The housing market in Spain has shown resilience after the pandemic’s low moments and the uncertainty that cooled investment decisions. Recent months have brought sales to levels not seen in more than ten years. For instance, in April, transactions reached 60,734, according to the General Assembly of Notaries, CGN. As families rebuilt savings, investment in real estate regained momentum, a traditional safe haven in uncertain times. In 2021, INE data indicated that about 10 percent of purchases, roughly 51,000 homes, were made as investment value, underscoring the market’s appeal for capital preservation.
The demand for guidance through the purchasing process has driven a 70 percent rise in real estate employability over the past decade, as noted by the Real Estate Barometer from Unión de Créditos Inmobiliarios, UCI, and its professional development arm Spanish International Real Estate Alliance, SIRA. Today, more than 167,000 professionals work in the sector, a record figure that reflects growing opportunities and a broadening skill set across the field.
Spain hosts a robust pool of real estate professionals, with many expanding their teams as the market evolves. The most sought-after roles include proptech specialists, investment analysts, and agencies that cover diverse sectors. Francis Fernández, director of SIRA, highlights rehabilitation agents as pivotal players amid expectations of substantial growth in renovations and increased public investment aimed at raising energy efficiency standards. The government plans to allocate EUR 4,420 million in European funds to rehabilitate around 500,000 homes between 2021 and 2023, with current annual construction around 30,000 homes. Fernández notes that there is a surge of job offers that will shift the housing stock toward higher sustainability and energy quality, driven by policy and market dynamics.
Job seekers considering the sector also weigh working conditions. Experts indicate that salaried real estate agents enjoy flexible hours and annual salaries in the range of 30,000 to 40,000 euros, providing a good balance for those targeting specific market niches. Toni Expósito, CEO of Compracasa, explains that the rise in employability stems from many seasoned professionals leaving banking to enter the industry, bringing valuable expertise. Another common path is for self-employed professionals who partner with brokers and work full- or part-time to supplement their income. Previously, commissions for unpaid agents attached to real estate firms ranged from 30 to 40 percent. Now, platforms enable agents to earn between 70 and 99 percent of transaction value. Expósito notes that in the United States this share is often close to 100 percent, and in Spain the trend points toward a similar trajectory, signaling a major shift in how earnings are structured in the market.
Digitization is increasingly embedded in daily real estate practice in Spain. Brokers use 3D property imagery, home staging, and targeted marketing to showcase homes, while social media management and business software become standard tools in day-to-day operations. The evolution toward digital marketing and data-driven decision-making helps agents reach broader audiences and close deals more efficiently.
Analysts caution that inflation could shape the market’s future by eroding purchasing power and dampening interest in brick-and-mortar investments. Wages are projected to rise about 2.5 percent over the year, but without a corresponding increase in purchasing power, these gains may not translate into stronger demand. BBVA Research’s real estate observatory projects a 1.3 percent annual decline in total sales, down to around 670,000 units, following a strong 2021 when growth reached 38.4 percent, influenced by external pressures such as conflict and material shortages. These forecasts underscore the need for prudent planning and adaptable strategies as the market adjusts to macroeconomic forces.
Construction stands out as an exception to the overall trend, currently facing staffing shortages despite high demand. About 1.316 million people are employed in construction, roughly half of the peak recorded during the housing boom. The industry reports a gap in skilled workers for tasks such as masonry, formwork, paving, and construction management. The National Construction Confederation, CNC, State of the Workforce I Report notes that 65 percent of construction firms find it extremely difficult to hire essential trades, adding urgency to the efficient use of European funds to recruit and train 700,000 professionals. This emphasis on workforce development aligns with policy goals to sustain housing supply and elevate building quality while supporting long-term economic resilience.