Tourism growth is contributing to rising housing costs across Spain, with increased air arrivals adding an estimated €3,800 to the average price of a home, according to a new study. The research, carried out by the New Economics Foundation for the European Federation for Transport and Environment, argues that the expansion of air travel has intensified pressure on housing markets in several major European tourism destinations. The study examined trends between 2019 and 2025 and identified a correlation between rising numbers of tourists arriving by
air and increases in both property prices and rents. The strongest effects were reported in Spain, Portugal, Italy and Greece, where tourism plays a significant role in local economies and large numbers of homes are used as holiday accommodation or second residences. Researchers also noted that countries where air tourism declined, including Belgium, Denmark, Germany, the Netherlands and Poland, generally experienced more moderate movements in housing prices. In Spain, tourist arrivals by air rose by 12.8% over the seven-year period covered by the study. Researchers
estimate that this growth increased the average purchase price of a property by approximately €3,800. The same trend is believed to have added as much as €236, or around 1.7%, to annual rental costs. The report warns that rents could rise by a further €217 by 2031 if air tourism continues to expand at a similar rate. However, the impact is unlikely to be evenly distributed across the country. Tourism-intensive areas such as Madrid, Barcelona, the Balearic Islands, the Canary Islands and parts of the
Mediterranean coast are likely to experience greater pressure than inland regions or cities with lower visitor numbers. The findings echo previous concerns raised by the Bank of Spain, which has highlighted the growing number of properties removed from the long-term housing market and used instead for holiday lets, seasonal rentals or second homes. Around 400,000 homes in Spain are estimated to be used for tourist or temporary accommodation. In addition, an average of approximately 50,000 properties are purchased each year as second homes by Spanish
or foreign buyers. Researchers stress, however, that tourism is only one part of Spain’s wider housing crisis. A chronic shortage of available homes, particularly in high-demand urban and coastal areas, continues to push up prices. Other contributing factors include lengthy planning procedures, overlapping regulations, slow construction rates, labour shortages and inadequate urban development policies. The report also links the expansion of tourism to rising aviation emissions and increased pressure for further airport investment. Madrid-Barajas and Barcelona-El Prat airports are expected to overtake Amsterdam’s Schiphol in
tourist arrivals in the coming years, according to the study. Barcelona is planning a major airport expansion, although the project has generated controversy because of concerns about its possible effect on the nearby La Ricarda wetlands. The Catalan government maintains that the plans have been revised to minimise environmental damage. Tourism levels in some Spanish regions are already far above the European average. Over the past five years, the Balearic Islands received an estimated 9.2 tourists for every resident, while the Canary Islands recorded 4.9
tourists per resident and Catalonia approximately two. The average across Europe was 0.9 tourists per inhabitant. The study also points to €12.9 billion in planned or completed investment in airport infrastructure at Madrid-Barajas and Barcelona-El Prat. Spain’s aviation emissions have also continued to rise. In 2025, emissions linked to air travel were estimated to be 14% above 2019 levels, while Italy recorded an increase of 10%. Globally, tourism was responsible for an estimated 8.8% of carbon emissions in 2019. Despite the growth in visitor numbers,
the study argues that wages and productivity in Spain’s tourism industry have failed to keep pace. In 2023, hospitality accounted for approximately 10% of all hours worked in Spain but generated only 5% of national gross value added, highlighting the sector’s relatively low productivity. Real wages in hospitality also declined slightly between 2008 and 2024, despite the continued rise in foreign visitor numbers and repeated increases in Spain’s minimum wage. Campaign groups opposed to property speculation have welcomed the findings, arguing that short-term holiday rentals
and foreign investment are making housing increasingly unaffordable for local residents. They are calling for tighter regulation of tourist accommodation, greater investment in affordable housing and policies designed to ensure that tourism growth does not come at the expense of residents’ access to homes.
Spain housing, tourism, air travel, rents, property prices, Barcelona airport, Madrid-Barajas, La Ricarda wetlands, holiday lets, emissions