Housing price growth in Spain as of Q1 2025

Looking for information on current housing prices in Spain?

This post has the latest available data. It’s based on the report from Spain's Instituto Nacional de Estadísticas (National Institute of Statistics, INE) which was last updated on 6th June 2025.

Below, you'll find information on:

• Housing price growth in Spain as of Q1 2025

• Housing prices per square meter in Spain as of Q1 2025

• Housing price growth in Spain by region

The information is supplemented with graphs to help you find the data you’re looking for.

Cottage Properties is a real estate agency based in Spain, specialising in the sale of masias, castles and country houses in Catalonia and across Spain.

Spanish housing prices as of Q1 2025

According to the latest available data, housing prices in Spain have risen 12.2% year-on-year.¹

This housing price growth from Q1 2024 to Q1 2025 is the highest on record since Q1 2007. Housing prices had risen 11.3% year-on-year in Q4 2024, indicating a sustained increase in property values. 

The price data comes from Spain’s Housing Price Index (IPV) which tracks price changes in new and second-hand homes. The data is produced by the Instituto Nacional de Estadística (INE). It’s the most accurate data available and was updated on 6th June 2025.

To view the interactive map, you can open it in your browser using this link.

Spanish property prices by region (Q1 2025)

All 19 autonomous regions in Spain recorded increases in house prices. Of these, Andalusia and Melilla led the way with the highest year-on-year growth in Q1 2025, both reaching 14.0%, followed by Murcia (13.3%), Aragón (13.2%), La Rioja (13.2%), Asturias (13.1%), and Ceuta (13.1%).

Strong house price growth was also registered in the Canary Islands (12.4%), Castilla y León (12.4%), País Vasco (12.4%), Valencian Community (12.3%), Cataluña (11.7%), Madrid (11.6%), Navarra (11.4%), and Galicia (11.2%).

Meanwhile, Extremadura (10.9%), Castilla-La Mancha (10.4%), Cantabria (10.2%), and the Balearic Islands (10.0%) also saw solid increases, rounding out a nationwide trend of double-digit growth in residential property prices.

Spanish housing prices per square meter (Q1 2025)

Housing prices per square meter hit €2,226 in Q1 of 2025 in Spain, which is the highest figure on record.²

Annual growth of housing prices per square meter was 8.8% in Q1 2025. In the previous quarter (Q4 2024) the annual growth was 6.3%.

The data comes from the Estadística Registral Inmobiliaria (ERI) which is a quarterly report published by the Registradores de España, the official body of property registrars in Spain. It provides detailed, up-to-date insights into the real estate market, based on actual transactions recorded in Spain’s Land Registry (Registro de la Propiedad).

 Spanish property prices per square meter by region (Q1 2025)

House prices per square meter increased across almost all of Spain’s autonomous communities in Q1 2025, with Madrid posting the strongest annual rise at 11.6%, followed by the Balearic Islands (10.3%), Valencian Community (9.9%), Cantabria (9.3%), and Andalusia (9.7%).

Strong year-on-year growth was also recorded in Galicia (8.4%), La Rioja (8.0%), the Canary Islands (7.9%), and Murcia (7.5%), while Castilla y León (5.8%), Castilla-La Mancha (5.6%), and Aragón (5.4%) showed more moderate increases.

Some of the lowest growth rates were observed in Cataluña (4.5%), País Vasco (4.0%), Extremadura (4.8%), and Asturias (2.7%). Only Navarra recorded a negative change, with a slight decline of -1.4% year-on-year.

Sources

¹ Índice de Precios de Vivienda. Base 2015 – Primer trimestre de 2025, published by the Instituto Nacional de Estadística. Retrieved on 11 June 2025.

² Estadística Registral Inmobiliaria – 1er trimestre de 2025, published by the Registradores de España. Retrieved on 11 June 2025.

More information

For more information, visit our post on Spanish real estate trends & predictions for 2025.