Analysis of the Real Estate Market in Spain

This report provides a comprehensive analysis of the Spanish real estate market as of 2025, focusing on the emergence of bubble-like conditions and the structural factors underpinning the persistent supply-demand imbalance. Drawing on official data from the Bank of Spain, INE, the Ministry of Housing, and leading sectoral research, the study employs both quantitative and Austrian school economic frameworks to assess market dynamics, investor behavior, and regulatory impacts.