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 (QESR368BIS) from Q1 1972 to Q1 2025 about Spain, residential, housing, real, 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, with Catalonia at 4,662 euros and the Community of Madrid at 4,493 euros. 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 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.

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.

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.

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.

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 - 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 August 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.

Key information about Spain Gold Production

• Spain Real Residential Property Price Index was reported at 92.085 2010=100 in Sep 2024.
• This records an increase from the previous number of 89.271 2010=100 for Jun 2024.
• Spain Real Residential Property Price Index data is updated quarterly, averaging 57.953 2010=100 from Mar 1971 to Sep 2024, with 215 observations.
• The data reached an all-time high of 118.686 2010=100 in Sep 2007 and a record low of 26.502 2010=100 in Sep 1982.
• Spain Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

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.

The commercial property price index for industrial properties in Spain experienced significant fluctuations between 2014 and 2023. The index recorded its highest value in the second quarter of 2016 at *** index points. In the third quarter of 2023, the index stood at ** index points, indicating a decline of five percent since the baseline year.

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).

Real residential property prices Y-on-Y, percent change in Spain, March, 2025 The most recent value is 9.31 percent as of Q1 2025, an increase compared to the previous value of 8.8 percent. Historically, the average for Spain from Q1 1990 to Q1 2025 is 1.84 percent. The minimum of -18.36 percent was recorded in Q3 2012, while the maximum of 15.84 percent was reached in Q1 2004. | TheGlobalEconomy.com

Located in the Region of Valencia, the province of Castellon had the lowest property prices of all Spanish coastal areas, with an average price of 1,000 euros per square meter as of the first quarter of 2022. Castellon was also the Valencian province with the lowest average price of urban land. Also on the Mediterranean coast of Spain, Almeria ranked second on the list, with an average price per square meter of 1,100 euros, followed by another Valencian province, Valencia, which featured an average property price of just over 1,200 euros.

The other side of the coin: the most expensive coastal areas

Out of the four main islands that comprise the Balearic province, two are listed as the most expensive coastal areas of Spain. Ibiza and Formentera’s coasts ranked as the least affordable coasts in terms of property prices, with their average price per square meter amounting to nearly 4,000 euros. The Basque province of Gipuzkoa was the second most expensive coastal area.

Spain: the rebirth of a broken property market

After a long period of time in which Spain’s real estate prices increased sharply, the market was hit by the global financial crisis of 2007, making the Spanish property bubble collapse and damaging home value. It can be seen that real estate prices in Spain initiated a solid recovery in 2015, after the house price index fell to 96.27 index points in 2013. 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.

ES: House Price Index: Nominal: sa data was reported at 161.768 2015=100 in Sep 2024. This records an increase from the previous number of 158.097 2015=100 for Jun 2024. ES: House Price Index: Nominal: sa data is updated quarterly, averaging 47.834 2015=100 from Mar 1971 (Median) to Sep 2024, with 215 observations. The data reached an all-time high of 161.768 2015=100 in Sep 2024 and a record low of 1.828 2015=100 in Dec 1971. ES: House Price Index: Nominal: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Spain – Table ES.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Quarterly. Whole country; Seasonnally adjusted by OECD, using the X-12 ARIMA method; Residential property prices, sales of newly-built and existing dwellings, all types of dwellings The source for recent figures (from 2005Q4) is same as the OECD Residential Property Price Indices (RPPIs) - Headline indicators database. For the period 1987Q1-2005Q3, the used indicator is 'Residential property prices, all dwellings, per m2, NSA' from Bank of Spain. For the period 1975Q1-1986Q4, the used indicator is 'House prices in the capital city area' from Banco Hipotecario; Previously, this is OECD estimations. Sales

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.

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

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.