Spain’s Resale Housing Market Accelerates in 2026

Resale Property Prices in Spain Reach Record High

Spain’s resale housing market continued its rapid expansion in January 2026. According to the latest data from Idealista, the average price of resale housing increased by 18.4% year-on-year, reaching €2,650 per square metre. The figure also represents a 3.7% quarterly rise and a 0.4% monthly increase, marking the highest level since records began.

The sustained acceleration highlights persistent demand pressures combined with limited supply, particularly in regions with strong investment and tourism appeal.

Resale housing prices rose year-on-year in all autonomous communities. Murcia led with a 25.8% increase, followed by Andalusia at 21.4%, Asturias at 19.2%, the Community of Madrid at 19.1% and Cantabria at 18.5%.

Below the national average were the Valencian Community at 17.8%, Aragon at 14.6%, Catalonia at 14.3%, the Basque Country at 13%, Castile–La Mancha at 12.2% and the Canary Islands at 11.7%. The slowest increases were recorded in Galicia at 7.6% and Extremadura at 8.3%.

The Balearic Islands remain the most expensive autonomous community for resale housing at €5,194 per square metre. Madrid follows at €4,585, ahead of the Basque Country at €3,460, the Canary Islands at €3,200, Andalusia at €2,784 and Catalonia at €2,776.

At the lower end of the spectrum are Extremadura at €1,040 per square metre, Castile–La Mancha at €1,048 and Castile and León at €1,287.

Year-on-year price increases were recorded in 49 provinces, with Ourense as the only exception, posting a decline of 2.8%. The strongest growth was observed in the province of Valencia at 25.9%, followed by Murcia at 25.8%, Asturias at 19.2%, Madrid at 19.1%, and both Almería and Toledo at 19%. Barcelona province recorded a 13.9% increase.

The Balearic Islands remain the most expensive province at €5,194 per square metre, followed by Madrid at €4,585, Gipuzkoa at €4,265, Málaga at €4,082, Santa Cruz de Tenerife at €3,366, Biscay at €3,321 and Barcelona at €3,123. The most affordable provinces are Ciudad Real at €779, Jaén at €858 and Cuenca at €861 per square metre.

Resale prices rose in all provincial capitals over the past year. Santa Cruz de Tenerife recorded the strongest annual growth at 26.3%, followed by León at 23%, Guadalajara at 22.3%, Murcia at 19.1% and Teruel at 18.9%. The weakest growth was seen in Melilla at 2.6%, Cádiz at 3.8%, Ceuta at 4.2%, and both Vitoria and Girona at 6%.

Among major cities, price growth was particularly notable in Valencia at 15.9%, Madrid at 14.8%, Palma at 13.4%, Seville at 12.8%, Bilbao at 12.2%, Málaga at 12.2%, Alicante at 11.2%, San Sebastián at 10.9% and Barcelona at 9.4%.

San Sebastián remains Spain’s most expensive city for home purchases at €6,480 per square metre. Madrid reached €5,861 and Barcelona €5,148. Zamora stands as the most affordable provincial capital at €1,300 per square metre.

As experts at International Investment note, the rapid appreciation of Spain’s resale housing market reflects structural supply constraints and sustained demand. If current trends persist, affordability pressures are likely to intensify, particularly in major metropolitan areas.