Housing Index in Spain increased to 2033 EUR/SQ. METRE in the first quarter of 2025 from 1972.10 EUR/SQ. METRE in the fourth 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.

Graph and download economic data for Real Residential Property Prices for Spain (QESR628BIS) from Q1 1971 to Q1 2025 about Spain, residential, HPI, housing, real, price index, indexes, and price.

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.

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 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).

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 July 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.

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.

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.

Avg Housing Price: Free Market: Barcelona data was reported at 3,300.100 EUR/sq m in Sep 2018. This records an increase from the previous number of 3,297.300 EUR/sq m for Jun 2018. Avg Housing Price: Free Market: Barcelona data is updated quarterly, averaging 3,071.100 EUR/sq m from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 3,950.200 EUR/sq m in Jun 2008 and a record low of 2,385.200 EUR/sq m in Mar 2014. Avg Housing Price: Free Market: Barcelona 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.

Residential Property Prices in Spain increased 11.36 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Spain Residential Property Prices.

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 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.

Avg Housing Price: Free Market: More than 5 Years Old: Ciudad Real data was reported at 951.800 EUR/sq m in Mar 2018. This records a decrease from the previous number of 953.500 EUR/sq m for Dec 2017. Avg Housing Price: Free Market: More than 5 Years Old: Ciudad Real data is updated quarterly, averaging 1,041.900 EUR/sq m from Mar 2010 (Median) to Mar 2018, with 33 observations. The data reached an all-time high of 1,730.100 EUR/sq m in Dec 2011 and a record low of 947.400 EUR/sq m in Sep 2014. Avg Housing Price: Free Market: More than 5 Years Old: Ciudad Real 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 Price Index YoY in Spain increased to 12.30 percent in the first quarter of 2025 from 11.40 percent in the fourth quarter of 2024. This dataset includes a chart with historical data for Spain House Price Index YoY.

Avg Housing Price: Free Market: More than 5 Years Old: Alicante data was reported at 1,122.200 EUR/sq m in Mar 2018. This records an increase from the previous number of 1,101.400 EUR/sq m for Dec 2017. Avg Housing Price: Free Market: More than 5 Years Old: Alicante data is updated quarterly, averaging 1,080.400 EUR/sq m from Mar 2010 (Median) to Mar 2018, with 33 observations. The data reached an all-time high of 1,461.800 EUR/sq m in Jun 2010 and a record low of 1,035.000 EUR/sq m in Mar 2014. Avg Housing Price: Free Market: More than 5 Years Old: Alicante 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 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.

Avg Housing Price: Free Market: Less than 5 Years Old: Badajoz data was reported at 1,155.800 EUR/sq m in Mar 2018. This records an increase from the previous number of 1,138.600 EUR/sq m for Mar 2016. Avg Housing Price: Free Market: Less than 5 Years Old: Badajoz data is updated quarterly, averaging 1,385.700 EUR/sq m from Mar 2010 (Median) to Mar 2018, with 19 observations. The data reached an all-time high of 1,617.400 EUR/sq m in Jun 2010 and a record low of 1,097.500 EUR/sq m in Dec 2013. Avg Housing Price: Free Market: Less than 5 Years Old: Badajoz 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 value of mortgages constituted in Spain has fluctuated notably since 2003 and in 2022, it amounted to 96.35 billion euros. Mortgages secured on dwellings accounted for the largest share of mortgage lending, whereas agricultural land and urban land plots comprised the smallest shares. The number of mortgage loans has increased year-on-year since 2013, except for 2020 when it declined slightly due to the coronavirus pandemic.