Spain tourism employment and real estate market trends

Spain is experiencing significant shifts in its real estate and tourism sectors. In the tourism industry, employment reached nearly 3.1 million affiliates in July, a 3.7% increase, with the hospitality sector driving much of this growth. Additionally, there are 341,001 tourist accommodations across the country, with Madrid, Málaga, and Barcelona leading in volume.

The luxury real estate market remains highly concentrated, with Málaga, Madrid, and the Balearic Islands accounting for the majority of properties priced above €1 million. Specifically, Málaga and Madrid each hold 20% of the national luxury market, while ultra-luxury properties (over €3 million) are primarily concentrated in Málaga and the Balearic Islands.

Conversely, the protected housing sector (VPO) is facing regulatory changes. In Andalusia, over 93,000 protected homes may lose their status by 2030. In the Valencian Community, recent policy changes have increased the maximum price per square meter by a cumulative 16.7%, and the duration of protection is no longer permanent, with homes potentially entering the free market after 30 years.