent relative demand study conducted by idealista during the last quarter. A significant portion of residential stock in the provincial capitals falls within this price range. However, in cities such as Madrid, San Sebastián, Seville, Palma and Vitoria, where property prices tend to be higher, strong demand pressure extends to homes valued at up to €300,000.
The demand for purchasing homes in Spain continues to grow, while the availability of properties on the market is diminishing. In Q3 2024, the number of homes for sale dropped by 10% compared to the same period last year. Most provincial capitals across Spain now have fewer homes on the market than they did a year ago.
At a national level, the highest demand pressure is observed in the price ranges of homes up to €210,000, and particularly up to €180,000 in almost all provincial capitals, according to data from idealista/data.
In 32 provincial capitals, demand for homes up to €180,000 is strong across all five price ranges analysed, with notable interest in cities such as Barcelona, Valencia, Zaragoza, Las Palmas de Gran Canaria, Murcia and Bilbao.
However, in other cities, the price ranges are broader, mainly due to higher property prices. In Alicante and Almería, there is substantial demand for homes priced up to €240,000, while in Córdoba and Vitoria-Gasteiz, high demand extends up to €210,000.
In capitals such as Madrid, high demand does not emerge until property prices reach €120,000, remaining strong up to €270,000. In contrast, in San Sebastián, there is virtually no supply below €90,000, while demand pressure remains high up to €300,000.
In Cádiz, Málaga and Seville, high demand begins at €60,000 and continues up to €210,000. The same pattern is observed in Palma de Mallorca.
For properties priced between €300,000 and €360,000, demand remains moderate, although it is beginning to decline in 15 cities where prices are more affordable and supply is limited, such as Ávila, Burgos, Jaén, Oviedo and Tarragona.
In the remaining capitals, demand remains at an average level of up to €420,000, although only 20 cities maintain this pattern. These cities tend to be the most populated and, consequently, the most sought-after.