By 2026, Spain’s real estate market has entered a phase of persistent imbalance that is increasingly described as structural. According to idealista’s analysis, the housing shortage is no longer a temporary phenomenon but a systemic issue, particularly evident in major cities and economically active regions. Housing demand consistently exceeds supply, while the pace of new developments fails to keep up with population growth, migration and sustained investment interest.
Barcelona remains one of the most pressured markets in the country. The city combines strong tourist demand, high attractiveness for international professionals, students and investors, and strict limitations on construction and property use. As a result, the supply of available housing continues to shrink, while competition among buyers and tenants becomes increasingly intense.
One of the defining trends of 2026 is the continued rise in both purchase prices and rental costs. Despite expectations of a market correction, the sector has shown remarkable resilience: prices per square metre in high-demand areas keep increasing, with little sign of declining activity. According to idealista, this trend is driven less by speculation and more by a fundamental lack of supply.
The rental market faces even tougher conditions. The number of available properties is decreasing, while rental prices remain at historically high levels. Even with tighter government control and limits on rent indexation, many owners prefer either not to rent at all or to opt for legally “safe” contract structures. For tenants, this translates into stricter requirements, faster decision-making and very limited room for negotiation.
One of the most significant changes must be highlighted separately: from 1 January 2026, new rental regulations came into force in Catalonia, directly affecting the housing market in Barcelona. The core objective of the law is to clearly distinguish between different types of rental contracts and to curb the misuse of temporary leases.
The legislation focuses on two particularly sensitive segments. The first is short-term or temporary rentals, which must now be justified by a specific and verifiable reason for temporary residence, such as work, studies or medical circumstances. If these grounds are merely formal or cannot be substantiated, there is a real risk that the contract will be reclassified as a long-term lease, with different rights for tenants and additional obligations for landlords.
The second key area is room rentals, which for years were widely used in Barcelona as a way to bypass general rental regulations by splitting properties into multiple contracts. The new rules significantly tighten oversight of this practice, making the regulatory framework for room rentals much stricter and directly affecting supply and pricing in the city.
During 2025–2026, rental regulation was strengthened at the national level as well. One of the most impactful measures was the introduction of a unified digital registry for short-term rentals, making registration mandatory for tourist and temporary accommodation. This led to a reduction in illegal listings and, in several major cities, to a noticeable decline in the number of tourist apartments.
At the same time, the method for updating rents in long-term contracts has changed. The traditional CPI-based indexation has been replaced by regulated mechanisms. While this offers tenants more predictable rent increases, it has also reduced the appeal of long-term renting for some property owners, particularly in a context of higher risks and limited flexibility.
Barcelona continues to pursue a strategy aimed at the gradual elimination of tourist apartments. City authorities have confirmed that tourist housing licences will not be renewed once they expire. As a result, this segment is expected to almost completely disappear by 2028.
The stated goal is to return more properties to the long-term rental market for local residents. However, experts point out that, given the overall housing shortage, the real impact will depend on how many of these properties actually return to the conventional rental market, rather than being converted to alternative uses or withdrawn altogether.
Alongside stronger tenant protections, the government has also taken steps to safeguard property owners. A new law aimed at tackling illegal occupation has significantly accelerated eviction procedures, reducing legal uncertainty and risks for landlords. This has been particularly relevant for private investors.
Nevertheless, Spain’s housing policy remains controversial. Analysts at idealista and market participants repeatedly warn that regulation without parallel measures to stimulate construction and increase supply produces the opposite effect: fewer available homes, rising competition and persistently high prices.
In 2026, Spain’s and Barcelona’s real estate market is defined by limited supply, rising prices and increasingly strict regulation. Tenants face intense competition and tougher requirements, property owners deal with growing administrative complexity, and investors are forced to adopt more cautious, long-term strategies.
In the coming years, the key challenge will be to strike a balance between social protection and policies capable of expanding housing supply and stabilising the market. For now, the sector operates in a new reality, where each new law and reform significantly reshapes the rules of the game.
