Rural properties for sale in Spain – 2023

As per the recently published information from the INE on their Property Rights Transmission Statistics, a total of 148,621 transactions of rural properties were carried out in Spain throughout the year 2023. This number indicates that there were 9,297 fewer sales compared to the year 2022, resulting in a decrease of 5.9% in sales.

The transmission of rural estates through inheritance, on the other hand, continues to show record levels of activity, with over 181,000 inherited estates in 2023, representing a 2.3% increase compared to the previous year.

The slowdown in sales, which we mentioned in our previous article «Sales of Rural Properties in 2022» has been confirmed. This is also reflected in the negative trend in the market for «Buying and Selling of Rural Properties during the first half of 2023«. Clearly, factors such as adverse weather conditions or the significant increase in financing costs may have contributed to this negative behavior.

Despite this, we have confidence that the real estate market for rural estates in Spain remains strong and stable. In fact, the average number of sales in the past 5 years has been 144,000 per year, while the average for the past 10 years is 133,500 annual sales. Therefore, the figure of 148,621 estates sold in the year 2023, when viewed in a broader context, is quite positive.

Sale of rustic land by autonomous regions

The following table displays the evolution of sales for rustic farms in the year 2023 in each Autonomous Community, compared to the previous year.

There was a significant decrease in sales (almost a 10% fall) in three of the most important agricultural regions in Spain. However, the only large region that experienced an increase in the sales of rural properties in 2023 was the Valencian Community, with a 2.5% growth compared to the previous year. The Balearic Islands (-19.5%) and Navarre (-25%) saw a notable decrease in sales. On the other hand, the rural real estate market had a good performance in Asturias (+8.4%) and Madrid (+10.8%).

Rural properties sold by Provinces

The following table displays the sales of rural estates recorded in each Spanish province, ranked from highest to lowest activity.

Final thoughts:

• Valencia remains as the most active Spanish province in terms of number of agricultural property sales, almost doubling the volume of the rest of the provinces individually. Additionally, and contrary to the general trend, it has experienced a growth of more than 10% in the annual number of transactions.
• Burgos, one of the prominent provinces in the agricultural real estate market, has suffered a sales drop of around 19%.
• As for the rest of the provinces, most have seen a decrease in the pace of sales, except for the previously mentioned Valencia, Asturias, Leon, Coruña, Madrid, Cantabria, and Lugo.

If you are considering purchasing or selling a rural property in Spain and would like to know the exact price of any agricultural land in any national municipality, you can access RURAL DATA here. Within less than 1 minute, you will receive a fully automated comprehensive online valuation report of rural property.