Else Beekman
With homeownership increasingly out of reach for younger generations in Spain, family support is playing a growing role in providing access to housing. A new report by the General Council of Notaries (CGN) concludes that donations and inheritances of homes have seen significant growth in recent years.
Between 2020 and 2025, the number of donated homes rose by 18.5%. Inherited properties increased by 12.8% in the same period. These transfers now account for over 60% of all property purchases recorded in the first half of 2025. This points to a possible shift in how people, especially younger Spaniards, are gaining access to housing.
“The rising cost of housing per square metre and limited savings capacity among young households have made intergenerational transfers more relevant than ever,” the report states.
From January to June this year, 26,923 homes were donated. That’s 1.7% more than in the same period of 2024. While modest, this increase continues a sharp upward trend: since 2017, the number of annual housing donations has surged by nearly 68%, from 32,623 to 54,735 in 2024.
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Inheritance figures also climbing
Inheritance rates have also grown, albeit more steadily. Over the past few years, inherited homes have stabilised at around 400,000 annually, up from 358,053 in 2019 and 335,888 in 2017. During the first half of 2025, notaries recorded 202,923 inherited homes. That is a slight dip of 2.6% year-on-year. However, if the current pace continues, the annual total is on track to surpass 2024’s 403,854.
The CGN notes that these trends are set to continue due to Spain’s ageing population. “Inheritance and, increasingly, donation appear to be becoming key channels for younger generations to access housing,” the report observes.
A demographic shift
Spain’s inverted population pyramid is playing a crucial role. As older generations pass away, smaller and younger generations are inheriting more wealth, according to Marina García. She is an analyst at consultancy Afi. She points to a possible “accelerated wealth transfer” driven by soaring property prices outpacing wages.
“Vulnerable groups, particularly the young, are struggling to enter the housing market. As a result, families may be bringing forward donations to secure housing for their children or grandchildren,” García explains.
Afi’s study on demographics, housing, and wealth inequality, published by the Fundación Afi Emilio Ontiveros, estimates that millennials will inherit an average of €250,000. This is 41% more than the baby boomer generation. Adjusting for asset revaluation, this gap grows to 69%. This is partly due to greater wealth accumulation among the older generation. Furthermore, fewer heirs have to share that wealth.
Family support widens the wealth gap
However, the distribution of this intergenerational wealth is uneven. The Bank of Spain reports that the wealthiest 10% of households control 52.7% of the country’s family assets. As donations and inheritances become more prominent as a path to housing, those without familial support may be left further behind.
García highlights that much of Spain’s population growth stems from immigration, which tends to involve lower-income households. “This group is less likely to benefit from inheritances or donations, which could widen inequality even further,” she warns.
Decline in young homeownership
Property has been a major driver of wealth inequality. “The main reason for the widening wealth gap is the revaluation of real estate assets,” García notes. Data from Spain’s National Statistics Institute (INE) reveals a sharp decline in homeownership among younger people. In 2025, just 53% of those aged 30 to 44 own their home, down from nearly 75% fifteen years ago.
The shift towards renting is particularly evident among younger adults. Half of under-30s and one-third of those in their thirties are tenants, as rental accommodation increasingly replaces ownership as the norm.
García argues that housing is now at the heart of both intergenerational and intragenerational inequality. Therefore, she calls for broader access to social housing, investment in cost-effective construction methods, and policies that help young people secure stable, well-paid employment. She believes these steps are essential to close the housing and wealth gaps.
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