Spain Condominiums & Apartments Market Overview
The Spain condominiums & apartments market size was valued at USD 130.40 Million in 2024 and is projected to reach USD 226.33 Million by 2033, growing at a CAGR of 5.80%. Growth drivers include rapid urbanization, increased rental demand, tourism, and foreign investment. Government policies, economic stability, sustainability concerns, and shifts like remote work and infrastructure development also support expansion.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Spain Condominiums & Apartments Market Key Takeaways
- The market size reached USD 130.40 Million in 2024.
- The market is projected to reach USD 226.33 Million by 2033.
- The CAGR during 2025-2033 is 5.80%.
- Housing prices in Spain have steadily increased since 2014, with new homes appreciating faster.
- The average listing price reached EUR 2,182 per square meter in Q3 2024, surpassing the 2007 peak.
- Strong demand and limited supply are driving prices to new highs across regions.
- Modern constructions are preferred due to energy efficiency and amenities.
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Spain Condominiums & Apartments Market Growth Factors
In Spain, rapid urbanization significantly contributes to the growth in the condominiums and apartments market. With higher population density in cities, demand for housing units increases, and especially rented accommodation. Growing tourism fuels both short-term rental markets and investment interest. Capital inflows via foreign investment further enhance real estate development. Government housing policies, such as those aimed at achieving economic stability with affordable housing, further spur expansion within the market.
Sustainability concerns and the growing orientation toward energy-efficient, modern construction projects give rise to new market dynamics. Newly built residential properties have risen in value 8% between 2021 and 2023, whereas existing properties have increased by 3.2%, which signals buyers’ preferences for modern designs and amenities. Infrastructure enhancements and the transition to remote work favor demand for functional and conveniently located housing.
Demographic changes and changing buyer preferences impact house pricing and market growth. Strong and steady demand with limited supply supports the market, driving property prices to record levels. By Q3 2024, property prices per average square meter surpassed the levels attained during the 2007 housing boom. This trend is attractive to both domestic and international investors, underpinning growth prospects in the forecast period.
Spain Condominiums & Apartments Market Segmentation
Type Insights:
- Condominiums: The report provides analysis on condominiums as a key segment, highlighting growth influenced by modern design preferences and sustainability.
- Apartments: Apartments represent a distinct segment with demand driven by rental markets and urban population needs.
Regional Insights:
- Northern Spain: Included as a major regional market segment under study.
- Eastern Spain: Covered in the report with analysis at the regional level.
- Southern Spain: A key region analyzed for market trends and forecasts.
- Central Spain: Included as a significant region within the market assessment.
Regional Insights
The report analyzes Northern Spain, Eastern Spain, Southern Spain, and Central Spain as major regional markets. Property prices reached record levels in several provinces by Q3 2024. The average listing price in Spain rose to EUR 2,182 per square meter, exceeding the EUR 2,115 per square meter peak from 2007. This reflects strong demand and limited supply across these regions, underlining their dominance in driving market growth.
Recent Developments & News
- In February 2025: Spain announced the Golden Visa program, a major stimulus for foreign investment in real estate, requiring a EUR 500,000 property purchase. Demand surged in key cities including Madrid, Marbella, and Alicante. Additionally, in January 2025, Dar Global launched “Marea Interiors by Missoni,” a USD 108 Million premium home project in Finca Cortesin, attracting luxury buyers and reinforcing Spain’s high-end real estate appeal.
Key Players
- Dar Global
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