Spain house prices: Resale homes rise 17.2% to the highest level in 21 years

The price of resale housing in Spain ended the second quarter of 2026 with a year-on-year increase of 17.2%, according to the Fotocasa Real Estate Index. ADVERTISEMENT ADVERTISEMENT Between April and June, prices also rose by 4%, bringing the average to €3,133 per square metre in June. Spain's resale home prices have hit new record highs in four of the first six months of the year and are now at their highest level in the past 21 years. Fotocasa’s head of research and spokesperson, María Matos, attributes this trend to a sharp imbalance between strong demand and limited supply. She explains that the shortage of available properties, financing conditions and demographic pressure in the main markets are driving prices up and making it more difficult to access housing. According to Matos, "the result is ever faster price growth that makes it harder to access housing and widens the affordability gap for a large proportion of households." Fotocasa’s data is in line with the trend shown by statistics from the National Statistics Institute (INE), although the two use different methodologies. While the property portal analyses the asking prices of advertised listings, the INE measures the prices of homes that are ultimately sold. According to the institute, the overall price of housing rose by 12.9% year-on-year in the first quarter of 2026, while second-hand homes became 13.5% more expensive. Murcia leads the increases Prices rose during the second quarter in 16 autonomous communities. The Region of Murcia recorded the largest rise, at 8.6%, followed by Cantabria (6.3%), the Valencian Community (5.9%), Castile and León (5.6%) and La Rioja (5.1%). The Canary Islands was the only region where prices fell, with a drop of 0.7%. On an annual basis, Murcia once again came out on top with an increase of 28%, ahead of Cantabria (20%), the Valencian Community (19.8%), Asturias (17%) and Andalusia (16.9%). The report also highlights that "June 2026 ended with 14 autonomous communities posting double-digit year-on-year increases, compared with 11 in 2025, six in 2024 and seven in 2023". The Balearic Islands and Madrid remain the most expensive regions to buy a resale home, at €5,441 and €5,410 per square metre respectively. They are followed by the Basque Country (€3,925), Catalonia (€3,418) and the Canary Islands (€3,374). At the opposite end of the scale are Extremadura (€1,352), Castile-La Mancha (€1,407) and Castile and León (€1,816). Provinces, provincial capitals and major cities Forty-six provinces recorded quarterly increases, with León (10.7%), Palencia (10.2%) and Murcia (8.6%) seeing the sharpest rises, while Cuenca, Huelva, Santa Cruz de Tenerife and Ávila were the only ones where prices fell. The Balearic Islands remains the most expensive province to buy a resale home, at €5,441 per square metre, followed by Madrid (€5,410), Guipúzcoa (€4,695) and Málaga (€4,690). Jaén continues to be the most affordable, at €1,112 per square metre. Among provincial capitals, León recorded the largest quarterly increase, while Donostia-San Sebastián maintains the highest average price in Spain, at €7,158 per square metre, ahead of Madrid (€6,630), Barcelona (€5,368), Palma (€5,275), Málaga (€4,320) and Bilbao (€4,157). At municipal level, Santa Eulària des Riu in Ibiza tops the national ranking with €8,491 per square metre, followed by Sant Antoni de Portmany (€8,284) and Eivissa (€7,441). In Madrid, the Salamanca district reaches €10,786 per square metre, while Sarrià-Sant Gervasi leads the way in Barcelona at €7,540 per square metre.