If you’re thinking of buying a property in Spain this year or next, what can you expect to pay? Our map will help you see the huge price differences between regions.
The cost of buying a property in Spain has skyrocketed in recent years and in the last year alone prices have risen by 14.8 percent.
According to experts the surge in housing prices in the Spanish market is driven by tight supply and rising demand.
If you’re wanting to buy your dream property in Spain is it best to wait to see if prices come down or should you act now to ensure they don’t rise even higher?
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According to property portal Idealista, the average cost per metre squared has now reached a historic maximum of €2,489 m/2.
If we take the average property size of 100m2, this means a home in Spain now costs an average of €249,800.
Real estate agency DonPiso estimates that sales could reach 800,000 transactions this year, which would represent an increase of almost 25 percent compared to the 641,919 transactions carried out in 2024.
More than half of these transactions will be concentrated in Madrid, Catalonia , the Valencia and Andalusia, although a large number of transactions are also expected in the northern regions as a result of residential tourism and its attractiveness to capital investors.
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Of course, the average increases significantly due to the much higher cost of properties in Spain’s most expensive regions.
The most expensive place to buy a property in 2025 in Spain is the Balearic Islands with an average of €5,068 /m2. This means here a 100m2 home would cost you just over €500,000. This exceeds the price in most other regions by a considerable amount.
The second most expensive region is Madrid with an average of €4,384 /m2. Behind the capital is the Basque country with an average of €3,287 /m2 and then the Canary Islands with €3,080 /m2. So expect to pay more than €300,000 in any of these three regions.
At the other end of the scale, the most affordable region to buy a property in Spain is Castilla-La Mancha where homes cost an average of 986/m2, followed closely by Extremadura at €989m /m2. This means that an average 100m2 home in either of these regions would cost just under €100,000.
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The third most affordable region for property in Spain is Castilla y León where they cost an average of €1,244 /m2.
Since August 2024, property prices have risen the most in Madrid with an increase of 23.3 percent.
Surprisingly, this is followed by ‘cheaper’ regions Murcia and Cantabria, where prices have increased by 17.6 percent.
They have also risen by 17.4 percent in Valencia, one of the most popular regions for foreigners to buy homes in Spain.
Prices have reached historic maximums this year in a total of 6 regions including Madrid, the Basque Country, Valencia, the Canaries, the Balearics and Andalusia, which means that there are still 11 regions where prices have ultimately fallen in the past, even though they all increased in price during the last year.
This suggests that prices are continuing to rise into next year, so waiting could be a risk.
“We don’t anticipate a bubble, but rather a year of stable growth, with a particular emphasis on the best-connected urban areas,” Emiliano Bermúdez, deputy general manager of Donpiso told InfoBae.
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