Spain is set to become Europe’s fastest-growing major property market, with the value of transactions forecast to reach €156billion in 2027.
Turnover is expected to increase by 10.7% in 2026 and a further 10.2% next year, representing the strongest growth rates among the continent’s leading markets.
The figures come from the European Outlook 2027 report by Italian property consultancy Scenari Immobiliari.
Its projections encompass the entire real estate market, including homes, offices, shops and logistics properties, rather than residential sales alone.
Spain’s transaction volume is predicted to grow from €127.8billion in 2025 to €141.5billion this year, before reaching €156billion in 2027.
That would represent an increase of more than €28 billion, or 22%, in just two years.
The same consultancy previously identified Spain as Europe’s strongest-performing property market in 2025.
Spain still trails Europe’s largest markets
Despite recording the strongest growth, Spain is expected to remain behind Europe’s largest property markets in terms of overall transaction value.
Germany is forecast to retain the top position, with turnover reaching €338billion in 2027.
It will be followed by France at €234billion and Italy at €194.1billion.
England’s market is expected to generate transactions worth €164.2billion, placing it narrowly ahead of Spain.
Spain would therefore remain the smallest of the five major markets examined, despite rapidly closing the gap.
Its €14.5billion annual increase forecast for 2027 would be greater than the rises predicted in Germany, France or England.
Across the 28 European markets included in the study, total property turnover is expected to increase from €1.21trillion in 2025 to almost €1.36trillion in 2027.
The five largest markets will account for approximately €1.09trillion of that total.
House prices to rise another 17%
The study also predicts that Spain will experience much steeper house-price increases than Europe’s other major economies.
Residential prices are expected to climb by 10% in 2026 before rising by a further 7% in 2027.
If those forecasts prove accurate, a property worth €300,000 at the beginning of 2026 would rise to around €353,000 by the end of next year, assuming the increases compounded consecutively.
Italy is forecast to record house-price growth of 4.2% this year and 4.8% in 2027.
Prices in Germany are expected to increase by 1.8% and 2%, while France is predicted to see rises of 1.2% and 2.4%.
Spain’s rapid increase is being supported by strong domestic and international demand, favourable economic conditions and the continued appeal of property as an investment and store of wealth.
However, the predicted growth will add to affordability pressures in areas where prices have already risen considerably faster than local salaries.
