Estate agents report more than 1,500 rental contracts have been put on hold as property owners reconsider their plans following the Government’s latest housing decrees.
A total of 4,235 homes have been withdrawn from Spain’s long-term rental market or redirected towards other uses in just ten days, according to the Federation of Real Estate Associations (FAI).
The figures, gathered from more than 600 estate agencies, point to an immediate reaction among property owners following the announcement of the Government’s latest housing measures. The federation says 88.9 per cent of the agencies surveyed have detected changes in second homeowners’ behaviour.
FAI’s findings also suggest that the disruption extends beyond properties being advertised. A further 1,523 rental contracts have reportedly been delayed or put on hold, leaving prospective tenants waiting to find out whether their agreements will go ahead.
Where have the 4,235 homes gone?
The federation’s survey breaks down the changes reported by estate agents over the ten-day period.
- 2,067 homes were withdrawn directly from the long-term rental market.
- 1,224 properties were redirected towards the sales market.
- 944 homes were switched to seasonal rentals or room-by-room lets.
- 1,523 rental contracts were reportedly blocked or delayed.
The 4,235-property figure combines homes withdrawn from ordinary residential renting with those moved into other uses. It does not mean that all these homes have been left empty or removed permanently from the housing stock.
FAI says the changes have been particularly noticeable among small property owners, some of whom are reconsidering whether to offer their homes under long-term rental agreements.
The survey also found that 72.4 per cent of agencies had experienced delayed or suspended rental contracts. Meanwhile, 56.6 per cent reported owners putting properties up for sale instead of renting them, while 38.9 per cent had seen homes redirected towards seasonal or room rentals.
Rental activity could fall by up to 30 per cent?
FAI warns that the number of completed rental transactions could fall by between 25 and 30 per cent in the coming weeks. That is a forecast from the federation, rather than a confirmed fall in completed rentals. It is based on the combination of properties leaving the long-term market and agreements that have been delayed or suspended.
The association attributes the changes to uncertainty following the Government’s housing decrees, which include measures affecting rental contracts and protections for tenants.
The decrees were rejected by Congress but the Government has sought to revive them through the parliamentary process. The resulting uncertainty has become a concern for property owners and investors trying to assess the rules that will apply to rental homes.
FAI president José María Alfaro has acknowledged the difficulties tenants face in accessing housing and the financial pressure caused by high rents. However, he argues that the measures have also raised concerns among small landlords about protection against unpaid rent and the procedures involved in recovering a property. The survey records what estate agents say they have observed; it does not establish that the decrees alone caused every property owner’s decision.
Investors are also becoming more cautious
The concerns extend beyond individual landlords. A report published by Cinco Días on October 13 said property investors were becoming more cautious following the housing measures and the announcement of a general election for November 29.
The report said some residential investment transactions were being reviewed or potentially delayed. One major transaction under consideration involves a portfolio of around 1,900 rental homes owned by Greystar and Vía Célere, valued at approximately €530 million. The potential buyer was expected to wait for greater political clarity before proceeding, according to the report. The transaction has not been confirmed as cancelled.
Spain was still on course for a record year in overall property investment, but industry experts warned that prolonged uncertainty could have a greater effect on future investment decisions, particularly projects involving homes intended for long-term rental.
What happens next?
The immediate question is whether the changes reported by estate agents will be reflected in wider rental-market statistics over the coming months. Idealista’s figures published on October 15 show that competition for advertised rental properties was already intense, with an average of 43 people per listing bidding for the same home during the third quarter of 2026, up 16 per cent on a year earlier.
If fewer homes are offered for long-term rent while demand remains strong, tenants could face even less choice. However, the latest FAI survey does not establish how many of the reported withdrawals will be permanent, nor how the changes will affect rents nationally.
For people looking for a home, the figures provide another reason to monitor local availability closely. For the property sector, the coming weeks should show whether the reported disruption is temporary or signals a more lasting change in landlords’ willingness to offer long-term rentals.