New figures from the Spanish registration authority show that housing prices in the country continue to rise – by 1.71 percent in Q4 and by a whopping 12.34 percent in 2024. This also means an increase of 81.69 percent from the bottom in 2014. The number of housing transactions increased by 3.6 percent in Q4, compared to Q3. The number of home purchases by Swedes is at a stable level and increases slightly in the last quarter of 2024.

According to the registration authority Registrars According to a new report from February 18, 2025, 172,551 homes were sold in Spain during Q4. This is an increase of 3.6 % compared to Q3 and 32.86 % compared to Q4 2023. House prices have increased significantly, + 12.34 % in 2024 compared to 2023. From the bottom in 2014, prices on the Spanish housing market have risen by a whopping 81.69 %. At the same time, prices are only 12.5 % above 2007 levels, which were historical highs. 

• The price increase from the bottom in 2014 may look dramatic. There have been some peaks and troughs, but over time it becomes more stable. Since 2007, prices have increased by an average of 0.7 percent per year. The increase in 2024 is relatively strong and is largely due to low supply, especially new construction, combined with strong demand from both Spaniards and several other nationalities who want to own a home in Spain, says Martin Posch, business area manager for Fastighetsbyrån in Spain and Portugal.

Stable demand from Swedes
The number of purchases by Swedes was 645 in Q4, an increase from 605 in Q3 and 596 in Q2. Sweden is now the twelfth largest foreign purchasing nation and overtook Russia in the number of purchases in Spain during Q4. 

• At our offices, there is an increase in both interest and the number of sales to Swedes. December was our best December since we started 16 years ago. And even in January, the number of sales was at a very high level. The strengthening of the krona in recent weeks is of course also giving a push to those who have been thinking for a long time, continues Martin Posch.

Golden Visa removed – does not boost sales in Q4
Historically large purchasing nations such as the UK, Germany and France have increased their share of foreign purchases clearly in Q4, while countries such as Poland, Russia and China have reduced their shares. The development is surprising as the possibility of a Golden Visa will disappear from April 3, 2025 according to a new law that the government pushed through and published on January 3, 2025. The Golden Visa can be applied for by citizens from countries outside the EU and is a permit that allows foreigners to live and work in Spain if they want to make an investment in Spain and meet a number of requirements. In Portugal, the possibility of a Golden Visa was removed already in 2023.

• Which purchasing nations are decreasing and increasing is a bit surprising since the possibility of the Golden Visa is now disappearing in the spring. We expected an increase in purchases from the "new" purchasing countries until the possibility disappeared. We may possibly see a certain increase again now in the first quarter, continues Martin Posch.

Source: Collegio de Registradores & Consejo General del Notariado