Housing Index in Spain increased to 1972.10 EUR/SQ. METRE in the fourth quarter of 2024 from 1921 EUR/SQ. METRE in the third quarter of 2024. 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.

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 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 (QESR628BIS) from Q1 1971 to Q4 2024 about Spain, residential, HPI, housing, real, price index, indexes, and price.

The Report Covers Residential Real Estate Market in Spain and is Segmented by Type (Villas and Landed Houses, Apartments, and Condominiums) and Key Cities (Madrid, Catalonia, Valencia, Barcelona, and Malanga, Among Others). The Report Offers Market Sizes and Forecasts in Value (USD Billion) for all the Above Segments.

Avg Housing Price: Free Market: Aragon data was reported at 1,179.900 EUR/sq m in Sep 2018. This records a decrease from the previous number of 1,186.900 EUR/sq m for Jun 2018. Avg Housing Price: Free Market: Aragon data is updated quarterly, averaging 1,188.000 EUR/sq m from Mar 1995 (Median) to Sep 2018, with 95 observations. The data reached an all-time high of 1,962.900 EUR/sq m in Mar 2008 and a record low of 570.600 EUR/sq m in Jun 1995. Avg Housing Price: Free Market: Aragon data remains active status in CEIC and is reported by Ministry of Public Works. The data is categorized under Global Database’s Spain – Table ES.P003: Housing Prices: Free Market: by Region and Major City.

Avg Housing Price: Free Market: More than 5 Years Old data was reported at 1,559.400 EUR/sq m in Mar 2018. This records an increase from the previous number of 1,550.700 EUR/sq m for Dec 2017. Avg Housing Price: Free Market: More than 5 Years Old data is updated quarterly, averaging 1,517.500 EUR/sq m from Mar 2010 (Median) to Mar 2018, with 33 observations. The data reached an all-time high of 1,835.500 EUR/sq m in Mar 2010 and a record low of 1,445.100 EUR/sq m in Sep 2014. Avg Housing Price: Free Market: More than 5 Years Old data remains active status in CEIC and is reported by Ministry of Public Works. The data is categorized under Global Database’s Spain – Table ES.P003: Housing Prices: Free Market: by Region and Major City.

House prices in Spain are forecast to fall in 2024, after increasing by 1.2 percent in 2023. Nevertheless, prices are expected to pick up in 2025, with an increase of one percent. The Portuguese housing market, on the other hand, grew by 5.5 percent in 2023, but was forecast to contract in the next two years.

Avg Housing Price: Free Market: Castile and Leon data was reported at 1,045.400 EUR/sq m in Mar 2018. This records a decrease from the previous number of 1,046.600 EUR/sq m for Dec 2017. Avg Housing Price: Free Market: Castile and Leon data is updated quarterly, averaging 959.700 EUR/sq m from Mar 1987 (Median) to Mar 2018, with 125 observations. The data reached an all-time high of 1,522.500 EUR/sq m in Mar 2008 and a record low of 268.907 EUR/sq m in Mar 1987. Avg Housing Price: Free Market: Castile and Leon data remains active status in CEIC and is reported by Ministry of Public Works. The data is categorized under Global Database’s Spain – Table ES.P003: Housing Prices: Free Market: by Region and Major City.

House prices in Spain have risen year-on-year since 2013. The house price index measures the development of house prices, with 2015 chosen as a base year when the index value was set to 100. In 2023, the index stood at 147.28 index points, meaning that since 2015, prices have risen by almost 42 percent. Overall, newly built homes saw appreciated faster than existing homes. 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.

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.

Avg Housing Price: Free Market: Less than 5 Years Old: Pamplona data was reported at 1,945.100 EUR/sq m in Dec 2017. This records a decrease from the previous number of 1,978.000 EUR/sq m for Sep 2017. Avg Housing Price: Free Market: Less than 5 Years Old: Pamplona data is updated quarterly, averaging 2,295.000 EUR/sq m from Mar 2010 (Median) to Dec 2017, with 15 observations. The data reached an all-time high of 3,110.800 EUR/sq m in Jun 2012 and a record low of 1,831.700 EUR/sq m in Sep 2016. Avg Housing Price: Free Market: Less than 5 Years Old: Pamplona data remains active status in CEIC and is reported by Ministry of Public Works. The data is categorized under Global Database’s Spain – Table ES.P003: Housing Prices: Free Market: by Region and Major City.

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.

The Spanish commercial real estate market, valued at approximately €XX million in 2025, exhibits robust growth potential, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5% through 2033. This expansion is fueled by several key drivers. Increased tourism, particularly in major cities like Madrid, Barcelona, and Valencia, is boosting demand for hospitality and retail properties. Furthermore, a strengthening economy and ongoing investments in infrastructure are creating favorable conditions for industrial and logistics development, particularly in strategically located areas near ports and transportation hubs. The burgeoning technology sector is also contributing to the growth, with increased demand for office spaces in key technology clusters. Segment-wise, the office sector, driven by both domestic and international companies, shows significant promise. Retail, while facing some challenges from e-commerce, remains a significant segment, particularly in prime locations within major cities. The logistics sector experiences strong growth, mirroring broader European trends in e-commerce and supply chain optimization. While challenges exist, such as potential interest rate fluctuations and economic uncertainty, the overall market outlook remains positive, supported by consistent foreign investment and a relatively stable political environment. However, certain restraints must be considered. The availability of suitable development land in prime city center locations is a key constraint, pushing developers towards peripheral areas or to pursue redevelopment projects. The impact of potential regulatory changes and evolving sustainability standards also present challenges to developers. Effective management of these challenges will be crucial for sustained market growth. The geographical spread of growth is notable, with significant activity concentrated in major cities like Madrid, Barcelona, and Valencia, though secondary cities are also experiencing increasing interest. The presence of major players like Merlin Properties, Klepierre, and Via Celere underscores the market's maturity and attractiveness to established investors. The continued expansion of the logistics and hospitality sectors, coupled with smart urban development initiatives, is poised to shape the trajectory of the Spanish commercial real estate market in the coming years. Recent developments include: December 2022: GAena, the Spanish public company in charge of general aviation airports in Spain, announced today a call for tenders for 86 duty-free shops, all of which are indivisible, at 27 airports in its network. The bidding documents include six lots in total, which is twice the number of lots available in the previous tender. According to a press release issued by Aena, the tender will double the number of lots to increase and favor competition among global operators. The total commercial space available will exceed 66.000 square meters, allowing for the development of economies of scale., June 2022: Allianz Real Estate, acting on behalf of several Allianz group companies, paid EUR 185 million (USD 196.95 million) for a portfolio of nine prime residential buildings in Madrid's Chamartn district. The transaction consolidates Allianz Real Estate's ownership of the larger block and expands its exposure to the highly attractive Spanish PRS sector, particularly in Madrid. It is located next to Castellana 200, a mixed-use office and retail asset already owned by Allianz Real Estate. The nine assets include 245 residential units as well as additional retail space.. Key drivers for this market are: Government Initiatives Promoting Affordable Housing, Economic Growth and Rising Disposable Incomes. Potential restraints include: Shortage of Skilled Labor, Fluctuating Construction Materials Costs. Notable trends are: Increasing demand for logistics property driving the market.

The average square meter price of new residential real estate in Spain was the highest in Catalonia and the Community of Madrid in 2024. In the second quarter of the year, both regions boasted home prices of over 4,000 euros per square meter. That was substantially higher than the average for the country, which amounted to 2,930 euros per square meter. Overall, house prices in Spain have been on the rise since 2016.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the rising base rate environment in the years since, which have inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Revenue is forecast to fall at a compound annual rate of 4.0% over the five years through 2024 to €588.2 billion, including an anticipated drop of 3.1% in 2024. However, profitability remains strong, with the average industry profit margin standing at an estimated 41.6% in 2024. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest hike, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact – properties in many areas aren’t suitable due to their lack of green credentials. Revenue is slated to inch upwards at a compound annual rate of 3.1% over the five years through 2029 to €651.3 billion. Although economic conditions are set to improve in the short term, elevated mortgage rates will continue to weigh on demand for residential property. However, the warehousing market is positioned for solid growth, benefitting from the rise in e-commerce. This is particularly relevant to Poland, which leads the EU warehouse market.

Avg Housing Price: Free Market: Avila data was reported at 983.100 EUR/sq m in Sep 2018. This records an increase from the previous number of 940.800 EUR/sq m for Jun 2018. Avg Housing Price: Free Market: Avila data is updated quarterly, averaging 1,409.600 EUR/sq m from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 1,976.000 EUR/sq m in Dec 2007 and a record low of 823.200 EUR/sq m in Jun 2016. Avg Housing Price: Free Market: Avila data remains active status in CEIC and is reported by Ministry of Public Works. The data is categorized under Global Database’s Spain – Table ES.P003: Housing Prices: Free Market: by Region and Major City.

The Spain manufactured homes market is projected to experience steady growth over the forecast period of 2025-2033, with a CAGR of 5.00%. The market size in 2025 is estimated to be XX million, and it is expected to reach XX million by 2033. The market growth is primarily driven by factors such as rising urbanization, increasing demand for affordable housing, and government initiatives promoting sustainable and modular construction methods. Key trends in the Spain manufactured homes market include the growing adoption of innovative materials and technologies, the increasing use of prefabricated components, and the emergence of net zero energy homes. The competitive landscape is characterized by the presence of several established players, including Modular Home, Modhouse Arquitectura Modular, Europa Prefabri, and Atlantida Homes. These companies are focusing on offering customized solutions, expanding their product portfolios, and investing in research and development to maintain their market share and meet the evolving needs of consumers. Recent developments include: December 2022 - CBRE Investment Management ("CBRE IM") acquired a new affordable residential asset in Madrid, Spain, on behalf of a fund it sponsors. The property is in San Sebastian de Los Reyes and has a total gross lettable area of 12,174 square meters. It is fully leased and consists of two adjacent buildings with 82 homes, 123 parking spaces, and 82 storage units. It was completed in 2009., August 2022 - Harrison Street and DeA Capital SpA (DEA) announced a new joint venture (JV) to develop built-to-rent (BTR) residential housing across Spain. The companies also announced the launch of their first project together, a seed portfolio of 441 BTR units spread across two properties in Seville. DEA Capital Iberia, DEA's Spanish subsidiary, will manage the portfolio's development and operations. JLL Spain served as a commercial advisor to the JV and the initial project acquisition.. Key drivers for this market are: Increase in Senior Population and Life Expectancy, Increase in Old Age Dependency Ratio. Potential restraints include: Lack of awareness of senior living options, Relatively small size of senior living population. Notable trends are: Increasing Home Ownership Driving the Market.

Spain Office Real Estate Market Report is Segmented by Key Cities (Madrid, Barcelona, Valencia, Seville, and Other Cities). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The Spain condominiums and apartments market, valued at approximately €XX million in 2025, is projected to experience robust growth with a Compound Annual Growth Rate (CAGR) exceeding 5.40% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, Spain's burgeoning tourism sector consistently demands increased accommodation options, driving investment in both new construction and renovations. Secondly, a growing urban population, particularly in major cities like Madrid and Barcelona, creates sustained demand for modern, comfortable housing. Thirdly, favorable government policies and incentives aimed at stimulating the real estate sector contribute to market dynamism. While challenges exist, such as fluctuating interest rates and potential construction material cost increases, the long-term outlook remains positive due to the strong underlying fundamentals of population growth and tourism. The market segmentation reveals significant regional variations. Barcelona and Madrid, as the largest cities, naturally dominate the market share, with Valencia, Malaga, and Catalonia also contributing substantially. Leading construction companies like Dragados Sociedad Anonima, Ferrovial Construccion SA, and Constructora San Jose SA play crucial roles in shaping the market landscape. Future growth will likely be influenced by evolving consumer preferences, including an increasing demand for sustainable and energy-efficient buildings, smart home technologies, and flexible living spaces. The market's continued success hinges on addressing challenges such as maintaining affordability in the face of rising construction costs and ensuring sustainable development practices. Recent developments include: Oct 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., Sept 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 was the fourth facility that Berkshire Hathaway HomeServices Spain opened in 2022.. Notable trends are: Rise in International Buyers in Spain.