Spain housing deficit could reach one million units by 2028

housing deficit real estate market Banco de España public housing tenders urban land prices

The Banco de España has warned that Spain's housing deficit could exceed one million units by 2028. According to Deputy Governor Soledad Núñez, an estimated 755,000 homes have been missing from the market since 2021, a gap that could expand by an additional 300,000 units between 2026 and 2028 due to insufficient supply failing to meet demographic demand.

Real housing prices have accelerated to levels comparable to those seen in 2005. This trend is compounded by rising urban land costs; prices reached 207.8 euros per square metre in the second quarter of 2026, a 15.3% year-on-year increase. Growth is particularly concentrated in major urban centers, where land prices have surged significantly.

In response to the supply shortage, public housing tenders have seen a substantial increase. Between January and July 2026, tenders for family homes reached 1,065.2 million euros, a 52.7% increase compared to the same period in the previous year. In July alone, tenders totaled 181.4 million euros, marking an 11.3% year-on-year rise.

Entities

Banco de España · Bank of Spain · Ministry of Housing · Ministry of Housing and Urban Agenda · Ministry of Transport and Sustainable Mobility · Soledad Núñez · Spain · Universitat Politècnica de Valencia

Claims

What the coverage asserts, and how many sources carry each claim.

[● 8 SOURCES] Spain has an estimated housing deficit of 755,000 units accumulated since 2021. inmodiario.com · www.laregion.es · spanjevandaag.com · www.upday.com · www.expansion.com · +2 more
[● 7 SOURCES] The total housing deficit in Spain is projected to reach approximately one million units by 2028. inmodiario.com · www.laregion.es · spanjevandaag.com · www.upday.com · www.expansion.com · +1 more
[○ 1 SOURCE] Public housing tenders for family homes reached 1,065.2 million euros between January and July 2026. www.ejeprime.com
[● 7 SOURCES] The housing deficit could increase by 300,000 units between 2026 and 2028. inmodiario.com · www.laregion.es · spanjevandaag.com · www.upday.com · www.expansion.com · +1 more
[○ 1 SOURCE] Urban land prices rose 15.3% year-on-year in the second quarter. www.surinenglish.com
[○ 1 SOURCE] Urban land prices in Spain reached 207.8 euros per square metre between April and June. www.surinenglish.com
[○ 1 SOURCE] Public housing tenders in Spain reached 181.4 million euros in July, an 11.3% year-on-year increase. www.ejeprime.com
[● 6 SOURCES] Real housing prices have accelerated to levels comparable to 2005. inmodiario.com · spanjevandaag.com · www.expansion.com · www.informacion.es · www.upday.com