Madrid. In 2025, the construction of new homes in Spain was oriented towards a profile of buyer with purchasing power, rather than addressing the lack of housing in populated areas, according to Tinsa’s annual report. The report indicates a worsening of access difficulties in cities and tourist destinations, as well as an increase in prices over the last year that exceeds 10%, with Tenerife surpassing 20%. This is observed in areas of the Mediterranean arc, the northern coast, and the metropolitan regions of Madrid and Barcelona. The pace of construction is restricted, partly due to a lack of labour, which has led to the production of new works remaining at low levels. At the same time, demand continues to rise, driven by population growth in Spain since 2021, primarily through immigration. The majority of demand is focused on the second-hand market, where the price increase has widened the gap with the average salary. Tinsa’s analysis reveals that transactions of new homes are at the lowest recorded levels, although there was an increase of 3.8% in 2025, which has resulted in a supply deficit over the past five years.
New housing is focused on high-end demand and not on alleviating shortages, according to Tinsa.
