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.

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.

La Rioja was the Spanish region where the pandemic impact on real estate prices was higher compared to the previous year, with a decrease of almost 16% in the last quarter of 2020. The only place in Spain where there was an increase in comparison with the pre-pandemic data was in the autonomous city of Melilla.

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.

Spain's house prices continued their decelerating growth in early 2020, as housing demand slowed down. In Q1 2020, nominal house prices grew by 3.2 percent year-on-year with real house prices growing slightly more. These figure are significantly lower than those in Q1 2019, signalling a slower pace than in previous years. Nonetheless, these figures are far cry from the financial crisis in 2008 and the early 2010s. Then, house prices decreased for five years in a row with house prices only increasing again since 2015.

According to the report, the province of Barcelona had the highest average housing price within the Costa Catalana as of the first quarter of 2022, reaching over 2,300 euros per square meter. Additionally, home prices in coastal provinces have also been broken down by cheapest and most expensive provinces.

Spain House Price Index: Balearic Islands and Canary Islands data was reported at 1,563.000 2001=1000 in Apr 2020. This records a decrease from the previous number of 1,667.000 2001=1000 for Mar 2020. Spain House Price Index: Balearic Islands and Canary Islands data is updated monthly, averaging 1,432.613 2001=1000 from Jan 2001 (Median) to Apr 2020, with 232 observations. The data reached an all-time high of 1,897.789 2001=1000 in Sep 2007 and a record low of 910.573 2001=1000 in Jan 2001. Spain House Price Index: Balearic Islands and Canary Islands data remains active status in CEIC and is reported by Tinsa. The data is categorized under Global Database’s Spain – Table ES.EB004: House Price Index: Tinsa: 2001=1000.

This statistic shows the house price index in Spain from the first quarter of 2016 to the second quarter of 2020. The house price index had a value of 126.98 in the quarter ending June 2020. This was a marginal increase from the value of the previous quarter.

Home prices grew between 2019 and 2020 in the three analyzed islands: Lanzarote, Gran Canaria and Tenerife. The island of Tenerife experienced the highest year-on-year change in property prices in the autonomous community of the Canary Islands, growing by 2.3 percent compared to the previous year. Additionally, home prices in coastal provinces have also been broken down by cheapest and most expensive provinces.

Spain House Price Index: Others data was reported at 1,485.000 2001=1000 in Apr 2020. This records an increase from the previous number of 1,417.000 2001=1000 for Mar 2020. Spain House Price Index: Others data is updated monthly, averaging 1,450.000 2001=1000 from Jan 2001 (Median) to Apr 2020, with 232 observations. The data reached an all-time high of 2,168.062 2001=1000 in Dec 2007 and a record low of 963.096 2001=1000 in Feb 2001. Spain House Price Index: Others data remains active status in CEIC and is reported by Tinsa. The data is categorized under Global Database’s Spain – Table ES.EB004: House Price Index: Tinsa: 2001=1000.

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.

Spain Market Capitalization: Spanish Stock Exchange: Annual: Real Estate Services data was reported at 30,249.494 EUR mn in 2024. This records an increase from the previous number of 26,844.799 EUR mn for 2023. Spain Market Capitalization: Spanish Stock Exchange: Annual: Real Estate Services data is updated yearly, averaging 27,310.547 EUR mn from Dec 2019 (Median) to 2024, with 6 observations. The data reached an all-time high of 30,809.236 EUR mn in 2019 and a record low of 25,141.498 EUR mn in 2020. Spain Market Capitalization: Spanish Stock Exchange: Annual: Real Estate Services data remains active status in CEIC and is reported by Bolsas y Mercados Españoles. The data is categorized under Global Database’s Spain – Table ES.Z002: Bolsas y Mercados Españoles: Market Capitalization.

Spain - Job vacancy rate: Real estate activities was 0.60% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Spain - Job vacancy rate: Real estate activities - last updated from the EUROSTAT on March of 2025. Historically, Spain - Job vacancy rate: Real estate activities reached a record high of 1.40% in June of 2023 and a record low of 0.10% in September of 2020.

Spain Spanish Stock Exchange: Index: Real Estate Services data was reported at 884.400 31Dec2018=1000 in Feb 2025. This records a decrease from the previous number of 922.920 31Dec2018=1000 for Jan 2025. Spain Spanish Stock Exchange: Index: Real Estate Services data is updated monthly, averaging 855.220 31Dec2018=1000 from Dec 2018 (Median) to Feb 2025, with 75 observations. The data reached an all-time high of 1,183.540 31Dec2018=1000 in Oct 2019 and a record low of 610.920 31Dec2018=1000 in Oct 2020. Spain Spanish Stock Exchange: Index: Real Estate Services data remains active status in CEIC and is reported by Bolsa de Madrid. The data is categorized under Global Database’s Spain – Table ES.Z011: Madrid Stock Exchange: Index.

Spain - Labour cost index: Real estate activities was 6.70 % year-on-year in September of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Spain - Labour cost index: Real estate activities - last updated from the EUROSTAT on March of 2025. Historically, Spain - Labour cost index: Real estate activities reached a record high of 23.80 % year-on-year in June of 2020 and a record low of -11.60 % year-on-year in June of 2021.

Spain GDP: VI: Services: Real Estate data was reported at 111.724 2020=100 in 2023. This records an increase from the previous number of 108.204 2020=100 for 2022. Spain GDP: VI: Services: Real Estate data is updated yearly, averaging 83.579 2020=100 from Dec 1995 (Median) to 2023, with 29 observations. The data reached an all-time high of 111.724 2020=100 in 2023 and a record low of 40.060 2020=100 in 1995. Spain GDP: VI: Services: Real Estate data remains active status in CEIC and is reported by National Statistics Institute. The data is categorized under Global Database’s Spain – Table ES.A022: ESA 2010: GDP: by Industry: Chain Linked: 2020=100: Volume Index: Annual.

The house price index (HPI) increased significantly throughout the analyzed period. The second quarter of 2020 registered the highest house prices, 26.9 points above the base year 2015.

The province of Valencia experienced the highest year-on-year change of home prices in the Spanish Costa Valenciana, growing by 3.5 percent. On the contrary, property prices in Alicante fell in 2020 compared to the previous year. Additionally, home prices in coastal provinces have also been broken down by cheapest and most expensive provinces.

• Acquisition for the home of some good: car or motorbike, home furnishings, household appliances or computers and small household appliances.
• Monthly savings capacity at home.
• Retrospective assessment of the household's economic situation (6 months). Reason for the positive and negative assessment.
• Number of unemployed and job-seeking people in the surrounding area. Its evolution since 6 months.
• Retrospective and prospective assessment of the possibility of improving or finding employment in Spain (6 months).
• Retrospective and prospective assessment of the economic situation in Spain (6 months).
• Prospective assessment of the probability of acquiring durable goods for the household (1 year).
• Evolution of the saving capacity of the household (1 year).
• Prospective assessment of the household's economic situation (6 months). Reason for the positive and negative assessment.
• Prospective assessment of inflation in Spain (1 year).
• Evolution of interest rates and house prices in Spain (1 year). Intention to buy a home in the next year.
• Level of studies completed by obtaining a degree and in progress from the person interviewed.
• Household size. Family relationship between household members. Number of persons in the household with income.
• Ideology scale of the interviewee.
• Time of acquisition of Spanish nationality. Level of knowledge of Spanish of the interviewee. Country of origin.
• Participation and remembrance of vote in the 2016 general election.
• Housing tenure regime.

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.