After years of rapid growth in demand, Spain’s property market is showing the first signs of cooling. In popular areas such as Málaga, Alicante and Mallorca, homes are no longer selling quite as quickly as they did previously. However, experts are not describing the situation as a crisis, but rather as a return to more normal market conditions.
Spain Expat Press Editorial Team
by Marlon Gallego Bosbach
Spain’s property market appears to be entering a new phase in 2026. While many flats and houses found buyers within just a few days in previous years, pressure on the market is now noticeably easing. In particular, so-called “express sales” – properties that are sold within just one week – are declining in many regions.
The trend is particularly affecting areas that are highly popular among foreign buyers. These include the Costa del Sol, the Costa Blanca and the Balearic Islands. After a prolonged period of exceptionally strong demand, the balance between buyers and sellers appears to be shifting back towards a more even market.
Fewer properties are being sold within just a few days
Current market data shows that the proportion of properties finding a buyer within seven days is declining across Spain. In the second quarter of 2026, around seven per cent of all property sales were completed within one week. During the same period the previous year, this figure was still around eight per cent.
At first glance, the decline may appear small, but it highlights an important change: buyers are under less pressure and can once again take more time to carefully consider available properties. While prospective buyers in previous years sometimes had to act within hours or a few days to avoid losing a property to other interested parties, the situation has now become somewhat more relaxed.
Málaga and Alicante particularly affected
The slowdown is particularly noticeable in regions that have experienced a strong influx of international buyers in recent years.
In the province of Málaga, the proportion of properties sold within one week fell from nine to seven per cent. The Costa del Sol region remains one of Spain’s most sought-after property markets, but the extraordinary momentum seen in recent years appears to be slowing.
Alicante is experiencing a similar trend. There, the share of so-called quick sales fell from seven to five per cent. Particularly along the Costa Blanca, foreign buyers from the United Kingdom, Germany, the Netherlands and other European countries have played a major role in driving demand.
A slower development is also becoming apparent in Mallorca. In Palma, the share of properties sold within one week also fell from seven to five per cent.
Properties are staying on the market for longer
The latest figures show that overall selling times are becoming longer. Around one fifth of properties now require between one week and one month to find a buyer. A further 27 per cent remain on the market for between one and three months.
For buyers, this development means more room to manoeuvre. Viewings can be planned more carefully, prices can be compared more effectively, and decisions can be made with less pressure.
For sellers, however, the situation is changing. Properties that are overpriced or do not meet current market expectations could remain on the market for significantly longer in the future.
Madrid and Barcelona are also feeling the change
The development is not only affecting the traditional coastal regions. Spain’s major cities are also showing the first signs of a market normalisation.
In Madrid, the share of properties sold within one week fell from 14 to 11 per cent. Although the capital remains a highly sought-after location for both residents and investors, the exceptionally fast pace of the market also appears to be slowing here.
In Barcelona, the share of quick sales fell slightly from eight to seven per cent. The Catalan metropolis remains attractive to international buyers, but prospective purchasers there are also increasingly taking more time to carry out a thorough assessment before buying.
Not a property crisis, but a market adjustment
Despite the slower pace of the market, experts do not see any signs of a collapse in Spain’s property sector. Instead, they view the development as an adjustment following several years of exceptionally strong growth.
High demand, limited supply and rising prices have put many buyers under pressure in recent years. The current development could now lead to a more balanced market, where negotiations once again play a greater role.
A decline in quick sales does not automatically mean that property prices are falling. Rather, it shows that buyers are regaining more influence and that sellers need to pay closer attention to realistic pricing expectations.
The market is not losing momentum everywhere
While many regions are experiencing a slowdown, there are still areas where demand remains strong. Bilbao, for example, is one of the markets where the share of quick sales has actually increased recently.
Smaller cities can also continue to show highly dynamic market developments. In some regions of Spain, properties are still being sold within a very short period of time when the location, condition and price are right.
What does this development mean for buyers and sellers?
For buyers, the current situation could create a more favourable position. The intense competition of recent years is easing, giving buyers more time to compare properties and negotiate. Prospective purchasers can increasingly review several offers and are less often forced to make rushed decisions.
Sellers, on the other hand, should adjust more closely to current market conditions. Properties with unrealistic asking prices could remain on the market for longer, while attractive homes in desirable locations are still likely to remain in demand.
