Spain housing crisis deepens as supply deficit nears 750,000 units

housing crisis rental market construction deficit evictions real estate policy

Spain is facing a severe structural housing crisis characterized by a significant supply-demand imbalance. The Bank of Spain estimates that the accumulated deficit since 2021 has reached approximately 750,000 to 755,000 homes. Without a change in the current pace of construction, the deficit could exceed one million units by 2028.

While the number of building permits has increased in some regions like Vigo, actual construction is being stifled by rising material costs—such as a 100% increase in concrete prices over five years—and acute labor shortages. Additionally, there are approximately 3.8 million empty homes in the country, representing 14.4% of the total housing stock.

The crisis has sparked intense political debate. The Spanish government is negotiating a new housing decree, dubbed the ‘Maricarmen decree’ following a high-profile eviction of an 87-year-old woman, to address issues like rent regulation and eviction protections. Critics, including Madrid Mayor José Luis Martínez-Almeida, argue that legislative interventions may worsen the problem by discouraging investment and failing to address the core issue of insufficient supply.

Entities

Bank of Spain · Barcelona · Gonzalo Bernardos · INE · José Luis Martínez-Almeida · Madrid · Pedro Almodóvar · Pedro Sánchez · Spain · Spanish Government · Yolanda Díaz

Claims

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

[● 4 SOURCES] The government is negotiating a housing decree to be presented to the Council of Ministers. digitalextremadura.com · www.eldiario.es · www.eldia.es · www.levante-emv.com
[○ 1 SOURCE] In 2025, approximately 241,000 new households were created in Spain, while the construction sector completed only about 91,900 homes.
[● 2 SOURCES] The housing deficit generated since 2021 is estimated at 750,000 homes. oglobo.globo.com · www.euribor.com.es
[○ 1 SOURCE] 52.5% of the accumulated housing deficit is concentrated in six provinces: Madrid, Barcelona, Alicante, Valencia, Murcia, and Málaga.
[● 2 SOURCES] Rising material costs and labor shortages are hindering the execution of new construction projects despite increased building permits. www.atlantico.net · www.moncloa.com
[○ 1 SOURCE] There are approximately 3.8 million empty homes in Spain, representing 14.4% of the total housing stock. bilbaohiria.com
[○ 1 SOURCE] Spain will need to build over one million additional homes by 2028 to close the supply-demand gap. www.euribor.com.es