Property Transfer: New Trends
In early October, Spain marks the International Day of Older Persons. During this period, the country’s notarial community highlights the important role of citizens over 65 in the process of transferring property between generations. According to recent data, over the past eight years, the older generation has transferred 3.6 million residential properties to young families and relatives.
Dynamics of Gifts and Inheritance
Since 2017, Spain has seen a significant increase in the number of housing donation transactions. Over this period, the number of such transactions has grown by more than 70%, from 32,600 to 54,700 per year. Only in the first half of this year, more than 25,000 apartments and houses were donated. In total, over eight and a half years, almost 400,000 properties have changed hands through donations. Currently, transactions involving at least one apartment account for a quarter of all donations in the country.
These figures are complemented by properties transferred through inheritance. From 2017 to June 2025, 3.24 million apartments and houses changed ownership via inheritance. After the pandemic, the annual number of such transactions stabilized at over 400,000. However, in the first half of 2025, a slight decrease was recorded: in six months, just over 202,000 properties were inherited, which is 2.6% less than in the previous year.
Impact on the Housing Market
Experts emphasize that the transfer of real estate through gifts and inheritance is becoming increasingly significant amid rising housing prices and limited financial options for young families. In 2024, the total number of apartments acquired by inheritance and gift accounted for approximately 64% of all registered purchase and sale transactions. In recent years, the volume of inherited housing has remained stable, while the number of gifted properties has almost doubled. Meanwhile, the purchase and sale market has shown significant fluctuations: there was a decline in 2020, while in 2022 and 2024, the number of transactions exceeded 720,000.
In the first half of 2025, inherited and gifted apartments accounted for more than 60% of all purchase and sale transactions. This indicates the growing role of intergenerational property transfers in providing young families with housing and redistributing resources within families.
