Chapter

Spain property prices: what the official data shows

§ 1Three ways to measure

Spanish price statistics answer three different questions. An index, such as the one the statistics office publishes, shows how prices change over time for a basket of homes of constant quality. An average price per square metre, such as the registrars publish, shows the level of prices actually registered. A forecast says what someone thinks will happen. Mixing them up is the most common error in articles about prices.

§ 2The index

The Housing Price Index for the second quarter of 2026, published on 7 September 2026, shows an annual rate of 12.2% for all dwellings and a quarterly rise of 3.4%. New dwellings rose 7.4% over the year and second-hand dwellings 12.9%. The house price index explains how to read it.

§ 3The level

The registrars report an average of €2,487 per m² for the second quarter of 2026, a series maximum that was 2.4% up on the previous quarter. New homes averaged €2,636 per m², and second-hand homes €2,448 per m². Price per square metre and the average price explain what these averages are and are not.

§ 4The year

Prices in 2026 puts the year’s figures together. It also explains the difference between nominal and real prices, since the central bank reports both for 2025.

§ 5The regions

Prices and their growth differ widely between regions. The statistics office lists the regional rates, which prices by region describes. A foreign buyer looking at the coast, an island or the interior should look at the region and at the town, and not at Spain.

§ 6The outlook

Price forecasts explains what forecasts are, who publishes them and why the central bank, which is the most authoritative official voice on risk, does not publish a price forecast in the report we read.

§ 7Using prices in a purchase

Use the statistics to set expectations. Then compare the asking price of the home with the prices of similar homes in the same street, using sold prices where you can get them from the lawyer or from the registers. The price you pay in the deed also drives the taxes in the costs section.

§ 8Currency and costs

Prices in this section are in euro and do not include the purchase taxes and costs. The costs section explains those, which are a significant extra to the price on the deed.

§ 9Keeping current

Price releases come every quarter. We record the release and the date we read it, and we update the pages when a new one arrives.

§ 10What to ask an agent

When an agent quotes a price or a trend, ask which source it comes from, what period it covers and whether it is an asking price or a sold price. Ask for sold prices of comparable homes in the same street. An agent who cannot answer is giving you an opinion, which is fine as long as you know that.

§ 11Why a low price is not always a good price

A home priced below its neighbours may have a problem: a legal defect, a debt, a missing licence, a community arrears or a poor structure. The legal process section explains the checks that find these. A price check and a legal check belong together.

§ 12Budget in three layers

First the price on the deed, then the purchase taxes and costs, then the cost of making the home yours: works, furniture, insurance and the first year of bills. Most budgets fail at the second and third layers, not the first.

§ 13Official calendars

Each issuer publishes a release calendar. Note the dates in your diary if you are buying within a few months, so that you read the new figure when it appears and not weeks later.

§ 14Back to the section

The chapter on market, prices and rules explains the market, the prices and the rules that affect foreign buyers.

§ 15Other chapters in this section

An overview of the market overview explains who buys and what the numbers say and more on rules and policy explains which rules apply to foreign buyers and which are only proposals.

General information only. This is not legal, tax or financial advice. Check your own situation with a qualified adviser.