Spain housing deficit will hit 794,000 units as nomads face stricter screening

Spain’s housing gap keeps widening

Spain’s housing deficit has climbed to more than 730,000 homes since 2021, according to CaixaBank Research and the Bank of Spain. Construction hasn't kept pace with household growth and official estimates put completions at 91,896 units in 2025 against 226,000 new households.

The shortage is heaviest in Madrid, Barcelona, Valencia, Alicante and Murcia. CaixaBank says nearly half the gap is concentrated in those provinces, where new supply covers only a small share of demand.

Nomads and expats feel it first

Foreign arrivals have added pressure. Spain’s National Statistics Institute says 2.3 million foreign-born residents arrived in 2023 and 2024, while total foreign residency reached 9.5 million by early 2025.

For digital nomads, expats and long-term renters, that means tighter competition, higher rents and more screening from landlords. In Barcelona and Valencia, agencies often ask for a local work history or stronger proof of income before signing.

What renters should expect now

Barcelona’s planned 2028 ban on tourist apartment rentals and the government’s España Crece fund are meant to push more housing into the long-term market, but relief will take time. BBVA Research says the national deficit could grow to 794,000 homes by 2027 if construction stays behind demand.

Nomads looking for housing in Spain should expect higher upfront costs, stricter paperwork and fewer available leases in the biggest cities. Read our full Spain guide for the complete picture and check visa updates for the latest policy shifts.