News & Events

Access to housing in Spain: rising pressure and the importance of clear data

Accessing housing has become increasingly challenging across many countries. Real estate markets are under strain due to sustained price increases, limited affordable supply and demographic and economic changes that affect both renting and homeownership.

In **Spain**, demand for housing continues to grow, particularly for rental and affordable options, while supply remains constrained. This imbalance is further shaped by an evolving regulatory environment, with new laws and public programmes designed to improve access through financial support, rehabilitation grants and rental incentives.

These measures can be effective, but their impact depends on proper execution. Eligibility criteria, technical documentation, property valuation and energy certification often determine whether support can be accessed.

At **Accumin**, we see data as the starting point for better decisions. We continuously analyse residential market dynamics, focusing on price evolution, regulatory context and affordability indicators, with the aim of providing a rigorous and accessible perspective on housing access.

To assess the current pressure in Spain, we analysed the latest **IMIE Local Markets report**, produced by **Tinsa España and Accumin Intelligence**. The report combines price trends based on Tinsa’s valuation data with financial and market activity indicators.

A key metric in the analysis is the **theoretical effort ratio**, which estimates the share of household disposable income required to cover the first year of a mortgage financing 80% of the average home price. The national average stands at **34.1%**, while seven provinces exceed the **35%** threshold often considered a reasonable upper limit. The highest levels of pressure are observed in Málaga (58%), the Balearic Islands (49%) and Madrid (45%), followed by Cádiz, Alicante, Sevilla and Barcelona.

At city level, Madrid, Málaga, Barcelona, Cádiz and San Sebastián all exceed **50%**, indicating particularly high stress. Values between **40% and 50%** are recorded in Sevilla, Granada, Salamanca, Valencia, Palma, Santander and Pamplona. Among Spain’s six largest cities, only Zaragoza remains below the risk threshold, at **32%**.

Through our ongoing work, we will continue to monitor these indicators as part of a broader content series analysing access to housing across different markets. After Germany and Spain, the next focus will be Portugal.


Access to housing in Portugal: supply constraints at the centre of the imbalance

Where are the opportunities in Latin America’s residential markets?

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Access to housing remains one of today’s most significant socio-economic challenges. While its drivers are global, the way the pressure materialises varies by country. As part of our ongoing series on residential markets, **Accumin** focuses on **Portugal**, a market shaped by local constraints that reflect wider international trends.

In this analysis, **Pedro Mestre**, Director at **PVW Tinsa by Accumin**, examines the roots of the country’s housing shortage. The core issue is a sharp contraction in supply. Annual new housing completions fell from around **100,000 units between 2000 and 2010** to approximately **10,000 units per year** over the following decade.

This gap is reinforced by structural supply-side constraints. Construction rules differ across municipalities and remain complex. New residential development is subject to a **23% non-deductible VAT**. Construction costs have more than doubled, while the previous downturn significantly reduced the sector’s capacity.

At the same time, demand has intensified. Portugal’s population increased by **around 400,000 people** over the last ten years. International investment has expanded, with buyers from more than **90 nationalities** attracted by its appeal for primary homes, second residences, short-term rentals and investment assets.

This imbalance has favoured **Build to Sell** developments, often aimed at higher-income buyers, over the development of a **Build to Rent** market, limiting rental options for local households.

In this context, access to reliable data and rigorous analysis is essential. At Accumin, we provide the clarity needed for developers, investors and public authorities to assess constraints, understand market dynamics and support a more transparent and efficient residential market.


Accumin Intelligence shares insights on data and AI at NPL RES 2025

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**Javier Ventas Sánchez, Advisory Director at Accumin Intelligence**, participated yesterday as a speaker at **NPL RES 2025**, joining the panel _“Innovation in NPLs: data, AI and advanced recovery strategies”_.

The session brought together industry professionals including **Antonio Fernández García-Fraile**, Managing Director at Finsolutia; **Javier Picas Asmarats**, Business Development Director at SOGEMEDI; and **Conrado Caviró Méndez**, Chief BU Investors at doValue Spain.

The discussion focused on **the role of data across the full value chain**, from capture and governance to processing and analytical use in valuation models. The panel also explored how **artificial intelligence and process automation** are improving efficiency in the real estate and NPL markets, while reshaping pricing methodologies and recovery strategies.

The exchange highlighted the importance of integrating advanced analytics and AI-driven tools to remain competitive in an environment where accuracy, speed and consistency are increasingly decisive.


The new US–EU trade agreement brings clarity to markets and implications for real estate

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The new trade agreement between the United States and the European Union introduces a clearer framework for transatlantic trade. A **single 15% tariff** on most EU exports to the US, covering sectors such as automotive, pharmaceuticals and semiconductors, reduces uncertainty that had been weighing on macroeconomic expectations.

From a real estate perspective, this clarity may help **restore investor confidence**, particularly in **industrial and logistics** assets, which are closely linked to global trade flows. 

In Europe, a more stable outlook combined with lower interest rates is expected to continue supporting housing demand. The outlook is more nuanced in the United States. Persistent inflationary pressures and weaker purchasing power could limit momentum in the residential market, despite the easing of trade-related uncertainty.

In [our latest analysis](https://www.accumin.com/intelligence/insights/articles/how-could-the-current-trade-war-impact-the-real-estate-market), **Cristina Arias Baniela**, Director of Research Services at **Tinsa España**, examines the economic context and its potential impact on real estate markets on both sides of the Atlantic.


Is rural Germany the answer to the housing challenge?

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Property investment in Germany has traditionally focused on major cities. However, the current imbalance between supply and demand is prompting a reassessment of the market: while urban areas face very low vacancy rates, rural regions account for nearly two million empty flats. This phenomenon, often referred to as Landflucht in reverse, is gaining momentum and opening up new investment opportunities. 

The growing appeal of rural living is driven by several structural factors. First, housing costs in rural areas remain significantly lower than in cities, where rents and purchase prices can be up to 30% higher. This cost differential positions rural locations as a more accessible alternative for both residents and investors.

Beyond affordability, lifestyle considerations are playing an increasingly important role. Many households are prioritising tranquillity, space and proximity to nature. This shift is further reinforced by the rise of remote and hybrid working models, enabled by improving digital infrastructure: by mid-2024, over 40% of German households had access to fibre optic broadband. 

In parallel, substantial government housing support is enhancing rural affordability. Key measures include more than €11 billion allocated to residential construction through the Special Infrastructure and Climate Neutrality Fund, alongside €700 million committed by 2026 to the Young buy old programme, which provides favourable financing for families renovating older properties. 

At Accumin, we closely analyse these evolving market dynamics to strengthen our clients’ investment strategies. We support investors and real estate stakeholders in identifying and capturing emerging opportunities within the German property market. 


Is energy certification really impacting real estate value?

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Energy performance certificates are now a regulatory requirement in many markets and an increasingly visible factor in residential decision-making. The key question is whether they are translating into **tangible value** for owners, investors and lenders.

At **Accumin**, we analysed data from several of the markets where we operate to understand how energy certification is influencing residential value in practice. The findings show clear differences across countries.

In **Spain**, a recent study conducted by **Tinsa España, Accumin Intelligence and IESE Business School** confirms the existence of a measurable green premium. On average, each improvement of one energy efficiency letter is associated with a 1.3% **increase in property value**, consistent across market segments. This is the first study to objectively demonstrate this relationship in Spain. The analysis also highlights remaining challenges related to the technical quality and consistency of issued certificates.

In **Germany**, the regulatory framework is among the most advanced in Europe. Even so, the rate of energy-efficient refurbishment remains below target, at **0.69%** per year, and adoption of efficient technologies has slowed. Market evidence points to administrative complexity and uncertainty around incentives as factors influencing renovation decisions, despite the potential for value uplift.

In **Chile**, the Energy Efficiency Law (Law 21.305) requires energy certification for all new residential buildings from 2025 onwards. **More than 170,000 certificates** have already been issued, supported by the development of green mortgage products that link financing conditions to energy performance.

In **Mexico**, there is still no mandatory energy certification system. Some developers and financial institutions apply voluntary standards such as LEED or EDGE, but **fewer than 5% of new residential units** currently fall under any recognised sustainability scheme.

Across markets, one conclusion stands out. Energy certification can influence asset value when it is **robust, credible and consistently applied**. Its impact depends less on regulation alone and more on technical soundness, traceable data and market confidence.

Oodit achieves ISO/IEC 27001 certification, strengthening its commitment to information security

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**Oodit** has officially achieved **ISO/IEC 27001 certification**, the leading international standard for information security management systems.

This milestone highlights Oodit’s strong commitment to protecting sensitive data and ensuring the highest standards of **risk management, control and information security**, providing a secure and reliable environment for partners and clients.

For **insurers, brokers and GRC leaders**, this certification delivers additional confidence in how Oodit manages information security across all areas, from infrastructure and platform architecture to internal processes and regulatory compliance.

Tinsa Chile by Accumin achieves ISO/IEC 27001 certification

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**Tinsa Chile by Accumin** has obtained **ISO/IEC 27001 certification**, the leading international standard for information security management systems.

This certification marks a significant step forward in strengthening data protection, risk management and cybersecurity practices across the organisation. It reinforces Tinsa Chile by Accumin’s commitment to quality, trust and continuous improvement in an environment where information security is increasingly critical.

The achievement was made possible thanks to the leadership and dedication of **Osvaldo Painamil** and the IT team at Tinsa Chile by Accumin, whose work was key to reinforcing systems and ensuring robust data protection throughout the certification process.

Spain’s coastal market remains resilient, according to the Coastal Property 2025 report

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Real Estate price transparency

[The Bank of Spain and the Ministry of Housing have recently signed a cooperation agreement to improve the analysis of the housing market in Spain.](https://www.europapress.es/economia/construccion-y-vivienda-00342/noticia-banco-espana-ministerio-vivienda-colaboraran-mejora-analisis-mercado-vivienda-20250630145420.html) This agreement aims to strengthen the quality of the information available, foster collaboration between both institutions, and advance toward a deeper and more structured understanding of the real estate and housing sector. Among its objectives are the creation of a shared data space and the joint development of analytical projects.

Reinforcing this move toward greater market insight, [the Bank of Spain has also entered into a new agreement with the General Council of Notaries](https://www.eleconomista.es/legal/noticias/13466847/07/25/el-consejo-general-del-notariado-y-el-banco-de-espana-firman-un-convenio-para-reforzar-el-analisis-del-mercado-inmobiliario.html). This collaboration is designed to further strengthen real estate market analysis by leveraging the precise and detailed data generated through notarial activities, complementing the broader push for enhanced data quality and research.

At Accumin, we see this development as an opportunity to improve transparency and build trust across the entire residential ecosystem; including a genuine conversation we believe is essential: the need to improve transparency around actual sale prices as a lever for a less opaque and a more precise and trustworthy sector. 

We’ve been working for some time with ﬁnancial institutions and other sector stakeholders to promote more accurate, data-driven, and calibratable models. Spain has a complex system in terms of access to real sale price information: the data exists, but it is subject to access restrictions, aggregation, and time lags. Even so, we believe there is room for progress — even without major legislative changes.

There are useful examples across Europe. In the United Kingdom, actual sale prices are openly accessible to all market participants. In Germany, although the real sales prices data is not public, there are systems in place so that appraisal ﬁrms and banks have access to real data allowing them to improve the quality and consistency of their valuations and risk assessments. Both models show that there are viable ways to make better use of available information and raise industry standards.

Improving transparency beneﬁts all stakeholders in the residential ecosystem: citizens and consumers, who can make better-informed decisions; ﬁnancial institutions, which can manage risk more effectively; and supervisory authorities, which gain more reliable tools to assess market conditions.

The recent announcement from the Bank of Spain and the Ministry of Housing opens the door to further progress in this direction. Not only from an institutional standpoint, but as part of a broader cultural and technical shift already underway.

At Accumin, we will continue contributing our experience, technological capabilities, and international perspective to support the evolution and trust on a real estate and housing market that is more efﬁcient, more transparent, and better aligned with the real needs of all its participants.

Accumin joins the United Nations Global Compact

Price per square metre in Chile continues to rise in new housing despite stabilisation in total values

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Tinsa Colombia by Accumin achieves ISO/IEC 27001:2022 certification

**Tinsa Colombia by Accumin** has achieved **ISO/IEC 27001:2022 certification**, the leading international standard for information security management systems.

The certification confirms that the company’s processes and systems meet the most demanding requirements for information protection and risk management, strengthening the security of data belonging to clients, employees and partners.

This milestone was made possible by the work of the local team, led by **Andrés Ariza Dupont**, together with the IT team at Tinsa Colombia by Accumin, who delivered a rigorous implementation aligned with international standards throughout the certification process.
At **Accumin**, this achievement forms part of a broader commitment to applying consistent security, control and reliability criteria across all markets in which the group operates.


Tinsa Spain IMIE local markets Q2 2025

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on-geo days 2025: insights, perspectives and connections from across the industry

The **on-geo days 2025**, organised by **on-geo by Accumin**, brought together real estate and valuation professionals for two dynamic days focused on knowledge sharing, dialogue and community building.

The event welcomed a strong line-up of speakers from across the industry, including professionals from **CBRE, JLL**, as well as representatives from leading associations, specialist firms and real estate analytics companies.

Special thanks were extended to the host venues, including the **Dorint Hotel am Dom in Erfurt**, as well as to the exhibitors and partners of the Street Drink Festival, whose collaboration was essential to the success of the event.

A particularly heartfelt thank-you goes to the internal on-geo team, whose dedication and hard work made the event possible.

Following this successful edition, on-geo is already looking ahead to **2026**, continuing its commitment to knowledge, collaboration and innovation; same city, new location.

Tinsa Digital, Deyde Datacentric and urbanData Analytics join forces in Accumin Intelligence

Spanish shore housing report 2025

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Accumin sponsors NPL Europe in London

Accumin was pleased to take part as an official sponsor in the 10th annual edition of the NPL Europe Conference, organised by Smith Novak in London. The event brought together more than 400 key stakeholders from 25 countries across the non-performing loans industry to discuss the latest developments, trends, and innovations shaping the sector. 

As part of our commitment to driving innovation, technology, and data in a constantly evolving market, several Accumin representatives attended the event to showcase the strength of our globally scalable data solutions in supporting asset analysis and decision-making.


**Javier Ventas**, Director of urbanData Analytics by Accumin, chaired the **Servicing: Ops & Tech** experts forum, on the latest market developments and trends in AI and technology services. He was joined by **Julio Jose Prado**, Board Advisor at Relational; **Mark Oppermann**, Chief Revenue/Marketing Officer & Co-Founder at Webio;  Hardev Tumber, Group Head of Collections and Recoveries at Revolut and **Javier Morilla**, Director of Technology and Operations at Diglo Servicer.

Accumin was also represented in the event by Maarten de Haas, Global Head of Value & Advisory and Manuel Hurtado, Manuel Hurtado, Global Head of Intelligence. 

Accumin will also be sponsoring the upcoming NPL Iberia Conference, taking place in Madrid on 22 May.


An overview of mortgage lending in 2024 in Mexico

New construction report Spain 2025

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Accumin and IESE prove the link between energy efficiency and home value in Spain

Spain's largest property valuation company, Tinsa by Accumin, the data and market analytics platform Accumin Intelligence, and IESE Business School have published the first report to statistically demonstrate the impact of energy efficiency on house prices in Spain, isolating the influence of other correlated variables.

The study, 'Energy Performance and Residential Property Value in Spain', is based on a representative sample of 243,414 properties collected between 2012 and 2024. It shows that energy efficiency has a significant and positive impact on the value of homes, consistently across different regions, property types, price ranges and ages.

For each of the dwellings, the variables of energy performance certificate, surface area, age, location, construction characteristics and valuation were analysed. Using discontinuity regression design, the authors were able to isolate the specific impact of energy efficiency on house value from other correlated factors.

More efficient homes also tend to be more modern, with better construction quality and higher prices,' explains Cristina Arias, Director of the Tinsa by Accumin Research Department and one of the authors of the report. At first glance, it is difficult to distinguish whether the market places a higher value on energy-efficient properties because of their energy-efficiency characteristics, thus incorporating the value of the energy savings that the property will provide in the future, or whether, on the other hand, the higher value is due to other factors related to construction quality, which are paid for during construction or renovation and are more tangible at the time of purchase. When analysing energy efficiency, it is common to ignore these correlations, leading to misleading results.

Arias emphasises that the model captures how houses that are structurally the same, differing only in the letter of their energy certificate, have different values. The impact is therefore exclusively due to the improvement in the energy rating, isolated from the influence of other variables," he explains.

The results of this study, which includes a complete analysis of the efficiency of the Spanish housing stock by age, type or climate zone, show the existence of a 'green premium' in the Spanish housing market, where better CO₂ emission ratings translate into higher property values.

Here, the 'green premium' is defined as the percentage increase in the price of housing associated with an improvement in the energy rating of the property. This concept reflects how the market positively values properties with higher levels of energy efficiency, as they incorporate both future savings in energy costs and a contribution to environmental sustainability," says Arias.


Looking at the whole sample and averaging across all letter transitions, it is estimated that a one-letter improvement in energy efficiency increases the price of a home by an average of 1.3%.

A larger impact is observed for the transitions of properties belonging to efficient categories (C-A) compared to transitions between inefficient categories (G-D). For example, there is an increase of 1.2% when moving from E to D, 2.1% when moving from B to A and up to 3.3% when moving from C to B.

'The study shows that the increase in value associated with greater energy efficiency is not limited to the higher-priced properties in the premium or luxury segment, nor to detached houses as opposed to apartment blocks, nor to specific locations, but is an attribute that is valued in all market categories,' says Arias.

##### Growing trend

The study concludes that energy efficiency contributes to property revaluation. Although it currently has a moderate direct impact on the value of housing, its importance is consistent across all segments, and it is positioned as a key factor in determining market prices.

Historical analysis shows a growing trend in ‘green premium', which corresponds to a higher valuation of sustainability, due to both the environmental awareness of housing demand and the application of stricter regulations on energy efficiency.


The results suggest that we are at the beginning of an upward trend in the valuation of efficient properties and a relative devaluation of inefficient ones.

It is reasonable to expect that the importance of energy efficiency will gradually increase as stricter regulatory policies on CO₂ emissions and energy consumption are applied. For example, the introduction of more demanding European and national regulations, such as the recent EU Energy Efficiency Directive and its transposition into Spanish legislation, will force owners to invest in improving the energy performance of their properties,' says Cristina Arias.

Access the full report

The interaction between the operational savings generated by improvements in energy efficiency, regulatory standards and greater environmental awareness among consumers will contribute to increasing the 'green premium' in the coming years, positioning energy efficiency as a strategic factor for the future of the real estate sector, concludes the study.

##### About Tinsa by Accumin and Accumin Intelligence

Tinsa by Accumin is the largest company specialised in the valuation of real estate and personal assets in Spain. The company, which has the largest database of real estate assets in the country and the most extensive network of valuers, also offers real estate consultancy services in urban planning, sustainability, market analysis and feasibility studies for investment projects.

Accumin Intelligence provides insights and recommendations for the property market and other industries, based on the most extensive and carefully selected data collection, designed to facilitate and optimise decision-making. In the energy sector, Accumin Intelligence has been chosen by the Ministry for Ecological Transition and the Demographic Challenge (MITERD) to design, build and validate a unified database of energy certificates at national level.


The housing energy rating (CEV) will be a requirement for new homes in Chile

Real Estate market trends for 2025: Tinsa Mexico by Accumin

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Persch Consult by Accumin at EXPO REAL 2024

**Persch Consult by Accumin** had a prominent presence at **Expo Real 2024**, the leading international real estate event. During the fair, the company not only engaged in numerous strategic discussions with industry professionals but also received the prestigious Approved by HypZert GmbH trophy. 

The Persch Consult by Accumin team was represented by key members including **Christian Schuhmann MRICS, Steffen Berger FRICS, Marios Antonios Batsilas FRICS, Marcus Steede, Daniel Risso**, and **Eileen Winterholt**, who played a vital role in building new partnerships and promoting the company’s services.

Expo Real is the most important trade fair for the real estate industry and therefore offers a fully comprehensive overview of developments, topics, innovations and solutions in the real estate industry. In this way, it provides the necessary orientation in a time of upheaval.


Acumin sponsors the RICS Built Environment European Summit 2024

Tinsa Mexico by Accumin obtains the ISO 27001 certification for information security 

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Persch Consult by Accumin at Expo Real 2024

Accumin participated as Silver Sponsor in the second edition of the RICS Built Environment European Summit, held on 14 and 15 October at the Azkuna Zentroa in Bilbao (Spain). The event, which brought together 300 professionals, explored how the property sector, and cities in particular, can move towards a more sustainable context in line with global objectives.

Accumin was well represented at the event: **Maarten de Haas**, Global Head of Value & Advisory; **Manuel Hurtado**, Global Head of Intelligence; **Belén Dávila**, Director RICS Value & Advisory Services at Tinsa España by Accumin; **Raquel Gómez**, Head of Valuations & RE Specialist in urbanData Analytics (uDA) by Accumin; and **Pedro Mestre**, Director of PVW Tinsa by Accumin.

The debate revolved around topics such as ESG, sustainability, taxonomy, renovation, urban transformation or the risks involved in raising stakeholder awareness of the importance of socially responsible investment, the decarbonisation of the real estate sector, the integration of sustainability in investments or the concept of climate-resilient cities.


The exchange of ideas and networking led to conclusions such as:
- To achieve carbon neutrality by 2050, it will be necessary to renovate the existing building stock, as 85% of the current buildings will still be standing by that date.
- Brown risk or green premium? Although there is currently no evidence of an immediate fall in the value of non-green assets, there is a growing perception that an asset that does not meet a high standard of energy efficiency has fewer potential buyers than others.
- Reducing consumption, improving energy efficiency, reusing materials and finding more efficient and technological models for developing property products are some of the challenges facing the various players.
- The impact of regulation and legislation, standards and risk management play an important role and are seen as a turning point for the sector.
- Value, data and risk form a triangle that puts Accumin on the right track to contribute to the sustainable development of real estate.


Accumin holds its Strategy Days in Madrid

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Persch Consult obtains the EcoVadis Gold Medal

**Persch Consult GmbH | Chartered Surveyors**, a **Tinsa Group** company, has been awarded the Gold Medal by **EcoVadis**, recognizing its commitment to sustainability and corporate social responsibility. This accolade places Persch Consult among the top 5% of companies in the real estate and housing sector assessed by EcoVadis, reaffirming the dedication to ethical business practices and sustainable development.

EcoVadis is a global sustainability rating platform that evaluates companies' performance in environmental, social, and ethical dimensions. The comprehensive assessment covers 21 criteria across four themes: Environment, Labour & Human Rights, Ethics, and Sustainable Procurement.

Achieving the Gold Medal is the result of a concerted effort across all levels of Persch Consult organization and the Tinsa Group. This is the second time that Persch Consult has received an EcoVadis medal, whereas last year it received the Bronze Medal.
Receiving the Gold Medal from EcoVadis is not just a badge of honor, it represents an ongoing commitment to sustainable growth. 
