According to the latest real estate index released by property platform Fotocasa on September 1, 2026, the price of second-hand housing in Spain continues its upward trend. Data shows that in August 2026, the average price of a pre-owned home climbed to €3,166 per square meter, a significant 15.6% increase compared to the same period last year.
This figure marks 70 consecutive months of year-on-year price growth in Spain since November 2020. For homebuyers, this price surge directly translates into higher purchasing costs. For example, an 80-square-meter second-hand home now has an average selling price of approximately €253,300, compared to €219,000 in the same period last year, meaning buyers need to pay about €34,300 more than a year ago.
National Price Overview: Growth Slows, But Pressure Remains
Although prices are still rising rapidly, data indicates that the pace of growth is showing signs of slowing. The 15.6% year-on-year increase recorded in August 2026 is the lowest for the year, following several months where growth exceeded 20%. Fotocasa noted that the pace of price hikes has been gradually decelerating since May.
However, this does not signal a turning point. María Matos, Director of Research at Fotocasa, stated that the market’s core conflict—strong buying demand versus a severe housing supply shortage—persists, continuing to exert immense pressure on prices. She believes the market is still a long way from reaching a stage of ‘price normalization.’
Performance by Autonomous Communities and Provinces: Regional Differences Amid Widespread Growth
At the regional level, all 17 of Spain’s autonomous communities recorded year-on-year price increases, with 13 of them seeing double-digit growth. The Region of Murcia leads the nation with a staggering 28.8% increase, followed by Cantabria (18.5%), the Valencian Community (17.1%), and Navarre (17%). Among other major communities, Catalonia saw a 12% rise, Andalusia 10.9%, and the Community of Madrid 9.9%.
At the provincial level, prices rose in 48 of the 50 provinces tracked by Fotocasa, with only Soria and Teruel experiencing slight decreases of 0.1% and 0.3%, respectively. In terms of absolute prices, the Balearic Islands (Illes Balears) and Madrid remain the most expensive regions in the country, with average prices of €5,443/m² and €5,431/m², respectively. In contrast, Extremadura is the most affordable autonomous community with an average price of €1,380/m².
City Price Dynamics: Universal Increases in Provincial Capitals
The phenomenon of rising prices is even more widespread at the city level. Data shows that all 50 provincial capitals surveyed experienced year-on-year increases. Among them, León topped the list with a 26.7% rise, while Zamora and Ciudad Real also saw significant increases of 21.3% and 20.2%, respectively.
In terms of absolute city prices, San Sebastián continues to be the most expensive provincial capital in Spain, with an average price of €7,141 per square meter. It is followed by Madrid (€6,624/m²), Barcelona (€5,375/m²), Málaga (€4,387/m²), and Bilbao (€4,226/m²).
Uneven Market: Drastic Price Fluctuations in Some Municipalities
At the more granular municipal level, price fluctuations are even more dramatic. The municipality of Bigastro in the province of Alicante saw a staggering annual price increase of 85.3%, while Narón and Santa Fe experienced rises of 67.7% and 59.4%, respectively. Meanwhile, a few areas saw price drops, with Ayamonte recording the largest decline at 12.6%.
High-priced areas remain highly concentrated in the islands and coastal regions. For instance, the average price in Santa Eulària des Riu has reached €8,659 per square meter. In contrast, second-hand homes in inland municipalities like Torreperogil and Jamilena still have average prices below €700 per square meter, highlighting the significant regional differentiation within the Spanish real estate market.
