Top Developers Boost Deliveries by 38%

April 22, 2025 3 min read

Spain’s leading residential developers significantly ramped up activity in 2024, delivering a total of 21,375 homes—a 38.6% increase compared to the previous year. This marks a major milestone for the sector, driven by strong demand for new housing amid rising construction costs.

Market Leaders Take the Lead

Three companies—Aedas Homes, Neinor Homes, and Culmia—accounted for 46.6% of all homes delivered. Aedas Homes emerged as the top performer, delivering 5,211 units, the highest figure seen in the Spanish housing market in the last 15 years. This represents a 77.4% year-on-year increase, largely fuelled by its involvement in public-private partnerships for affordable rental housing, which made up 40% of its total deliveries.

Neinor Homes ranked second with 2,397 units, despite a 6.3% drop compared to 2023. Of these, 1,870 came from Neinor’s own portfolio, including 1,519 for sale and 315 for rental. The remaining 527 units were delivered in Q4 2024 from Habitat’s portfolio, which Neinor has managed since September.

Culmia took third place with 2,361 homes delivered—a fourfold increase from the 537 units delivered in 2023. Notably, 1,763 of these were affordable units, underlining the company's focus on accessible housing.

Strong Performances Across the Board

Vía Célere broke its own delivery record with 2,270 homes, an 11.8% increase. Of these, 1,534 were for sale and 736 were for rent. The growth also helped attract investment, with owner Värde Partners raising €900 million to recapitalize the business.
Metrovacesa achieved a new high with 1,996 homes delivered, nearing the 2,000 mark ahead of schedule. Over 1,200 of these units were handed over in the final quarter alone, with major contributions from six developments in Isla Natura, Palmas Altas (Seville), the company’s largest residential project.
Pryconsa saw a remarkable 79% increase in deliveries, totalling 1,760 homes. The company expects to deliver 2,270 homes valued at €750 million over 2025.

Resilient Growth Despite Cost Pressures

Despite persistent inflation in construction costs—up 4.2% in residential building, compared to a 2.8% overall inflation rate—the sector managed to scale up production. This cost rise was mainly driven by higher prices for materials and labor.

Mid-Tier Players Also Gained Ground

Árqura Homes, owned by Sareb, delivered 1,650 units, slightly up from 1,620 in 2023.
Kronos boosted deliveries by 20%, reaching 1,500 homes, and continues to manage over 40 projects across various development stages.
Acciona’s real estate division delivered 1,119 homes, a 55.4% jump from the previous year’s 720 units.

Amenabar rounded out the top ten, delivering 1,111 homes, a 4% decrease from 2023. However, including third-party construction through its building arm, the company handed over 1,366 units last year.

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