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Spanish houses prices rose by +6.7% over the last 12 months: the top 20 markets!

30 May
2022
Spanish property prices evolution since 1995
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Our Spanish house price quarterly analysis up to March 2022: +6.7% Yr/Yr

 

Welcome to one of the most detailed resource available on Spanish property prices. In this report, you will find all our resources on the 20 biggest Spanish real estate markets.

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  1. Spanish property prices evolution over the last quarter

    Let’s start with the Spanish real estate national average: price per square meter is 1,734 on average in Spain as of end of March 2022. This means that Spanish real estate prices evolved

    • by +6.7% during the last year from €1,625/m² (+4.4% 3 months ago)
    • by +2.4% during the last quarter (+2% 3 months ago)

     

    Real estate prices in Spain are on a strong recovery path since 2014. Of course, transactions were strong up to early 2020, the start of Covid. As the Corona crisis started, prices started to decrease from June 2020. Of course, due to the lockdowns and to the Corona situation, transaction volume was lower in 2020 but activity is back: 672,289 properties were sold in 2021, a 38% year on year increase. Have a look at our interactive chart.

     

  2. Spanish property prices evolution over the last year

     

    The Spanish cities with the strongest price increases for the year:

    Sorted by price evolution over the last 12 months, 

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    Tarragona 1 404 € 11,1% 3,3% 16 461 48%
    Girona 1 690 € 10,6% 3,1% 14 720 41%
    Balears (Illes) 2 611 € 10,5% 2,5% 17 757 58%
    Málaga 1 981 € 9,8% 3,1% 38 415 49%
    Madrid (Comunidad de) 2 846 € 9,5% 3,1% 88 223 33%
    Toledo 905 € 8,9% 2,8% 11 673 39%
    Alicante/Alacant 1 411 € 8,7% 2,6% 47 173 41%
    Valencia/València 1 299 € 8,6% 2,2% 41 372 43%
    Huelva 1 173 € 8,2% 1,0% 8 691 44%
    Comunidad Valenciana 1 320 € 8,2% 2,0% 101 078 43%
    Sevilla 1 412 € 7,9% 2,6% 25 274 39%
    Zaragoza 1 362 € 7,6% 1,7% 12 414 27%
    Andalucía 1 400 € 7,4% 2,3% 136 270 42%
    Cataluña 2 160 € 7,1% 3,3% 104 834 41%
    Almería 1 162 € 6,9% 0,4% 14 757 44%
    TOTAL NACIONAL 1 734 € 6,7% 2,4% 672 289 38%

    while the top performers for the last year up to end of December were:

    City / Region Price Number of Transactions Transaction Evolution Yr Price Evolution
    Huelva. 1 162 € 8 204 43% 7,9%
    Madrid (Community of) 2 760 € 85 538 28% 7,2%
    Tarragona 1 358 € 15 769 46% 7,0%
    Girona. 1 639 € 13 938 35% 6,8%
    Valencia 1 271 € 39 824 41% 6,6%
    Lleida 1 037 € 6 066 51% 6,4%
    Alicante 1 375 € 43 157 24% 6,4%
    Valencian Community 1 295 € 94 997 34% 6,3%
    Balearic Islands 2 546 € 15 856 32% 6,2%
    Malaga 1 922 € 34 394 32% 6,1%
    Castellón / Castelló 1 106 € 12 016 50% 5,2%
    Murcia (region of) 1 027 € 22 631 30% 5,1%
    Catalonia 2 091 € 100 765 36% 5,0%
    Valladolid. 1 288 € 6 466 32% 4,8%
    Spain average 1 694 € 639 452 32% 4,4%

    The worst performers for the year:

    Sorted by price evolution over the last 12 months, third column

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    Zamora 799 € -4,2% -2,1% 2 021 42%
    Araba/Alava 1 985 € -1,6% -2,5% 3 360 33%
    Soria 908 € -0,9% 3,4% 1 332 24%

    Remember, the worst performers for the year up to December 2021 were:

    Sorted by price evolution over the last 12 months, fourth column

    City / Region Price Number of Transactions Transaction Evolution Yr Price Evolution Qtr Price Evolution
    Palencia 890 € 1 925 36% -4,4% -4,3%
    Zamora 816 € 1 929 39% -3,5% 3,1%
    Cordova 1 093 € 8 954 35% -3,3% -0,1%
    Soria 878 € 1 289 32% -3,0% -4,0%
    Real city 715 € 5 444 33% -2,2% 0,5%
    Ceuta 1 749 € 724 22% -1,8% -2,7%
    Ourense. 907 € 2 399 23% -1,5% 1,8%
    Rioja (La) 1 100 € 4 967 30% -1,1% -1,0%
    Jaén. 782 € 6 553 27% -1,0% -0,6%
    Ceuta and melilla 1 700 € 1 492 37% -0,6% -2,2%

    Here is the Alphabetical ranking of all the regions real estate price evolution for the last year:

    Interactive chart

     

     

     

  3. The most expensive real estate markets in Spain

    End March 2022, Sorted by price, second column

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    Madrid (Comunidad de) 2 846 € 9,5% 3,1% 88 223 33%
    Gipuzkoa 2 820 € 3,1% 1,9% 7 329 24%
    Balears (Illes) 2 611 € 10,5% 2,5% 17 757 58%
    Barcelona 2 536 € 6,1% 3,4% 67 633 39%
    País Vasco 2 502 € 3,0% 1,9% 23 637 28%
    Bizkaia 2 461 € 4,0% 2,9% 12 948 28%
    Cataluña 2 160 € 7,1% 3,3% 104 834 41%
    Araba/Alava 1 985 € -1,6% -2,5% 3 360 33%
    Málaga 1 981 € 9,8% 3,1% 38 415 49%
    Ceuta 1 814 € 1,6% 3,7% 672 13%
    Ceuta y Melilla 1 766 € 3,5% 3,9% 1 391 18%
    Melilla 1 738 € 5,5% 4,0% 719 24%
    TOTAL NACIONAL 1 734 € 6,7% 2,4% 672 289 38%

    with the National Spanish Average: 1,734 €/m²

     

  4. The cheapest real estate markets in Spain

    End March 2022, Sorted by price, second column

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    Ciudad Real 729 € 0,8% 2,0% 5 565 32%
    Cuenca 772 € 1,3% -2,8% 2 552 45%
    Teruel 776 € 1,4% 1,3% 1 921 35%
    Jaén 796 € 4,0% 1,9% 6 702 29%
    Zamora 799 € -4,2% -2,1% 2 021 42%
    Cáceres 839 € 1,7% -2,3% 4 414 52%
    Ávila 849 € 6,5% 1,2% 2 633 33%
    Extremadura 865 € 3,7% 0,1% 11 510 39%
    León 875 € 2,3% 2,9% 4 847 28%
    Badajoz 882 € 4,9% 1,7% 7 096 33%
    Lugo 887 € 3,9% -0,5% 3 815 41%
    Toledo 905 € 8,9% 2,8% 11 673 39%
    Soria 908 € -0,9% 3,4% 1 332 24%
    Palencia 911 € 0,8% 2,3% 2 006 33%
    Castilla-La Mancha 913 € 4,9% 1,8% 29 296 37%
    Ourense 919 € 2,3% 1,4% 2 454 21%
    Albacete 925 € 3,2% 0,6% 4 180 43%
    Segovia 1 023 € 4,7% 3,6% 2 448 24%
    Murcia (Región de) 1 045 € 6,5% 1,7% 23 971 37%
    Castilla y León 1 045 € 2,9% 1,1% 31 673 31%
    Lleida 1 065 € 6,6% 2,7% 6 020 37%

    with the National Spanish Average: 1,734 €/m²

     

     

  5. The most active Spanish real estate market

     

    End December 2021, Sorted by the number of transactions over the last 12 months, fourth column

     

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    TOTAL NACIONAL 1 734 € 6,7% 2,4% 672 289 38%
    Andalucía 1 400 € 7,4% 2,3% 136 270 42%
    Cataluña 2 160 € 7,1% 3,3% 104 834 41%
    Comunidad Valenciana 1 320 € 8,2% 2,0% 101 078 43%
    Madrid (Comunidad de) 2 846 € 9,5% 3,1% 88 223 33%
    Barcelona 2 536 € 6,1% 3,4% 67 633 39%
    Alicante/Alacant 1 411 € 8,7% 2,6% 47 173 41%
    Valencia/València 1 299 € 8,6% 2,2% 41 372 43%
    Málaga 1 981 € 9,8% 3,1% 38 415 49%
    Castilla y León 1 045 € 2,9% 1,1% 31 673 31%
    Castilla-La Mancha 913 € 4,9% 1,8% 29 296 37%
    Sevilla 1 412 € 7,9% 2,6% 25 274 39%
    Canarias 1 595 € 6,4% 1,8% 25 033 41%
    Galicia 1 237 € 2,2% 1,0% 24 906 30%
    Murcia (Región de) 1 045 € 6,5% 1,7% 23 971 37%
    País Vasco 2 502 € 3,0% 1,9% 23 637 28%

     

  6. The fastest growing real estate markets

    (or least decreasing in case evolution are negative)

    End December 2021, Sorted by transaction evolution over the last 12 months / fourth column

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    Balears (Illes) 2 611 € 10,5% 2,5% 17 757 58%
    Cáceres 839 € 1,7% -2,3% 4 414 52%
    Castellón/Castelló 1 090 € 5,2% -1,4% 12 533 51%
    Málaga 1 981 € 9,8% 3,1% 38 415 49%
    Tarragona 1 404 € 11,1% 3,3% 16 461 48%
    Cádiz 1 445 € 5,7% 1,3% 18 627 46%
    Cuenca 772 € 1,3% -2,8% 2 552 45%
    Huelva 1 173 € 8,2% 1,0% 8 691 44%
    Almería 1 162 € 6,9% 0,4% 14 757 44%
    Valencia/València 1 299 € 8,6% 2,2% 41 372 43%
    Albacete 925 € 3,2% 0,6% 4 180 43%
    Comunidad Valenciana 1 320 € 8,2% 2,0% 101 078 43%
    Andalucía 1 400 € 7,4% 2,3% 136 270 42%
    Santa Cruz de Tenerife 1 510 € 6,5% 0,8% 11 834 42%
    Zamora 799 € -4,2% -2,1% 2 021 42%
    Canarias 1 595 € 6,4% 1,8% 25 033 41%
    Alicante/Alacant 1 411 € 8,7% 2,6% 47 173 41%
    Girona 1 690 € 10,6% 3,1% 14 720 41%
    Cataluña 2 160 € 7,1% 3,3% 104 834 41%
    Palmas (Las) 1 681 € 6,3% 2,7% 13 199 41%
    Lugo 887 € 3,9% -0,5% 3 815 41%
    Granada 1 200 € 6,4% 3,0% 14 556 40%
    Extremadura 865 € 3,7% 0,1% 11 510 39%
    Barcelona 2 536 € 6,1% 3,4% 67 633 39%
    Sevilla 1 412 € 7,9% 2,6% 25 274 39%
    Toledo 905 € 8,9% 2,8% 11 673 39%
    TOTAL NACIONAL 1 734 € 6,7% 2,4% 672 289 38%
    Check this very interesting infographic comparing transaction growth, price per m² and price evolution over the last year:
  7. The least active property markets in Spain

     

    End of December 2021, Sorted by transaction evolution over the last 12 months/ third column

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    Ceuta 1 814 € 1,6% 3,7% 672 13%
    Ceuta y Melilla 1 766 € 3,5% 3,9% 1 391 18%
    Ourense 919 € 2,3% 1,4% 2 454 21%
    Huesca 1 189 € 5,7% 1,8% 3 469 24%
    Melilla 1 738 € 5,5% 4,0% 719 24%
    Segovia 1 023 € 4,7% 3,6% 2 448 24%
    Gipuzkoa 2 820 € 3,1% 1,9% 7 329 24%
    Soria 908 € -0,9% 3,4% 1 332 24%
    Asturias (Principado de ) 1 304 € 1,6% 1,8% 13 063 27%
    Zaragoza 1 362 € 7,6% 1,7% 12 414 27%
    Aragón 1 259 € 6,7% 1,7% 17 804 27%
    País Vasco 2 502 € 3,0% 1,9% 23 637 28%
    Coruña (A) 1 272 € 0,8% 0,3% 10 652 28%
    León 875 € 2,3% 2,9% 4 847 28%
    Bizkaia 2 461 € 4,0% 2,9% 12 948 28%

     

  8. Price evolution of the main regions since 2006

    Here is a downloadable format of the chart if you want to save it:
    Spain house prices

    As you can see on this chart, Spanish real estate prices (thick orange line) got its lowest price point in early 2014 since the crisis of 2008. Since early 2014, real estate prices are rising and reached 1,734€/m² end of March 2022.  If you look at prices in general, yes we can talk again about growth but if you compare those to the levels of 2008 or to European real estate prices, you can still find bargains. Furthermore, real estate prices remain lower than the prices of early 2005 which were at 1680€ per square meter.

    The 3 winning regions since 2014

    The market in Spain is divided into two groups since 2014: the regions with rising prices: Barcelona, Madrid and the Balearic Islands and all the other regions where the prices have stabilized or are increasing modestly.

    Is it easy to buy in Spain?

    It is really easy to buy a property in Spain but:

    • because you are not on the ground,
    • because you don’t know the market and
    • because you need to check your property in order to avoid any nasty surprise, we advise you not to do it alone.

    We are foreigners and Spanish residents who bought properties in Spain and we developed a network of reliable partners in order to assist foreigners in their purchases of a Spanish property.

    We wrote this detailed article to help you out: Our ultimate 2021 guide to buying your property in Spain, you will get most of our tips there.

    Don’t forget, if you are buying in Spain as a foreigner, you could have two different motives:

    • Pleasure
    • Investment

    or the two combined. Depending on what is (are) your own motivation (s) your criteria will be different.

    Find your property in Spain

     

  9. Price evolution since 1995 for the top 20 Spanish cities

    We have created huge databases with all this information updated quarterly for all the Spanish cities.  For each of those you will find the last quarterly prices and transactions data available. Please note that transactions are published after prices that is why from time to time, the transactions could be given for the quarter before the one of prices. We did the same for each Spanish cities: price and transaction information, interactive chart (always up to date with our database), the resources available on the city and an image of the real estate price evolution between 1995 and September 2021 (static and not updated).

    Follow our alphabetical ranking or click on any name of this list: Alicante real estate prices, Almeria real estate prices, Barcelona real estate prices, Cadiz real estate prices, Castellón real estate prices, Girona real estate prices, Ibiza real estate prices, Las Palmas real estate  prices, Madrid real estate prices, Málaga real estate prices, Murcia real estate prices, Sevilla real estate prices, Tenerife real estate prices, Valencia real estate prices, Valladolid real estate prices, Zaragoza real estate prices

     

    Alicante property prices: €1,411 /m², +8.7% yr/yr

    Transactions for Alicante – last year: 47,173, +41%

     

     

    Alicante property prices

    Alicante property prices to September 2021

    Almeria property prices: €1,162 /m², +6.9% yr/yr

    Transactions for Almeria property market: 14,757 +44%

     

     

     

    Barcelona property prices: €2,536 /m², +6.1% yr/yr

    Transactions  for the real estate market in Barcelona: 67,633 +39%

     

     

     

    Barcelona property prices

    Barcelona property prices evolution to September 2021

     

    Cadiz property prices: €1,445 /m², +5.7% yr/yr

    Transactions for Cadiz: 18,627 +46%

     

     

    Cadiz property prices

    Cadiz property prices evolution to September 2021

    Castellón, Castelló property prices: €1,090/m², +5.2% yr/yr

    Transactions for Castellón, Castelló: 12,533 +51%

     

     

     

    Castellon property prices

    Castellon property price evolution to September 2021

    Girona property prices: €1,690/m², +10.6% yr/yr

    Transactions for the real estate market in Girona: 14,720 +41%

     

     

    Girona property prices

    Girona property price evolution to September 2021

     

    Ibiza property prices/Balearic Islands: €2,611 /m², +10.5% yr/yr

    Transactions for the Balearic Islands are: 17,757 +58%

     

     

    Balearic Islands property price

    Balearic Islands property price evolution to September 2021

    Las Palmas de Gran Canaria property prices: €1,681/m², +6.3% yr/yr

    Transactions for Las Palmas: 13,199 +41%

     

     

    Las Palmas property price

    Las Palmas property price evolution to September 2021

    Madrid property prices: €2,846 /m², +9.5% yr/yr

    Transactions for Madrid: 88,223 +33%

     

     

    Madrid property price

    Madrid property price evolution to September 2021

    Málaga property prices: €1,981 /m², +9.8% yr/yr

    Transactions for Málaga: 38,415 +49%

     

     

    Málaga property price

    Malaga property price evolution to September 20211

     

    Palma de Mallorca property prices/Balearic Islands: €2,611 /m², +10.5% yr/yr

    Transactions for the Balearic Islands: 17,757 +58%

     

    Balearic Islands property price

    Balearic Islands property price evolution to September 2021

     

    Murcia property prices: €1,045 /m², +6.5% yr/yr

    Transactions for the property market in Murcia: 23,971 +33%

     

    Murcia property price

    Murcia property price evolution to September 2021

     

    Santa Cruz Tenerife property prices: €1,510/m², +6.5% yr/yr

    Transactions for Santa Cruz de Tenerife: 11,834 +42%

     

    Santa Cruz de Tenerife property price

    Santa Cruz de Tenerife property price evolution to September 2021

     

    Seville property prices: €1,412 /m², +7.9% yr/yr

    Transactions for the real estate market in Sevilla are strong: 25,274 +39%

     

     

    Sevilla property price

    Sevilla property price evolution to September 2021

     

    Valencia property prices: €1,299 /m², 8.6% yr/yr

    Transactions for the property market in Valencia: 41,372 +43%

     

     

     

    Valencia property price

    Valencia property price evolution to September 20211

    Valladolid property prices: €1,277 /m², +4.7% yr/yr

    Transactions for Valladolid: 6,791 +35%

     

    Valladolid property price

    Valladolid property price evolution to September 2021

     

    Saragossa property prices: €1,362 /m², +7.6% yr/yr

    Transactions for Saragossa: 12,414 +27%

     

     

    Zaragoza property price

    Zaragoza property price evolution to September 2021

     

    Source: Ministerio de Fomento

     

    Have a look at the resources we have written about other Spanish Cities

    Bilbao

     

    Sitges

 

 

 

 

 

Have a look at our other very useful resources pages

• Spanish national real estate market: transaction & price data

• Spanish regional real estate market: transaction & price data

• Returns and mortgages conditions in Spain

• Spanish Economy

• Demography in Spain

You can always find those pages under “RE Price trends” at the bottom of the “Resources” section of the Menu.

 

Find our detailed maps and articles on the Spanish Costas here.

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Stéphane 

Senior analyst and strategist at HTBIS

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Our Spanish house price quarterly analysis up to March 2022: +6.7% Yr/Yr
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