Climate change is low on the list of worries for people looking to buy property in Spain, even though millions live in areas at high risk of flooding.
According to Union de Creditos Inmobiliarios (UCI), just 12.1% of prospective buyers say climate risk is one of their main concerns when choosing a home.
It comes despite official data showing that more than 2.7 million people live in high flood-risk zones, based on figures from Spain’s National Flood Zone Mapping System.
Instead, traditional factors continue to dominate. Around 72% of buyers say price is their biggest concern, followed by location (48.8%) and whether they can realistically afford the property on their salary (48.3%).
UCI says buyers are prioritising what feels ‘immediate’, even though climate exposure could affect a home’s future value, insurance costs or the need for expensive adaptation works.
‘It’s logical that buyers focus on price or interest rates,’ said Lorena Zenkñussen, UCI’s Director of Mortgage Financing.
‘But climate risk is now a structural factor that should be reviewed before choosing a home. Anticipating it means protecting family wealth and strengthening the long-term sustainability of the property.’
The lender stressed that this is not about replacing traditional concerns such as price or job stability, but about widening the perspective in a decision that can shape decades of financial commitment.
UCI also pointed out that climate risk is already embedded within the European financial system.
The European Banking Authority (EBA) requires banks to factor environmental and climate risks into their risk management frameworks.
This means exposure to physical risks such as flooding is now part of how financial institutions assess overall financial risk.
