In August, the average price of used housing increased by 14.8% year-on-year, reaching €2,498/m2, the highest figure since idealista began collecting data. Seven provinces lead the list of all-time highs: Balearic Islands, Madrid, Gipuzkoa, Malaga, Barcelona, Alicante, and Girona.
The Balearic Islands consolidate their position as the most expensive province for purchasing used housing, with an average price exceeding €5,000/m2. Despite recording an annual growth of 12.3%, lower than the national average, 25 municipalities in the archipelago have reached record prices.
Sant Joan de Labritja (Ibiza) stands out, leading the list with €8,959/m2, followed by Sant Josep de Sa Talaia and Sant Antoni de Portmany, both above €6,900/m2. Calvià (Mallorca) and the city of Ibiza itself complete the top 5. Sant Antoni de Portmany has the largest annual increase, at 19.6%, followed by Sant Joan de Labritja (+13%) and Calvià (+8.7%). The increases in Colonia de Sant Pere (+37.5%), Felanitx (+30.2%), Inca (+26.4%), and Muro (+23.1%), all in Mallorca, are also noteworthy. Palma, the capital of the Balearic Islands, also shows strong growth (+17.2%), reaching €5,006/m2. In the province of Barcelona, the average price is now €3,023/m2 (+10.5%).
Barcelona city has the highest value, at €4,991/m2, followed by Sitges and Sant Cugat del Vallès. Sant Joan Despí stands out for the highest annual price increase (+22.7%), ahead of Les Franqueses del Vallès, Castellví de Rosanes and Vilassar de Mar.
Girona, for its part, closes the group of provinces with the highest prices, with an average price of €2,587/m2 (+8.2%). Although the capital city doesn't lead in prices, Castell-Platja d'Aro, Llívia, Puigcerdà and Tossa de Mar have the highest values. Llívia (+15.4%), Puigcerdà (+14.1%), Sant Pere Pescador (+12.3%) and Tossa de Mar (+12.1%) lead the annual price increases in the area.
Madrid is positioned as the epicenter of the housing price rise. The August data is striking: 43 provinces closed the month with year-on-year increases, but Madrid stands out particularly. Sellers have raised their expectations by 23.3% compared to last year, setting the average price at a record high of €4,384/m2. In addition, 35 municipalities in the region are recording record-high prices for available properties.
The most notable increases within the province are seen in Alcobendas (+30.3%), Leganés (+26.9%), Velilla de San Antonio (+25.4%), Fuenlabrada (+25.3%) and Moralzarzal (+25.1%). Alcorcón (24.4%) and San Fernando de Henares (24.3%) also significantly exceed the provincial average.
At the other end of the spectrum, towns such as Alpedrete, Las Rozas, Campo Real and Ciudalcampo have experienced increases of less than 10%, although they maintain high prices compared to other areas.
In terms of absolute prices, the city of Madrid leads as the most expensive municipality in the region, closely followed by Pozuelo de Alarcón (€4,767/m2) and Alcobendas (€3,876/m2), both at record highs. Tres Cantos (€3,735/m2), San Sebastián de los Reyes (€3,622/m2), Las Rozas (€3,614/m2) and Boadilla del Monte (€3,605/m2) also surpass the €3,500 per square meter mark.
Moving north to the Basque Country, Gipuzkoa continues to set record figures. Three municipalities reached record highs in August, with Zarautz leading the way (€6,630/m2), surpassing San Sebastián, which was already the most expensive capital in the country (€6,283/m2). Pasaia completes the trio with €3,232/m2. The annual increases are also noteworthy: Zarautz (+21.1%), San Sebastián (+13.5%) and Pasaia (+10.2%).
On the Costa del Sol, Málaga reflects the consolidation of the area as a key hub in the national real estate market. The average provincial price reaches €3,842/m2, with a growth of 13.8%. Marbella (€5,258/m2), Benahavís (€5,205/m2) and Fuengirola (€4,301/m2) lead the ranking, followed by Benalmádena, Ojén, Torremolinos, Nerja and Algarrobo-Costa, all above the price in the city of Málaga (€3,549/m2).
Regarding the largest price increases, Almayate Bajo leads with a 31.1% increase, followed by Algarrobo-Costa (+27.6%), Ojén (+25.6%), Caleta de Vélez (+25.1%) and Frigiliana (+20.1%). The city of Málaga increased by 15.6%, Torremolinos by 17.3%, Estepona by 11.2% and Marbella by 5.7%. Finally, Alicante stands out as the province with the highest number of municipalities reaching all-time price highs: 32 in total, although the provincial capital is not among them.
The residential market growth is concentrated in the coastal tourist towns along the Mediterranean. The provincial average price is €2,595/m², representing an increase of 14.8%. Among the most expensive municipalities are Jávea (€3,958/m²), Calpe (€3,438/m²), Altea (€3,415/m²), Benitachell (€3,335/m²), Benidorm (€3,246/m²) and Denia (€3,217/m²).
Regarding price increases, Salinas stands out with a 38.7% rise, although it remains one of the most affordable municipalities (€950/m²). Dolores (+33.7%) and Catral (+33.1%) also experienced significant price growth.
With strong price increases, other key locations also saw significant growth, including Jávea (+19.8%), Santa Pola (+16.5%), Benidorm (+15%), Torrevieja (+14.3%), and Denia (+14%).
In short, the Spanish real estate market continues to set record highs in numerous areas, with Madrid and the main tourist destinations leading both in terms of prices and growth rates.
In conclusion, the Spanish residential real estate sector is currently experiencing historically high prices, particularly in high-demand areas such as the Balearic Islands, Barcelona, and the Costa Brava. For investors and buyers, this current situation requires a more thorough analysis of local trends and the specific dynamics of each regional market.