A report by OBS Business School on the Real Estate Market in Spain 2025, led by Professor and Eurocofín Director Carlos Balado, highlights some of the trends shaping the property market. Among these, it notes that global warming is influencing the way we live and behave. Beyond efficient home construction, the annual rise in temperatures can also affect property sales.
In this context, a new trend is emerging in the real estate market: due to the average annual temperature, coupled with the growth of green and active tourism, sales have increased in certain regions – particularly the “cooler” areas – since the post-pandemic period.
Which areas are experiencing growth in home sales?
According to the study’s director, Carlos Balado, areas in Spain with cooler climates – particularly those in the north of the peninsula – are seeing higher sales growth than the traditionally hotter, more tourist-oriented provinces, such as Catalonia. Could this shift affect property values in other regions?
Balado reports that sales are increasing by over 25% annually in Lugo and Pontevedra, and by between 15% and 20% along the Asturian and Cantabrian coasts, as well as in Navarre, Vizcaya, Orense, Álava and La Coruña. By contrast, growth was below 15% in cities such as Murcia, Alicante, Valencia, Málaga, Cádiz, Barcelona, Tarragona and Girona.
“Coastal areas and some inland cities across Spain are experiencing strong demand and will continue to grow,” says Carlos Balado. “However, what has happened in the northern regions is that places previously less popular with foreign buyers and tourists are now entering the market with considerable force.”
According to the expert, these areas are experiencing rapid growth because their market base is much smaller than that of traditionally sought-after regions. They benefit from a competitive advantage, with average summer temperatures around 20°C, compared with 30°C – and occasionally 40°C – in Spain’s most tourist-heavy areas. “Temperatures also remain moderate throughout the rest of the year,” he adds.
In addition, some of these regions tend to have lower average property prices. “Prices are often below €2,000 per square metre, compared with around €4,000 per square metre in Spain’s priciest areas, such as Madrid, Catalonia, the Canary Islands, the Balearics and the Basque Country,” he notes.
Catalonia and global warming in real estate
The professor emphasises that foreign demand for coastal properties remains strong, noting that “Catalonia is one of the most sought-after destinations.” Data from the Q1 2025 supports this, showing that total sales there are “almost ten times higher than those recorded in the Principality of Asturias, one of the regions with the highest percentage growth.”
Is moving to cool areas a growing trend?
It is a clear trend, although Balado urges caution. “We will have to wait and see whether this buyer behaviour continues over the next few years to determine if these choices become habitual and form a pattern.”
For now, the expert sees a sign of change. Considering ongoing factors such as high temperatures, demand is expected to keep growing.
“Moreover, with the Spanish population projected to increase over the next fifteen years, Catalonia – and Barcelona in particular – will face a larger market and stronger competition, which was less pronounced before the post-pandemic period.”