Spain's housing stock sees sharpest annual drop of 16%

The number of homes available for sale fell by 16% in Q1 of 2025 compared to the same period in 2024, according to a study published by idealista, the Southern European property marketplace. This marks the steepest year-on-year decline since idealista began compiling data in 2000.

All provincial capitals now have fewer homes for sale than they did a year ago

The sharpest decline was recorded in Oviedo, where housing supply fell by 42%. This was followed by Burgos, A Coruña and Zaragoza, each with a 39% drop. Logroño saw a 37% reduction, while Cuenca recorded a 33% fall. Vitoria and Seville both experienced a 32% decrease, and Ciudad Real, Teruel and Albacete each saw a 31% decrease in supply.

Among the major property markets, significant decreases were also noted in Madrid, where supply dropped by 29%, and in Bilbao, which saw a 26% decline. In Valencia, the number of homes for sale was 23% lower than a year earlier – a steeper fall than those seen in Barcelona and Palma (both -22%), Alicante (-20%) and San Sebastián (-17%). Málaga registered the smallest decline, with stock down by just 2%.

Zaragoza, Vizcaya, Madrid and Asturias are where the supply of used housing has fallen the most

At the provincial level, the trend over the past year has been similarly marked by widespread declines in housing supply. The sharpest drop was recorded in the province of Zaragoza, where available stock fell by 32%. This was followed by Vizcaya (-30%), Madrid and Asturias (both -29%), Álava (-28%), Burgos (-26%), and both Cantabria and Valencia, each with a 25% decrease. In the province of Barcelona, the supply declined by 17%.

Badajoz (-2%) and Girona (-3%) experienced the smallest reductions in housing stock over the past 12 months. They were followed by Cáceres (-6%), Málaga and Jaén (both -7%), and Alicante and Lleida, each with a 10% drop.

According to Francisco Iñareta, spokesperson for idealista, “Once again this quarter, we are witnessing a record decline in the number of homes available for sale. The undeniable strength of demand is being met by a supply that not only fails to keep pace but continues to shrink month after month. The pressure created by this imbalance is driving sharp price increases, with year-on-year rises exceeding 20% in Madrid, for example. Unfortunately, this tension is likely to persist in the coming months, as there are no signs of a short-term surge in supply. That said, efforts to accelerate the development of large-scale new housing projects in the medium term are a positive step.”