The Spanish real estate market shows no signs of slowing down. According to the latest report by idealista, the average price of used housing reached €2,350/m² in April 2025 — 12% higher than the same month last year. This marks the highest annual increase since records began, with an additional 5% rise over three months and a 1.7% monthly growth, setting new all-time highs.
Trends by Autonomous Communities
- All regions saw price increases, except Extremadura, where prices fell by 1.2%.
- Madrid led the surge (+23.2%), followed by the Canary Islands (+16.8%), Valencian Community (+16.3%), and Murcia (+15.3%).
- The Balearic Islands (€4,836/m²) and Madrid (€4,148/m²) remain the most expensive regions, while Castilla-La Mancha (€960/m²) and Extremadura (€973/m²) are the most affordable.
Provinces and Capitals: Tourism and Major Cities Drive Demand
- 42 provinces recorded price hikes, notably Madrid (+23.2%) and Santa Cruz de Tenerife (+18.4%). The sharpest declines were in Ourense (-5.9%) and Badajoz (-4.2%).
- Among capitals, Madrid (+24.3%), Valencia (+20.3%), and Málaga (+19.4%) top the list, while Huesca (-5.2%) was the only city with a decline.
- San Sebastián (€5,953/m²) retains its title as the most expensive capital, far ahead of Madrid (€5,467/m²) and Barcelona (€4,875/m²). At the opposite end, Zamora (€1,202/m²) and Jaén (€1,215/m²) offer the lowest prices.
Why are prices rising?
Demand in tourist hotspots (Balearics, Canaries) and major cities (Madrid, Barcelona) continues to fuel the market. However, inland regions like Castilla-La Mancha or Extremadura show slower growth, even declines in some areas. Idealista’s methodology, based on the median price of valid listings and filtered for outliers, highlights this polarization.
April’s record figures confirm a market strained by limited supply and high seller expectations. While coastal and metropolitan areas attract investment, affordable housing remains out of reach for many, especially in cities like Madrid or San Sebastián. The question is: how long will this trend last?