368,295 tourist homes in Spain: where they are concentrated

How the INE measures tourist homes

The National Institute of Statistics produces an experimental statistic on tourist homes based on automated analysis of listings from the three most used platforms in Spain. It then removes duplicate listings across platforms using a cleaning algorithm. Data was published every six months, and the INE announced it will now release it every three months.

Autonomous communities maintain their own registries, so there may be differences with regional figures. Still, this is the most complete national measurement available.

The snapshot of November 2024

According to the INE, in November 2024 Spain had 368,295 tourist homes and 1,857,710 beds, 7.2% fewer homes than in August of the same year. The drop shows that tourist rental supply is also seasonal: many homes are withdrawn in winter or switch to medium-term rentals.

The city of Madrid topped the list of municipalities, with 17,274 tourist homes, followed by Barcelona (9,750), Málaga (7,496), and Valencia (7,290). Across the Madrid region, about 20,760 were counted.

Why Madrid leads

Madrid combines a large volume of visitors—over 10 million travelers per year in the city—with demand spread throughout the year thanks to business, fairs, congresses, students, and culture. This stability makes tourist accommodation attractive and also explains regulatory pressure on it in the city center.

Weight on total housing

Across Spain, tourist homes represent a small fraction of the total housing stock but concentrate in central neighborhoods and coastal areas, where their share is much higher. This concentration motivates municipal rules limiting new licenses in certain districts.

For investors, this means two homes in the same city can face very different regulatory situations depending on their neighborhood and building.

What to look for in an asset in Spain

• Number from the Unique Rental Registry effective since July 2025.
• Municipal license or permit depending on the area.
• Authorization from the homeowners' association.
• Seasonality of occupancy and competing supply.
• Estimated profitability including all-year costs.

Risks

Regulations on tourist accommodations in Spain have tightened and may continue to do so. There is also a risk of oversupply in some neighborhoods and changes in tourist demand.

Supply that comes and goes with the season

The 7.2% drop between August and November reveals a little-known phenomenon: many owners only list their property during peak demand months. In summer, thousands of additional properties compete; in winter, many withdraw or switch to seasonal contracts for students and professionals. This flexible supply puts pressure on rates during high season.

For professionally managed accommodations, the strategy is usually the opposite: stay active year-round, adjust prices during slow months, and leverage stable demand from business and events. That’s why the annual occupancy of a well-managed asset can be higher than the market average, though it’s never guaranteed.

Conclusion

Spain has one of the largest tourist accommodation markets in Europe, with Madrid leading the way. To invest wisely, location, licensing, and management matter as much as tourist volume.

• View assets in Madrid