The number of tourist homes in Spain has decreased in recent months. According to data from the National Statistics Institute (NSI), in November 2024 there were 368,295 dwellings registered for tourist rental, which represents a reduction of 7.2% compared to the figures for August of the same year, i.e. 28,588 fewer units.
A significant drop since 2023
This decline marks the first decrease in the supply of holiday homes since the beginning of 2023. However, despite the reduction, the current volume is still the second highest in the historical series that began in August 2020.
Compared to February 2024, the picture is different, as the number of tourist dwellings has grown by 4.8%, adding 16,906 new units.
In terms of accommodation capacity, tourist dwellings counted in November offered 1,857,710 bedplaces, which is 6.9% less than in August, but 6.1% more than in February. On average, each dwelling continues to offer around five bedplaces, a figure that has remained stable in the different periods analysed.
Weight of holiday homes in the real estate market
Despite the growth recorded in recent years, the weight of holiday homes in the total housing stock remains low. In November 2024, these represented just 1.38% of the total number of properties in Spain, a lower proportion than the 1.5% recorded in August, but slightly higher than the 1.33% recorded in February.
Alicante and Malaga lead the market
According to the most recent statistics, Alicante and Malaga are the provinces with the highest number of tourist homes in November:
– Alicante: 41,179 dwellings
– Malaga: 41,039 properties
Other provinces with a high number of tourist accommodations are:
– Las Palmas: 27,217 dwellings
– Balearic Islands: 24,190 dwellings
– Tenerife: 24,069 dwellings
– Madrid: 20,760 dwellings
– Barcelona: 18,157 dwellings
On the other hand, the provinces with the lowest number of tourist dwellings in November were Palencia (234), Álava (389), Soria (531), Zamora (558), Valladolid (646) and Badajoz (661).
If we analyse the data by municipality, the cities with the highest concentration of tourist dwellings were:
– Madrid: 17,274 dwellings
– Barcelona: 9,750 dwellings
– Malaga: 7,496 dwellings
– Valencia: 7,290 dwellings
– Marbella: 6,881 dwellings
– Seville: 6,240 dwellings
– Torrevieja: 5,140 dwellings
– Arona: 4,442 dwellings
– Adeje: 4,215 dwellings
– Mijas: 4,146 dwellings
NSI methodology for the calculation of tourist dwellings
The NSI has developed an experimental statistic to estimate the number of tourist dwellings in Spain and their accommodation capacity. To do so, it is based on a technique known as ‘web scraping’, which compiles data from the main holiday rental platforms in the country.
Once the information is obtained, those properties that comply with the regulations of each autonomous community are selected and duplicates are eliminated using a specific algorithm.
Until now, the data was published every six months (February and August), but from now on the NSI will update the information every three months, this being the first publication with data from November.
Government proposal to raise VAT on holiday rentals
In an attempt to regulate the market and guarantee access to housing, the President of the Government, Pedro Sánchez, has recently raised the possibility of increasing VAT on holiday homes.
Currently, these types of rentals are exempt from VAT and are only taxed under the Transfer Tax (ITP), as long as they do not offer additional services typical of hotels, such as daily cleaning or laundry. If these services are included, a reduced VAT rate of 10% is applied.
The government plans to modify this regulation and bring tourist rentals into line with other economic activities, raising VAT to the general rate of 21%. However, the Government has indicated that the location of the properties will be taken into account, as in some rural areas their impact is positive for the local economy.
The union of technicians of the Ministry of Finance (Gestha) considers it feasible to apply 21% VAT to all tourist flats, regardless of whether they offer additional services or not. They also suggest that the measure could be applied specifically in stressed areas, where the supply of holiday rentals affects access to residential housing.
It is worth noting that this increase was already proposed in Law 7/2024, but was rejected in Parliament, as was the elimination of the tax regime for socimis. The final decision will depend on the European regulations currently being discussed in the Economic and Financial Affairs Council (Ecofin).
