Spain’s rental market set to lose 23,000 homes in 2026 as demand peaks

Spain’s residential‑rental stock is projected to shrink by 22,927 units in 2026, a 3.35 % decline from the previous year. The loss reflects the transfer of apartments to short‑term, tourist or room‑share formats, sales on the property market and vacant units, as well as the impact of the housing‑law “tensioned zones” and extreme weather events in the south.

Demand pressure has reached a historic high: an average of 143 prospective tenants per listing during the first ten days, far above the 15 contacts considered normal for a balanced market. Barcelona leads the demand index with 418 enquiries per property, followed by Vizcaya, the Balearic Islands and the Basque Country. Median monthly rent rose to €1,211, a 4.85 % year‑on‑year increase.

The regional breakdown shows the steepest drops in supply in Catalonia (‑7.65 %), the Basque Country (‑16.16 %) and Cádiz province (‑29.42 %). In absolute terms, Barcelona will see 5,647 fewer rental units, while Cádiz, Almería and A Coruña also register large losses. The combined effect of reduced supply and record demand is driving rents above €1,000 in twelve provinces, intensifying housing‑affordability pressures nationwide.