accelerate the ‘Great Wealth Transfer’
With the price of housing approaching to the peaks of the brick bubble and the savings capacity of households seriously limitedyounger Spaniards are opting for a key key to becoming owners of their own home: donations from parents to children. They show it clearly the latest data of the General Council of Notaries (CGN), which reflect that intergenerational transmissions of homes have skyrocketed in Spain. And it doesn’t look like the trend is going to stop. What has happened? That donations and inheritances are gaining weight in the Spanish real estate market. Nothing surprising if we take into account the aging of the country, the increase in housing prices and the difficulties with which (even despite the cheaper credit) are the youngest when they consider buying a house. In other words: the elderly choose to come to the aid of their children, nephews or grandchildren to clear their access to real estate agencies. It is not a new phenomenon (we have been talking about it for a long time). the ‘great transfer’ intergenerational wealth), but that does not stop it from being striking. Especially when data is published that helps to dimension it, something that the General Council of Notaries has just done in a report in which he reveals that housing donations have skyrocketed in recent years in our country. So much so that in his opinion they are already (along with inheritances) key levers for access to housing. Have they grown that much? The data from the General Council of Notaries (CGN) are clear. According to its latest sector report, in 2024, 54,735 homes were donated in Spain, 68% more than in 2017. In fact, if the series of the last eight years is analyzed, 2024 was the second largest record, only surpassed by 2021. And the trend seems to continue in 2025. During the first half of the year the group registered around 27,000 donated homes. In parallel, the number of house inheritances remains more or less stable. In 2024, 403,854 were counted, a very similar figure (with slight fluctuations) to that of recent years. Are they important figures? Yes. And it is better understood when put in the context of the real estate market, something that the notary school itself does. “The number of inherited homes in 2024 and the number of donated homes would together be equivalent to 64% of the home purchase and sale operations registered in that same year,” points out the CGNwhich emphasizes the drift of donations. “The number of inherited homes has remained fairly stable, while the number of donated homes almost doubled between 2017 and 2024.” Not only that. The notaries also emphasize that the stability in the flow of inheritances and the resounding increase in donations contrasts with a more oscillating pace of purchases and sales. And that general framework does not seem to be changing in the short term. “The most recent data for the first half of 2025 show that in this period 202,923 homes have been inherited and 26,923 donated. These two figures together would correspond to 60% of the number of sales between January and June of this year (380,144).” remember the General Council. How do notaries value it? The group does not limit itself to presenting figures. It also slips in the occasional interpretation that points in a clear direction: given the progressive rise in housing prices and the low saving capacity of young people, “intergenerational property transmissions” have been gaining weight. “In this framework, donations and inheritances are consolidated as instruments of access to housing and family redistribution of resources, and here the group of people over 65 years of age takes center stage,” reflects the CGN. After recalling that in general acts related to donations have skyrocketed by 127% between 2017 and 2024, the notaries explain that the growth is largely explained by donors between 55 and over 65 years old. “Inheritances and especially donations seem to show signs of becoming a key access channel for younger generations,” apostille. “Population aging predicts great wealth transmission in the coming decades, whether through donations or inheritances.” Is housing only donated/inherited? No. The notarial report reflects a general increase in donations, not just those involving houses. And that is an important nuance. As was already advancing in February The Countrythe volume of transmissions reached a record last year and a large part of them focused on cash, money that goes from the pockets of mothers and fathers to that of their children to make it easier for them to pay for a home or pay for a mortgage. “There is everything, from donations of 10,000 euros to others of 300,000, but the most common thing is to find figures close to 30,000 or 40,000, which can be used to pay for the entrance fee,” explained María Teresa Barea, spokesperson for the CGN. “We see that those parents who have some liquidity available donate part of the money to their children for the purchase or down payment of the house, but also to start a business.” Are there more factors? Yes. The increase in donations is explained by the increase in the price of residential m2 (it has shot up 15.3% in the last year according to Idealista), the low savings capacity of young people and the difficulties in accessing the real estate market; But another key factor also influences: taxation. In fact CGN data show variations between regions in the total number of homes donated that are not explained by population differences. Images | Ansar Naib (Unsplash) and General Council of Notaries In Xataka | Houses are so expensive in the Balearic Islands and the Canary Islands that they are expelling even Germans and British people from the market.
