Spain has 3.8 million vacant homes, 14.4% of the residential stock. Galicia leads with 28.8%. This phenomenon opens opportunities for proptech founders.
Spain maintains 3,857,328 vacant homes, 14.4% of its total residential stock, according to the latest official data from the INE. At the same time, the Bank of Spain estimates a housing deficit of 750,000 units accumulated between 2021 and 2025.
This paradox defines the phenomenon of "cities with closed shutters": towns where the supply exists but remains inaccessible for those who need to live there. For founders in the proptech, real estate, or tourism sectors, understanding this dynamic is crucial. It is not just a social problem: it represents business opportunities in asset management, long-term rental platforms, and residential mobility solutions that are redefining the market.
The term describes municipalities where a high percentage of homes are second residences or are permanently unoccupied, while local residents face a shortage of affordable rentals. The pattern is repeated in France, the United Kingdom, the USA, and Spain, although with different regulatory nuances.
In Spain, the distribution is revealing: 30.6% of vacant homes are concentrated in municipalities of up to 10,000 inhabitants, while in cities with more than 250,000 inhabitants, it barely represents 10.5%. This means that the idle stock is not where there is real demand for permanent housing.
Galicia leads with 28.8% of vacant homes, followed by Castilla-La Mancha (22.6%) and Asturias (21.5%). Municipalities such as Tías (Lanzarote), Mos (Pontevedra), and Monforte de Lemos (Lugo) are among those with the highest proportion of vacant homes among localities with more than 10,000 inhabitants.
Municipalities are responding with increasingly aggressive fiscal instruments to mobilise the vacant stock. The Housing Law allows municipalities to apply a surcharge of up to 150% on property tax for homes that have been unoccupied for more than two years without justified cause. This measure aims to disincentivise the ownership of idle real estate assets in pressured areas.
Additionally, public guarantees and tax incentives are being promoted for owners who lease vacant homes for permanent rental, although the Bank of Spain points out that the main cause of the problem is the inelasticity of supply: construction is not keeping pace with the number of households.
In France, the Paris Council approved in July 2026 to raise the tax on vacant homes from 17% to 30% in the first year, and from 34% to 60% starting in the second year, effective January 2027. This measure aims to return approximately 20,000 apartments that remain unoccupied in the French capital to the market. Nationally, France recorded 3 million vacant homes in 2025, equivalent to 7.7% of the stock, the lowest level since 1982 according to INSEE.
In the French Basque Country, municipalities like Biarritz have implemented a compensation regulation since 2023: for every tourist rental, the owner must offer another equivalent property for long-term rental in the same municipality. In the UK, several councils impose surcharges on council tax for second homes and long-term vacant properties, especially in tourist areas of Wales and Cornwall. In the USA, cities like New York use vacancy taxes, although regulation varies significantly by state and municipality.
The combined effect of vacant housing and tourist rentals creates dual pressure on local markets. On one hand, short-term rentals (Airbnb and similar) are more profitable than long-term rentals, reducing the stock available for residents. On the other hand, part of the stock is acquired as an investment asset or second residence, driving prices beyond the reach of local incomes.
The result: residents displaced to the peripheries or less pressured municipalities, with longer commute times and reduced access to services. In Spain, 455,280 new homes have remained unsold since 2024, concentrated mainly in Madrid and the Levantine coast, highlighting a disconnect between supply and real demand.
For entrepreneurs, the opportunity lies in connecting idle supply with unmet demand. Long-term rental platforms, asset management services for owners of second residences, and residential mobility solutions are some of the niches that are emerging. The regulatory context, with increasing penalties for vacant housing, makes owners seek profitable alternatives, and this is where startups come in.
The key is to understand that the vacant stock is not homogeneous: it varies by municipality size, region, and type. Founders who manage to identify the segments with the greatest potential for mobilization—such as homes in tourist areas or second residences in areas with rental demand—will have a competitive advantage.
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