Housing Index in Spain increased to 2094 EUR/SQ. METRE in the second quarter of 2025 from 2033 EUR/SQ. METRE in the first quarter of 2025. This dataset provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

House prices in Spain have risen year-on-year since 2014. The house price index measures the development of house prices, with 2015 chosen as a base year when the index value was 100. Between 2021 and 2023, the house price index in Spain rose by eight percent for new housing and 3.2 percent for existing housing. Overall, newly built housing has appreciated more than existing homes.

The Spain Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums and Villas & Landed Houses), Price Band (Affordable, Mid-Market and Luxury), Business Model (Sales and Rental), Mode of Sale (Primary and Secondary) and Key Cities (Madrid, Barcelona, Catalonia, Valencia Community, Andalusia – Malaga & Costa Del Sol and Rest of Spain). The Market Forecasts are Provided in Terms of Value (USD).

The house price index (HPI) in Spain has increased steadily since 2013, reaching a 10-year record value in 2023. In that year, the HPI reached a value of 167.33 index points for newly built and 144.19 index points for existing homes, meaning that house prices for new construction have risen faster than for existing homes. An index value of 160 suggests that house prices have risen by 60 percent since 2015 - the base year of the index. Catalonia, the Balearic Islands and Madrid were the Spanish regions where prices of both new and existing housing have risen the most in recent years.

Graph and download economic data for Real Residential Property Prices for Spain (QESR368BIS) from Q1 1972 to Q1 2025 about Spain, residential, housing, real, and price.

Key information about House Prices Growth

• Spain house prices grew 7.7% YoY in Feb 2025, following an increase of 6.6% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 2002 to Feb 2025, with an average growth rate of 3.6%.
• House price data reached an all-time high of 21.0% in Sep 2004 and a record low of -11.7% in Apr 2013.

After a long period of steady increase in real estate prices in Spain, the market was hit by the global financial crisis of 2007, resulting in the burst of the Spanish property bubble. House prices have since picked up and in 2023, the average square meter price reached 2,809 euros - just slightly below 2008 levels. Though prices have risen across the whole country, some regions, such as the Balearic Islands, Catalonia, Madrid, and Andalusia, experienced faster growth than others. Additionally, the gap between newly built and existing home prices has widened. Spain’s real estate market behind others The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Czechia and Portugal. Supply is a major factor influencing the price development. Many European countries suffer housing shortages due to sluggish construction activity, and Spain is no exception. In 2022, ranked among the countries with the lowest number of residential construction starts per 1,000 citizens in Europe. Buying vs renting As happens with many other countries, the affordability of buying a home and renting will differ considerably dependent on the area. In 2022, the average Spanish citizen needed between five and 18 years to purchase an average priced property in their region with their full salary, with Murcia and La Rioja being the most affordable regions. The house price to rent index shows that house price growth has been much faster than rental growth. That is good news for homeowners whose homes appreciate over time, but an issue for renters who are yet to purchase a property.

The Spain Commercial Real Estate Market Report is Segmented by Property Type (Offices, Retail and More), by Business Model (Sales and Rental), by End-User (Individuals / Households, Corporates & SMEs and Others) and by Geography (Key City) (Madrid, Barcelona, Valencia and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Spain Real Estate and Affordable Housing Market valued at USD 300 Bn, driven by urbanization, government initiatives, and foreign investments in key cities like Madrid and Barcelona.

Spain residential real estate market is valued at EUR 1.6 trillion, driven by urbanization, foreign investment, and demand in Madrid and Barcelona, with sustained price growth.

Spain Housing Market Indicators: Mortgage Credit data was reported at 654,802,321.000 EUR th in Mar 2017. This records a decrease from the previous number of 655,385,358.000 EUR th for Feb 2017. Spain Housing Market Indicators: Mortgage Credit data is updated monthly, averaging 389,106,901.000 EUR th from Jan 1989 (Median) to Mar 2017, with 339 observations. The data reached an all-time high of 1,099,307,341.000 EUR th in Dec 2009 and a record low of 37,194,360.000 EUR th in Jan 1989. Spain Housing Market Indicators: Mortgage Credit data remains active status in CEIC and is reported by Bank of Spain. The data is categorized under Global Database’s Spain – Table ES.EB003: Housing Market Indicators.

The Spain residential real estate market size was USD 145.18 Billion in 2022 and is likely to reach USD 264.67 Billion by 2031, expanding at a CAGR of 6.9% during 2023–2031. The growth of the market is attributed to the increase in construction as well as population.

Spain’s real estate market is posting a positive trend, especially in terms of demand. The revival in house sales was high in 2021. For instance, 468,000 transactions were completed by October 2021, a growth of 35.9% compared to 2020 and up by 8.3% on 2019. The activity in the residential sector was highest since 2008. A large part of this revival in demand has come from a reduction in pent-up demand and the forced savings accumulated during the months of lockdown and severely restricted travel, combined with highly favorable financing conditions, which make it more attractive to buy and invest in real estate assets. The residential sector is therefore on track to close 2021 with 545,000 sales in the year as a whole.

Before the pandemic began, the residential real estate market in Spain was growing at a healthy pace, which was then dented by Covid-19 as the construction of housing units came down. However, in 2021, the market was back on track with increase in construction.



As per the latest data from the Appraisal Society, it indicates that the price of new housing has remained stable, in a context of increased sales and improvement in economic indicators. The average price of new homes has grown 0.4% in Spain over the last 12 months to Euro 2,482 (approximately USD 2812) per square meter. This slight increase has been generalized and has been registered in 16 of the 17 autonomous communities.



The economic consequences of the Covid crisis made a dent in the real estate market, and has reflected in the 16.7% collapse of sales in Spain in 2020 to 419,898 transactions. As a result, experimental ways of life are introduced into the real estate market to compensate for the lack of social interaction between people.

Spain Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

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The Spain residential real estate market size reached approximately USD 165.79 Billion in 2024. The market is projected to grow at a CAGR of 5.80% between 2025 and 2034, reaching a value of around USD 291.35 Billion by 2034.

Spain Housing Market Indicators: Mortgage Credit: YoY data was reported at -4.426 % in Mar 2017. This records an increase from the previous number of -4.518 % for Feb 2017. Spain Housing Market Indicators: Mortgage Credit: YoY data is updated monthly, averaging 14.836 % from Jan 1990 (Median) to Mar 2017, with 327 observations. The data reached an all-time high of 28.022 % in Jan 1990 and a record low of -14.302 % in Sep 2013. Spain Housing Market Indicators: Mortgage Credit: YoY data remains active status in CEIC and is reported by Bank of Spain. The data is categorized under Global Database’s Spain – Table ES.EB003: Housing Market Indicators.

The Spanish residential real estate market, valued at €166.01 million in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 6.90% from 2025 to 2033. This growth is fueled by several key drivers. Increased tourism and immigration are boosting demand, particularly in major cities like Madrid, Barcelona, and Valencia. A growing younger population and a shift towards urban living further contribute to the market's dynamism. Government initiatives aimed at improving housing affordability and infrastructure development also play a significant role. However, challenges remain. Rising construction costs and limited land availability in prime locations could constrain supply. Furthermore, fluctuations in mortgage interest rates and broader economic uncertainty pose potential risks to market stability. The market is segmented by property type (apartments and condominiums, villas and landed houses) and key cities. Major players like MetroVacesa, Neinor Homes, AEDAS Homes, and Via Celere are shaping the competitive landscape, demonstrating both the consolidation and dynamism within the sector. The forecast for the Spanish residential real estate sector indicates continued growth, albeit potentially at a moderated pace in the later years of the forecast period. While the strong growth drivers are expected to remain, the influence of external factors like global economic conditions and potential regulatory changes should be considered. The segmentation analysis highlights the differing dynamics across property types and geographic locations. Areas like Madrid and Barcelona, with their strong economies and established infrastructure, are likely to continue attracting significant investment and showing higher growth rates compared to other regions. Analyzing these trends allows for a deeper understanding of investment opportunities and potential risks within specific segments of the market. Continuous monitoring of economic indicators, government policies, and consumer preferences is crucial for navigating this evolving landscape. Recent developments include: October 2022: A build-to-rent (BTR) cooperation between Layetana Living and Aviva Investors was established in Spain. According to the statement, the collaboration between Aviva and the Spanish developer Layetana will construct a more than EUR 500 million (USD 531.20 Million) residential portfolio, already securing its first development project. Based on the recommendation of international real estate consultancy Knight Frank, the partnership purchased a 71-unit residential building in Barcelona's Sants neighborhood. Construction is scheduled to begin at the end of 2023., September 2022: Berkshire Hathaway HomeServices, a global residential real estate brokerage franchise network, expanded its services in the Valencian Community. It is now running with Maryana Kim directing a new office in Denia, in the northern section of the Costa Blanca. It is the fourth facility that Berkshire Hathaway HomeServices Spain opened in 2022.. Notable trends are: Rise in International Property Buyers in Spain.

The Spain Office Real Estate Market Report is Segmented by Building Grade (Grade A, Grade B and More), by Transaction Type (Rental and Sales), by End Use (Information Technology (IT & ITES), BFSI (Banking, Financial Services and Insurance), and More) and by City (Madrid, Barcelona and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Residential Property Prices in Spain increased 12.29 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Spain Residential Property Prices.

The Spanish Manufactured Homes Market is Segmented by Type (Single Family and Multi-family). The report offers market size and forecast values (USD billion) for all the above segments.

Spain Housing Market Indicators: Financing under Special Housing Schemes: Percent of Total Lending for House Purchase data was reported at 4.270 % in Mar 2016. This records a decrease from the previous number of 4.350 % for Dec 2015. Spain Housing Market Indicators: Financing under Special Housing Schemes: Percent of Total Lending for House Purchase data is updated quarterly, averaging 6.150 % from Mar 1993 (Median) to Mar 2016, with 93 observations. The data reached an all-time high of 29.010 % in Mar 1993 and a record low of 4.270 % in Mar 2016. Spain Housing Market Indicators: Financing under Special Housing Schemes: Percent of Total Lending for House Purchase data remains active status in CEIC and is reported by Bank of Spain. The data is categorized under Global Database’s Spain – Table ES.EB003: Housing Market Indicators.

Spain - House price index was 12.30% in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Spain - House price index - last updated from the EUROSTAT on September of 2025. Historically, Spain - House price index reached a record high of 14.60% in December of 2006 and a record low of -16.10% in September of 2012.