With the skyrocketing priceshe decoupling between supply and demand in cities and a market increasingly inaccessiblethe notaries of Spain have found themselves with a curious fact (not unexpected) when reviewing the home buying and selling data. Operations led by young people have collapsed in recent decades. If in 2007 they represented 22.5% of the total, now they do not reach 10%.
Of course, all groups have followed the same dynamic. The statistics Notaries show that there is another group of buyers that has experienced a diametrically opposite trend: foreigners.
What has happened? That the General Council of Notaries (CGN) has launched a new tool on-line which helps us better understand the Spanish real estate market. Above all to study key aspects such as the evolution of prices, the pace of purchases and sales or the amount of operations, offering an alternative vision to that of portals such as Idealista. If something has attracted attention During its presentation, however, another indicator was: the weight of young people in the real estate market. Or rather, how it has been receding little by little.
What does the data say? The conclusion of the notaries is quite clear. If we look back and analyze the last two decades, we see that “the presence of young people in the market has been drastically reduced.” In 2007, the younger population (those between 18 and 30 years old) was behind 22.53% of sales. Today that percentage has been reduced to 9.55%. In fact, the statistical portal shows that they are one of the groups with the smallest footprint on the market, only behind the group that is already over 70 years old.
In general the latest data Updated CGN data show that those under 31 years of age have represented 9.35% of buyers over the last year, far from the 25.7% of the 31-40 age group or 26.89% of the 41-50 age group. For more than a decade, in fact, the average age of those who buy has been around 50 years old. It’s not surprising at all. Other studies have been pointing out for some time the difficulties with which young people encounter to access the real estate market (only a part manages to buy or rent) and above all its gradual weight loss.
Do they show anything else? Yes. Young Spaniards may play a much more discreet role in the sector today than just a few years ago, but there is another group that has grown. So much in fact that has covered the gap left by those less than 30 years old. CGN data show that operations carried out by foreigners have skyrocketed in the last two decades: from representing 7.5% of the total in 2007, they have risen to 20.1%. The Vanguard specifies that the increase has been especially pronounced in the case of non-residents, who would be purchasing of the order of 50,000-60,000 properties per year.
He statistical portal of notaries allows us to go a few steps further and get a more approximate idea of which foreign citizens are interested in the Spanish real estate market. According to their updated data, the British represent 8.7%, the Moroccans 7.7% and the Italians are close to 7%. They are followed on the list by Germans (6.9%) and Romanians (6.4%). It is interesting that in some of these groups, such as the British, the percentage of non-resident buyers is higher than those who do have their habitual residence in Spanish territory.
When comparing the evolution of foreign buyers and young people (between 18 and 31 years old), the data must however be handled with some caution, since the General Council of Notaries does not clarify to what extent they overlap.
And what about the prices? In recent years the real estate market has been marked by another phenomenon as or even more relevant: rising prices. The data of Idealistic show that, in Spain, on average, the square meter of residential use cost 1,522 euros in September 2015. It now stands at 2,517. The data does not exactly match the calculated by the notaries, but it still gives an idea of the increase in housing prices. The group estimates that last year the sector recorded a variation rate price increases of 7.12%, one of the highest in the last decade. In fact, it was only surpassed in 2022, when the figure was 7.23%.
“From January to August 2025, apartment prices in Spain (new and second-hand housing) have increased by 8% compared to 2024. This situation is worsened in the country’s capital, with Madrid registering a price increase of 15.2%. In Barcelona the increase reaches 9.23%,” concludes the CGN. The director of the Technological Center of Notaries, Alberto Martínez Lacambra, admits In fact, the rise in housing prices “is beginning to be worrying.”
And beyond prices? The weight loss of young people is explained by several factors. Although the increase in the price of residential m2 is a key factor, there is an added difficulty in saving (costs rise in the purchase and sale market, but also in the rental market) and accessing credit or deep imbalance between demand and supply that the most saturated markets suffer from. The situation is so complex and young people have it so difficult that in fact notaries have found another revealing surprise: they are increasingly most common donations of housing (or cash for purchases) between parents and children.
Regarding the increase in foreign buyers, the trend coincides with another undeniable reality. One that goes beyond the effect of extinct ‘golden visa’: he general increase of the foreign population, which has helped Spain increase its GDP and strengthening of the registry, a reality recognized by the INE itself. In recent years, the country has also gained appeal as a vacation destination, to the point that it threatens to become with more visitors of the planet.
Images | Emil Gabrovski (Unsplash) and Roberto Tjalondo (Unsplash)
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