Cheapest Housing in Spain: Ranking of Municipalities

Idealista

The top 25 most affordable municipalities in Spain has been published by idealista. In two of them — Fuente Obejuna and Pedro Muñoz — secondary market property prices are below €400 per sq. m. In many other municipalities, housing can be purchased for up to €556 per sq. m.

Affordable Locations in Spain

Top 5: Housing in Spain Below €400 per sq. m.

Fuente Obejuna in the province of Córdoba ranks first among the cheapest municipalities in Spain. The average price of secondary market housing there is €369 per sq. m. Pedro Muñoz in the province of Ciudad Real takes second place, with an asking price of €377 per sq. m. These two municipalities are the only ones in Spain where average housing prices are below €400 per sq. m.

The top five also include Bembibre in the province of León (€441 per sq. m), Vilamarín in Ourense (€450 per sq. m), and Espinosa de los Monteros in Burgos (€456 per sq. m). Other affordable locations are found in Castilla-La Mancha, Andalusia, Galicia, and Extremadura. For example, housing in Argamasilla de Alba and Almodóvar del Campo in Ciudad Real is offered at an average of €457 and €468 per sq. m respectively, while Arroyo de la Luz in Cáceres and Quesada in Jaén have prices of €471 per sq. m.

Housing in Spain Below €500 per sq. m.

The ranking also includes municipalities where housing prices remain below €500 per sq. m. These include Argamasilla de Alba and Almodóvar del Campo, with prices of €457 and €468 per sq. m respectively, as well as Arroyo de la Luz and Quesada at €471 per sq. m.

Several other locations with minimal prices are in the range of €480–€492 per sq. m. These include Campo de Criptana (€480), Azuaga (€483), Villanueva de los Infantes (€489), O Covelo (€490), Peñarroya-Pueblonuevo (€490), and Villanueva del Arzobispo (€492 per sq. m).

Prices Up to €556 per sq. m.

The remaining municipalities in the ranking offer housing at prices ranging from €507 to €556 per sq. m. This group includes Leiro (€507), Paterna del Río (€508), A Merca (€528), Abarán (€534), El Carpio (€536), and Villarrubia de los Ojos (€544).

Housing in San Clemente in the province of Cuenca costs €548 per sq. m, while Socuéllamos has a similar price of €549. Slightly higher prices are recorded in Herencia in Ciudad Real (€552). The ranking is completed by Mancha Real in Jaén, where housing still remains relatively affordable at €556 per sq. m.

Ranking of Spain’s Autonomous Communities

The idealista study also identified the most affordable locations for buying housing in each of Spain’s 17 autonomous communities. Some of these markets offer properties for less than €700 per sq. m.

In the Valencian Community, the most affordable municipality is Utiel in the province of Valencia, where the average housing price is €640 per sq. m. In Aragon, the leader is Tarazona in Zaragoza (€656), in Asturias it is Piloña (€668), and in Catalonia it is Balaguer in Lleida (€732).

In some autonomous communities, even the cheapest municipalities have significantly higher prices. In La Rioja, the lowest price was recorded in Santo Domingo de la Calzada — €877 per sq. m. In Cantabria, the most affordable housing is found in Reinosa (€1,019 per sq. m), while in Navarre it is Corella (€1,201 per sq. m). In the Madrid region, the lowest prices are recorded in Chinchón (€1,357 per sq. m).

In Spain’s most expensive regions, even the minimum prices remain high. For example, in the Balearic Islands, the most affordable municipality is Petra, where housing costs €2,502 per sq. m. In the Basque Country, the lowest price is recorded in Llodio (Álava), where the average cost is €2,182 per sq. m.

Differences in Average Housing Prices in Spain

Municipalities

Housing prices in the municipalities included in the national ranking are significantly lower than the average levels in their respective autonomous communities. The largest gap was recorded in Fuente Obejuna in Córdoba, where housing is 87.4% cheaper than the average price in Andalusia.

It is followed by Quesada in Jaén, where the difference reaches 84%, as well as Peñarroya-Pueblonuevo in Córdoba and Villanueva del Arzobispo in Jaén, both with an 83.3% gap compared with the regional average.

The smallest difference among the ranked municipalities was recorded in Herencia and Socuéllamos in Castilla-La Mancha, where prices are 50.4% and 50.7% lower than the regional average respectively.

Autonomous Communities

Even the cheapest municipalities within Spain’s autonomous communities differ significantly from regional average prices. Among the leaders of regional rankings, the largest gap was recorded in Balaguer in Catalonia and Utiel in the Valencian Community, where housing is 75% cheaper than the average price in their respective regions.

A significant gap was also recorded in Bembibre in Castilla y León (68%) and Vilamarín in Galicia (72%). The smallest differences were observed in Corella in Navarre, where housing is 39% cheaper than the regional average, and in Llodio in the Basque Country, where the difference is 40%.

Conclusion

Analysts at International Investment note that the lowest housing prices in Spain are mainly found in small municipalities located away from major cities and popular tourist destinations.

Low prices per square meter may create opportunities for investors interested in renovation projects, long-term rentals, or resale strategies. However, buyers should consider demand levels, demographic trends, and the economic activity of each specific location. In many cases, low prices are linked to limited liquidity, meaning that selling a property or finding tenants in smaller municipalities may take longer.

The most promising locations may be those where affordable housing prices are combined with infrastructure development, proximity to major cities, tourism potential, or stable local demand.