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Spanish house prices rose by +4.4% in 2021: the top 20 markets!

01 Apr
2022
Spanish property prices evolution since 1995
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Our Spanish house price quarterly analysis up to Dec 2021: +4.4% 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.

Spanish property prices quarterly report - Content hide

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Coronavirus Spanish real estate

 

  1. Spanish property prices evolution over the last quarter

    Let’s start with the Spanish real estate national average: price per square meter is 1,694 on average in Spain as of end of December 2021. This means that Spanish real estate prices evolved

    • by +4.4% during the last year from €1,622/m² (+2.6% 3 months ago)
    • by +2.0% during the last quarter (+0.8% 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:

    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%

    Sorted by price evolution over the last 12 months, 

     

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

    City / Region Price Yr Price Evolution Qtr Price Evolution Number of Transactions Transaction Evolution
    Málaga 1 924 € 7,6% 3,9% 32 109 25%
    Almería 1 153 € 5,6% 3,1% 13 162 32%
    Huelva 1 120 € 5,1% 1,4% 7 751 44%
    Tarragona 1 322 € 4,9% 1,8% 14 626 38%
    Balears (Illes) 2 496 € 4,8% 2,1% 14 322 15%
    Andalucía 1 352 € 4,7% 1,8% 120 891 30%
    Alicante/Alacant 1 341 € 4,6% 1,6% 40 173 17%
    Ávila 844 € 4,5% 3,3% 2 516 35%
    Sevilla 1 341 € 3,9% 0,5% 23 261 33%
    Bizkaia 2 364 € 3,9% 0,0% 12 036 17%
    Cádiz 1 413 € 3,9% 0,5% 16 621 30%
    Comunidad Valenciana 1 255 € 3,8% 0,8% 89 094 28%
    Valladolid 1 255 € 3,7% 0,3% 6 330 37%
    Santa Cruz de Tenerife 1 469 € 3,7% 3,1% 10 137 8%
    Toledo 868 € 3,5% 2,0% 10 775 39%
    Canarias 1 547 € 3,5% 1,6% 21 699 9%
    Valencia/València 1 220 € 3,4% -0,6% 37 852 38%
    País Vasco 2 421 € 3,3% -0,4% 22 366 18%
    Palmas (Las) 1 625 € 3,3% 0,3% 11 562 10%
    Girona 1 585 € 3,2% 0,3% 13 020 29%
    Lugo 881 € 3,1% 0,5% 3 601 57%
    Castellón/Castelló 1 085 € 3,1% 3,1% 11 069 41%
    Gipuzkoa 2 736 € 3,0% -0,6% 7 171 15%
    Huesca 1 174 € 3,0% 2,5% 3 380 39%

     

    The worst performers for the year:

    Sorted by price evolution over the last 12 months, fifth 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%

     

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

    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 792 € -3,9% -1,4% 1 871 54%
    Ourense 891 € -2,7% -0,1% 2 451 42%
    Soria 914 € -2,3% 3,7% 1 311 53%
    Córdoba 1 094 € -2,3% -1,3% 8 866 43%
    Palencia 930 € -1,4% 2,9% 1 956 48%
    Cuenca 766 € -1,1% -2,6% 2 346 48%
    Ciudad Real 712 € -1,0% 0,1% 5 446 43%
    León 860 € -0,9% 2,7% 4 657 33%
    Salamanca 1 178 € -0,5% 3,2% 3 820 34%
    Ceuta 1 798 € -0,5% 0,1% 711 34%
    Cáceres 837 € -0,3% 1,7% 3 823 25%
    Segovia 985 € -0,1% 2,3% 2 418 52%
    Pontevedra 1 270 € -0,1% -0,5% 7 454 31%

    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 December 2021, Sorted by price, second column

    City / Region Price Number of Transactions Transaction Evolution Yr Price Evolution Qtr Price Evolution
    Gipuzkoa. 2 766 € 7 165 19% 2,5% 1,1%
    Madrid (Community of) 2 760 € 85 538 28% 7,2% 2,8%
    Balearic Islands 2 546 € 15 856 32% 6,2% 2,0%
    Basque Country 2 455 € 22 852 22% 2,6% 1,4%
    Barcelona 2 453 € 64 992 33% 4,3% 2,4%
    Bizkaia 2 392 € 12 280 19% 2,7% 1,2%
    Catalonia 2 091 € 100 765 36% 5,0% 2,6%
    Araba / Alava. 2 037 € 3 407 39% 3,6% 3,1%
    Malaga 1 922 € 34 394 32% 6,1% -0,1%
    Ceuta 1 749 € 724 22% -1,8% -2,7%
    Ceuta and melilla 1 700 € 1 492 37% -0,6% -2,2%
    Spain average 1 694 € 639 452 32% 4,4% 2,0%

    with the National Spanish Average: 1,694 €/m²

     

  4. The cheapest real estate markets in Spain

    End December 2021, Sorted by price, second column

    City / Region Price Number of Transactions Transaction Evolution Yr Price Evolution Qtr Price Evolution
    Real city 715 € 5 444 33% -2,2% 0,5%
    Teruel. 766 € 1 791 23% 1,5% 1,8%
    Jaén. 782 € 6 553 27% -1,0% -0,6%
    Basin 795 € 2 435 44% 2,7% 3,7%
    Zamora 816 € 1 929 39% -3,5% 3,1%
    Ávila 839 € 2 452 27% 2,7% -0,6%
    Lion 850 € 4 629 25% 0,0% -1,2%
    Cáceres 858 € 4 216 45% 2,3% 2,5%
    Estremadura 863 € 11 119 39% 1,3% 0,8%
    Badajoz. 868 € 6 903 36% 0,5% -0,4%
    Soria 878 € 1 289 32% -3,0% -4,0%
    Toledo 880 € 10 926 32% 3,6% 1,4%
    Palencia 890 € 1 925 36% -4,4% -4,3%
    Lugo. 892 € 3 670 43% 2,5% 1,3%
    Castilla la Mancha 897 € 27 804 34% 1,3% 1,1%
    Ourense. 907 € 2 399 23% -1,5% 1,8%
    Albacete 919 € 3 993 41% 0,6% 1,7%
    Segovia. 987 € 2 464 41% 2,0% 0,3%

    with the National Spanish Average: 1.694 €/m²

     

     

  5. The most active Spanish real estate market

     

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

     

    City / Region Price Number of Transactions Transaction Evolution Yr Price Evolution Qtr Price Evolution
    Spain average 1 694 € 639 452 32% 4,4% 2,0%
    Andalusia 1 368 € 127 132 33% 4,4% 1,2%
    Catalonia 2 091 € 100 765 36% 5,0% 2,6%
    Valencian Community 1 295 € 94 997 34% 6,3% 3,2%
    Madrid (Community of) 2 760 € 85 538 28% 7,2% 2,8%
    Barcelona 2 453 € 64 992 33% 4,3% 2,4%
    Alicante 1 375 € 43 157 24% 6,4% 2,5%
    Valencia 1 271 € 39 824 41% 6,6% 4,2%
    Malaga 1 922 € 34 394 32% 6,1% -0,1%
    Castilla y León. 1 034 € 30 401 32% 1,1% 0,4%
    Castilla la Mancha 897 € 27 804 34% 1,3% 1,1%
    Seville 1 377 € 24 347 34% 3,9% 2,7%
    Galicia 1 225 € 24 323 33% 1,5% 1,0%
    Canary Islands 1 567 € 23 074 17% 3,7% 1,3%
    Basque Country 2 455 € 22 852 22% 2,6% 1,4%
    Murcia (region of) 1 027 € 22 631 30% 5,1% 4,2%
    Aragon 1 238 € 17 617 30% 3,0% 2,2%
    Cádiz. 1 426 € 17 538 36% 3,9% 1,0%
    Balearic Islands 2 546 € 15 856 32% 6,2% 2,0%

     

  6. The fastest growing real estate markets

    (or least decreasing in case evolution are negative)

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

    City / Region Price Number of Transactions Transaction Evolution Yr Price Evolution Qtr Price Evolution
    Melilla 1 670 € 768 55% 0,8% -1,7%
    Lleida 1 037 € 6 066 51% 6,4% 4,2%
    Castellón / Castelló 1 106 € 12 016 50% 5,2% 1,9%
    Tarragona 1 358 € 15 769 46% 7,0% 2,8%
    Cáceres 858 € 4 216 45% 2,3% 2,5%
    Basin 795 € 2 435 44% 2,7% 3,7%
    Lugo. 892 € 3 670 43% 2,5% 1,3%
    Huelva. 1 162 € 8 204 43% 7,9% 3,8%
    Segovia. 987 € 2 464 41% 2,0% 0,3%
    Valencia 1 271 € 39 824 41% 6,6% 4,2%
    Albacete 919 € 3 993 41% 0,6% 1,7%
    Araba / Alava. 2 037 € 3 407 39% 3,6% 3,1%
    Estremadura 863 € 11 119 39% 1,3% 0,8%
    Zamora 816 € 1 929 39% -3,5% 3,1%
    Ceuta and melilla 1 700 € 1 492 37% -0,6% -2,2%
    Cantabria 1 468 € 9 042 36% 2,4% -0,9%
    Catalonia 2 091 € 100 765 36% 5,0% 2,6%
    Palencia 890 € 1 925 36% -4,4% -4,3%
    Badajoz. 868 € 6 903 36% 0,5% -0,4%
    Burgos 1 139 € 5 394 36% 1,4% 1,3%
    Cádiz. 1 426 € 17 538 36% 3,9% 1,0%
    Almeria 1 157 € 13 931 35% 3,9% 0,3%
    Girona. 1 639 € 13 938 35% 6,8% 3,4%
    Cordova 1 093 € 8 954 35% -3,3% -0,1%
    Coruña 1 268 € 10 559 35% 0,9% -0,6%
    Seville 1 377 € 24 347 34% 3,9% 2,7%
    Valencian Community 1 295 € 94 997 34% 6,3% 3,2%
    Castilla la Mancha 897 € 27 804 34% 1,3% 1,1%
    Community of Navarre 1 458 € 7 114 34% 3,6% 2,1%
    Andalusia 1 368 € 127 132 33% 4,4% 1,2%
    Barcelona 2 453 € 64 992 33% 4,3% 2,4%
    Real city 715 € 5 444 33% -2,2% 0,5%
    Galicia 1 225 € 24 323 33% 1,5% 1,0%
    Soria 878 € 1 289 32% -3,0% -4,0%
    Malaga 1 922 € 34 394 32% 6,1% -0,1%
    Balearic Islands 2 546 € 15 856 32% 6,2% 2,0%
    Castilla y León. 1 034 € 30 401 32% 1,1% 0,4%
    Saragossa 1 340 € 12 453 32% 3,5% 3,0%
    Spain average 1 694 € 639 452 32% 4,4% 2,0%
    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 September 2021, Sorted by transaction evolution over the last 12 months/ third column

    City / Region Price Number of Transactions Transaction Evolution Yr Price Evolution Qtr Price Evolution
    Santa Cruz of Tenerife 1 497 € 10 736 17% 4,0% 1,9%
    Canary Islands 1 567 € 23 074 17% 3,7% 1,3%
    Las Palmas 1 636 € 12 338 18% 3,4% 0,7%
    Gipuzkoa. 2 766 € 7 165 19% 2,5% 1,1%
    Bizkaia 2 392 € 12 280 19% 2,7% 1,2%
    Basque Country 2 455 € 22 852 22% 2,6% 1,4%
    Ceuta 1 749 € 724 22% -1,8% -2,7%
    Ourense. 907 € 2 399 23% -1,5% 1,8%
    Teruel. 766 € 1 791 23% 1,5% 1,8%
    Alicante 1 375 € 43 157 24% 6,4% 2,5%
    Lion 850 € 4 629 25% 0,0% -1,2%
    grenade 1 166 € 13 211 25% 4,3% 3,1%
    Huesca. 1 169 € 3 373 27% 1,4% -0,5%
    Ávila 839 € 2 452 27% 2,7% -0,6%
    Jaén. 782 € 6 553 27% -1,0% -0,6%
    Pontevedra 1 303 € 7 695 28% 3,0% 2,6%
    Madrid (Community of) 2 760 € 85 538 28% 7,2% 2,8%
    Asturias (Principality of) 1 281 € 12 728 29% 2,7% -1,0%
    Salamanca 1 183 € 3 853 29% 1,8% 0,4%
    Murcia (region of) 1 027 € 22 631 30% 5,1% 4,2%
    Rioja (La) 1 100 € 4 967 30% -1,1% -1,0%
    Guadalajara. 1 137 € 5 006 30% 0,5% -0,6%
    Aragon 1 238 € 17 617 30% 3,0% 2,2%
    Valladolid. 1 288 € 6 466 32% 4,8% 2,6%
    Toledo 880 € 10 926 32% 3,6% 1,4%

     

  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 1,694€/m² end of December 2021.  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: €1,375 /m², +6.4% yr/yr

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

     

     

    Alicante property prices

    Alicante property prices to September 2021

    Almeria property prices: €1,157 /m², +3.9% yr/yr

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

     

     

     

    Barcelona property prices: €2,453 /m², +4.3% 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: €1,426 /m², +3.9% yr/yr

    Transactions for Cadiz: 18,627 +46%

     

     

    Cadiz property prices

    Cadiz property prices evolution to September 2021

    Castellón, Castelló property prices: €1,106/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: €1,639/m², +6.8% 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: €2,546 /m², +6.2% 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: €1,636/m², +3.4% yr/yr

    Transactions for Las Palmas: 13,199 +41%

     

     

    Las Palmas property price

    Las Palmas property price evolution to September 2021

    Madrid property prices: €2,760 /m², +7.2% yr/yr

    Transactions for Madrid: 88,223 +33%

     

     

    Madrid property price

    Madrid property price evolution to September 2021

    Málaga property prices: €1,922 /m², +6.1% 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: €2,546 /m², +6.2% 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: €1,027 /m², +5.1% 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: €1,497/m², +4% 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: €1,377 /m², +3.9% 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: €1,271 /m², 6.6% 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: €1,288 /m², +4.8% yr/yr

    Transactions for Valladolid: 6,791 +35%

     

    Valladolid property price

    Valladolid property price evolution to September 2021

     

    Saragossa property prices: €1,340 /m², +3.5% 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 Dec 2021: +4.4% Yr/Yr
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