The long-standing growth of tourist apartments in Spain appears to be entering a new phase. For the first time, the country’s 25 top urban destinations recorded a decline in short-term rental capacity in 2025. According to data from Exceltur, the association representing Spain’s largest tourism companies, between July and November 2025 the number of available beds in tourist properties decreased by 4.1% compared to the same period in 2024.
In absolute terms, this translates to nearly 16,000 fewer beds, bringing the average to 366,375 beds across these cities.
**Exceltur, a non-profit organization comprising the Presidents of Spain’s 32 leading tourism groups, was founded in late 2001.
How tourist apartments transformed Spanish cities
The current correction follows years during which tourist apartments profoundly reshaped historic centers and neighborhoods in major cities. Five destinations—Madrid, Barcelona, Malaga, Valencia, and Seville—now account for roughly two-thirds of all tourist apartment beds in the 25 most visited cities.
For property owners, the economic incentive was clear: short-term rentals yielded higher returns than traditional long-term leases. The result was thousands of homes withdrawn from the housing market, driving rents up and intensifying debates over regulatory interventions.
The “digital single window” and stricter rules
The turning point of 2025 is directly linked to the introduction of a new national tool: the Ventanilla Única Digital de Arrendamientos, the Digital Single Window for Rentals. Since July 2025, all properties used for short-term rentals are required to register in a central database, accessible to regional and municipal authorities.
Exceltur attributes much of the recent decline precisely to this system, combined with municipalities’ increasing willingness to enforce regulations. Mandatory registration made it easier to identify and remove illegal or unlicensed listings.
Moratoriums and strict Inspections
The national registry operated alongside a series of local initiatives. In cities where residents’ opposition had political weight, municipal authorities implemented stricter urban planning rules, enhanced inspection mechanisms, and launched awareness campaigns about the impact of illegal rentals.
Barcelona, Ibiza, and Palma: The most dramatic reductions
Barcelona has become a reference point in the European debate over tourist apartments. From a historic high of 112,000 beds in 2018, the city has gradually reduced capacity, mainly by combating illegal online listings. The current municipal administration has even pledged to fully eliminate tourist apartments by 2028.
On the islands, the adjustment is even more pronounced. Ibiza, which had approximately 7,300 tourist apartment beds in 2017, now has fewer than 1,500—a nearly 80% reduction, half of which occurred in 2025 alone. Palma de Mallorca has followed a similar path, dropping from roughly 15,900 beds in 2017 to under 6,000 today.
Valencia and other cities seek balance
Valencia exemplifies a major city pursuing active intervention. With roughly 33,000 beds, the city recorded a decline of over 12% in a single year. Local authorities integrate this policy into a broader strategy to maintain long-term rentals in central districts without undermining the city’s tourism appeal.
Meanwhile, cities such as Santiago de Compostela and San Sebastián enforce caps in historic areas and intensify inspections to ensure compliance with zoning regulations.
Where growth continues
The picture is not uniform. In areas with more relaxed regulations, tourist apartments remain at historic highs. Exceltur notes that Bilbao, Malaga, and Almería closed 2025 with record capacity.
Madrid continues to be the country’s largest market, with over 75,000 beds. While this represents a decline compared to 2024 and a slight drop from the 2018 peak, the overall correction remains modest relative to the explosive growth of the previous decade. Malaga, on the other hand, reached nearly 39,000 beds, prompting the municipality to impose a three-year moratorium on new licenses.
Cities sustainable for both visitors and residents
The decline in tourist apartments comes during a period of overall strength for Spanish tourism. Industry operators anticipate growth in sales and profits for 2026, and Exceltur estimates that tourism will remain a key pillar of GDP.
At the same time, awareness is growing—even within the industry—that the development model must change. Uncontrolled expansion of tourist apartments, social dissatisfaction, and the introduction of new taxes and fees are creating a stricter regulatory environment. The goal for Spain is now clear: less quantity, more balance, and cities sustainable for both visitors and residents.
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