A significant turning point is emerging in Spain’s property market: the number of registered pisos turísticos – holiday rentals and short-term accommodation – has fallen for the first time in three years and now stands well below the 330,000 mark. This development was recently confirmed by the National Statistics Institute (INE) and reflects far-reaching changes in regulation, supply and demand.
Spain Press Editorial Team
by Marlon Gallego Bosbach
Spain’s holiday rentals on the retreat
After years of growth, the stock of holiday rentals in Spain has recently fallen significantly. In November 2025, the total stood at 329,764 registered units, representing a 12.4% decrease compared with the previous year. This marks the first decline since 2022, despite continuous growth in previous years.
From their peak in August 2024, when more than 403,000 holiday rentals were available, the number of units has dropped by over 73,000 – a decline of around 18%. This is a clear signal of a trend reversal after a prolonged period of rising supply.
Why the decline? New regulations and stricter controls
The key factor behind this structural shift is the introduction of new government regulations to regulate the holiday rental market. Since January 2025, a mandatory registration number has been required for all short-term rentals across Spain. Without this official registration, properties can no longer be listed on major booking platforms. This measure aims to remove illegal rentals from the market and increase transparency.
Through this system, authorities have already been able to identify and remove around 86,000 unlicensed listings. Experts believe that many of these properties were previously rented out without valid permits, particularly in cities and popular holiday regions.
Regulations strengthen the housing market
Beyond the registration requirement, another important regulation came into effect as part of the reform of the Ley de Propiedad Horizontal: homeowners’ associations can now prohibit the use of units as holiday rentals. This measure strengthens the rights of residents and communities, who have long complained about rising prices and tourist pressure.
According to government officials, these reforms are intended to help make more housing available on the long-term rental market, which is a key policy goal, especially in light of the ongoing rent increases in cities such as Madrid and Barcelona.
Regional differences: winners and losers
Despite the nationwide decline in holiday rental numbers, regional differences are evident:
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Andalusia has recorded an increase of around 1.5%, making it by far the region with the highest number of holiday rentals.
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Extremadura has also seen a slight increase, albeit at a lower level. In contrast, numbers have fallen sharply in many other popular regions:
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Valencian Community: −25.2%
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Madrid: −26.3 %
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Balearic Islands: −19.8%
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Catalonia: −11.3%
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Galicia: −22.6%
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Murcia: even more than −33%.
These regional divergences partly reflect different local regulatory approaches, but also the varying structure of short-term rental markets in coastal areas versus inland regions.
Current figures in context
The current figures not only represent a statistical decline but also mark a paradigm shift in a market segment that has been a growth driver for Spain’s tourism industry in recent years. Holiday rentals most recently accounted for around 1.24% of the country’s total housing stock and provided accommodation for roughly 1.62 million guests at a time – a figure that has also fallen compared with the previous year.
More housing or less tourism?
With the new regulations, Spain has made a clear directional decision. The data show that the holiday rental market is shrinking, despite overall strong tourism numbers. Supporters view the measures as a necessary step to strengthen the regular housing market, while critics warn that an overly strict regulatory environment could have negative effects on the tourism sector, which remains an important part of the country’s economy.
How this balancing act between securing housing and maintaining tourist appeal unfolds in the coming months will play a crucial role in shaping how Spain’s cities and regions live and travel in the future.
