Spain's housing market is in a state of flux, with a growing number of citizens viewing mortgages as a more financially viable option than renting. This shift in mindset is a direct response to the soaring rental prices, which have reached record highs. The latest report from Fotocasa Research reveals that 71% of private individuals now believe that mortgages are more profitable, up from 70% in the first half of 2025. This significant increase highlights a structural change in the market, with homeownership becoming a perceived 'refuge' from the imbalances in the rental sector.
The preference for buying is not just a cultural phenomenon but a practical strategy for financial stability. As rents continue to rise, more people are choosing to invest in mortgages, despite the challenges of saving for a down payment and the high purchase prices. This trend is particularly interesting as it challenges the traditional view of renting as a more flexible and affordable option. The report also notes that 68% of respondents consider buying property a safe investment, and 68% believe that homeownership remains deeply ingrained in Spanish society.
However, this shift towards homeownership comes with a warning. A staggering 56% of those surveyed fear that the market is heading towards a new property bubble, an increase of two percentage points from 2025. This concern is not unfounded, given the rapid rise in both purchase and rental prices. The cultural perception of renting is still mired in pessimism, with 50% of active private individuals viewing it as a waste of money. This sentiment is reflected in the declining expectations that Spain will converge with the European rental model, with only 40% believing the market will evolve towards a greater role for renting.
The current regulatory framework, the Housing Law, has also faced widespread disapproval. Despite a slight increase in approval ratings from 27% to 28%, the average rating remains a mere 4.7 out of 10. This indicates that the law is not adequately addressing the concerns of the public, who are struggling with the high costs of housing.
It is essential to consider the macroeconomic context in which this survey was conducted. The survey was carried out in February 2026, reflecting the impact of the 2023-2025 biennium, which saw a gradual easing of interest rates and a rise in rents. The recent interest rate hike by the European Central Bank (ECB) adds further uncertainty to the market, and its impact on citizens' perception of mortgage profitability will be a key factor in future reports. This complex interplay of factors highlights the need for a comprehensive and nuanced approach to housing policy in Spain.
