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.

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.

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.

Graph and download economic data for Real Residential Property Prices for Spain (QESR368BIS) from Q1 1972 to Q3 2024 about Spain, residential, housing, real, and price.

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 Avg Housing Price: Free Market: Girona data was reported at 1,528.800 EUR/sq m in Sep 2018. This records an increase from the previous number of 1,521.000 EUR/sq m for Jun 2018. Spain Avg Housing Price: Free Market: Girona data is updated quarterly, averaging 1,954.000 EUR/sq m from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 2,828.700 EUR/sq m in Mar 2007 and a record low of 1,356.800 EUR/sq m in Jun 2016. Spain Avg Housing Price: Free Market: Girona 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 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.

Spain Housing Market Indicators: Mortgage Lending: Percent of GDP data was reported at 58.310 % in Mar 2017. This records a decrease from the previous number of 59.730 % for Dec 2016. Spain Housing Market Indicators: Mortgage Lending: Percent of GDP data is updated quarterly, averaging 52.430 % from Mar 1989 (Median) to Mar 2017, with 113 observations. The data reached an all-time high of 101.760 % in Dec 2009 and a record low of 14.820 % in Mar 1989. Spain Housing Market Indicators: Mortgage Lending: Percent of GDP 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 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 Commercial Real Estate Market is segmented by Type (Offices, Retail, Industrial, Logistics, Multi-family, and Hospitality) and Key Cities (Madrid, Valencia, Barcelona, Catalonia, Malaga, and Other Cities). The report offers market size and forecasts for the Spain Commercial Real Estate Market in value (USD Billion) for all the above segments.

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.

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.

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 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 Spain residential real estate market reach USD 165.79 billion in 2024 & projected to grow at a CAGR of 5.8% to reach USD 276.69 billion by 2034.

Spain Housing Market Indicators: Domestic Investment in Property: Index: 2000=100 data was reported at 80.140 2000=100 in Jun 2011. This records a decrease from the previous number of 80.980 2000=100 for Mar 2011. Spain Housing Market Indicators: Domestic Investment in Property: Index: 2000=100 data is updated quarterly, averaging 103.790 2000=100 from Mar 1995 (Median) to Jun 2011, with 66 observations. The data reached an all-time high of 154.120 2000=100 in Sep 2007 and a record low of 62.040 2000=100 in Jun 1995. Spain Housing Market Indicators: Domestic Investment in Property: Index: 2000=100 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 Avg Housing Price: Free Market: Alicante data was reported at 1,064.600 EUR/sq m in Sep 2018. This records a decrease from the previous number of 1,150.400 EUR/sq m for Jun 2018. Spain Avg Housing Price: Free Market: Alicante data is updated quarterly, averaging 1,258.600 EUR/sq m from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 2,002.900 EUR/sq m in Mar 2008 and a record low of 1,037.200 EUR/sq m in Jun 2017. Spain Avg Housing Price: Free Market: 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 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.