Spain’s residential property supply shrank at its fastest pace in more than 15 years, with the number of homes listed for sale on leading portal Idealista tumbling 20% in the second quarter from a year earlier. The drop marks the steepest contraction since at least 2007 and continued a multi-year slide in available stock; every provincial capital except Málaga recorded double-digit declines, according to the study. Madrid was among the hardest-hit markets. Listings in the capital fell 25%, while average asking prices in June jumped 25% year on year to a record €5,642 per square metre, underscoring a worsening affordability crunch. Other major cities such as Bilbao, Seville and Valencia also posted supply reductions of more than 20%. Analysts attribute the imbalance to years of under-building, rising population and a construction workforce that industry groups say is short by around 700,000 workers. With borrowing costs easing yet inventory still shrinking, economists warn that pressure on prices is likely to persist, complicating government initiatives aimed at expanding access to affordable housing.