At Gesvalt, we have published our latest Housing Report for the third quarter of the year. According to the study, based on the Research Department's own data, the average sale price of housing in Spain reflects a year-on-year increase of 13,8%, setting the value at 1.886 €/m².
Compared to the second quarter of 2025, The average price was 1,816 €/m², while the average price was 1,816 €/m². an increase of 3.9%, This confirms the growth trend, albeit at a more moderate pace than in previous periods. With this average price, to purchase a typical 90m² house currently requires an investment of 169,740 euros, 149,220 euros in the same quarter of 2024.
For our experts, the real estate sector continues to show remarkable dynamism driven by the strength of demand. Sales and mortgages continue on an upward trend, as do the number of mortgages granted. new building permits, up 7.6% year-on-year. However, the Completion certificates fall by 10.9%, This highlights the gap between the start of new projects and the delivery of completed homes. Taken together, these data provide a nuanced view of the market, reflecting both the progress in development activity and the challenges that remain in the delivery of new housing.
The rise in housing prices is widespread in all regions.
During the third quarter of 2025, the average price of housing has increased in all the Autonomous Communities, thus prolonging the growth trend that has been registered in recent years. The The most pronounced rises were in the Comunidad de Madrid (+15.2%), Cantabria (+14.4%), Comunidad Valenciana (+13.4%), Principality of Asturias (+13.3%), Region of Murcia (+12.7%) and Balearic Islands (+10.8%), all with increases of more than 10%. In contrast, regions such as Extremadura (+1.6%), Navarra (+2.9%), Castilla-La Mancha (+3.2%), Galicia and Castilla y León (both +4.3%) and Aragón (+4.5%) experienced more moderate growth, below 5%.
In terms of price per community, The Balearic Islands remains at the top of the regional ranking with 3,358 €/m², followed by the Community of Madrid (3,103 €/m²), the Basque Country (2,620 €/m²) and the Canary Islands (2,028 €/m²)., being the only regions to exceed the €2,000/m² threshold. At the other end of the scale, Extremadura (887 €/m²) and Castilla-La Mancha (962 €/m²) continue to be the most affordable regions, remaining below 1,000 €/m².
By provincial capitals, San Sebastian retains first place with 4.789 €/m², followed by Madrid (4,326 €/m²) and Barcelona (4,043 €/m²). Among the capitals that exceed 2,500 €/m², Palma de Mallorca (3,323 €/m²), Malaga (2,932 €/m²) and Bilbao (2,851 €/m²) stand out. At the other end of the scale, Lérida, Cáceres, Teruel, Ciudad Real, Jaén and Palencia register prices between €2,500 and €2,500. 1.000 and 1.200 €/m²..
Rental market with widespread increases
The rental market remains under upward pressure, with widespread increases in most provinces.. Of note are the increases in Zamora (+19.4%), Segovia (+16.3%) and Teruel (+15.0%). The provinces with more moderate increases were Cuenca (+0.4%), Guipúzcoa (+1.5%) and Huesca (+2.7%). On the other hand, Soria (-2.7%), Cáceres (-1.8%) and Gerona (-0.8%) registered interannual decreases.
In terms of the provinces with the highest rents, Barcelona (23.65 €/m²/month), Madrid (21.81 €/m²/month) and Baleares (19.88 €/m²/month) top the national ranking.. At the other extreme, the provinces with the most affordable rents are Jaén, with 5.99 €/m² per month, and Cáceres, with 6.11 €/m² per month.