The rise in housing prices intensifies in the first quarter of 2026 with a year-on-year increase of 16.4%, which means an additional 25,560 euros when buying a 90 m² house in just one year.
Gesvalt Tasaciones has published its latest Housing Report for the first quarter of the year. According to the study, prepared using our own data by the Research Department, 2026 begins by reaffirming the acceleration of the increase in housing prices and the impact on a large part of the territory. At the close of the first quarter, the average selling price stood at 2,012 €/m², a year-on-year increase of 16.4 1Q03Q and a rise of 2.5 1Q03Q compared to the previous quarter.
In this context, purchasing a standard 90 square metre home requires an average investment of 181,080 euros., as opposed to the 155,520 euros estimated for a house with similar characteristics in the same period in 2025. This implies that buying a house today costs 25,560 euros more in just one year.
The analysis shows that the increase in house prices has intensified in the first quarter of the year, placing the market at a record high. levels increasingly close to previous cycle highs. However, the national average value still remains 15 % below the peak reached in 2007. Also maintains the upward trajectory experienced in 2025, which in the first quarter recorded a price increase of 10.3 % and ended the year with a rise of more than 15 %.
This dynamism in the market is supported by sustained growth in sales and purchases and in the granting of mortgages, reflecting a greater increase in lending. In addition to this, there was a boost in development activity: construction management approvals reached 139,016 units, 8.8 % more than a year ago., This places Andalusia as the region with the highest volume of visas in 2025, with 24.0 % of the total. However, this momentum has not yet translated into an equivalent increase in the available supply, as the final building completion certificates fall by 9.8 % to 88,254 dwellings, This is the result of the persistent lag between the start of new developments and their incorporation into the market, which has persisted for several quarters. This situation anticipates that, if there is no further completion or new construction, the market will become even tighter due to the lack of available supply.
Price rises are generalised in all Communities
During the first quarter of 2026, all the Autonomous Communities once again recorded year-on-year increases in average sales prices, confirming the extension of the bullish cycle to the whole territory.
The largest increases are concentrated in the Region of Murcia (+19.0 1TD03Q), Community of Madrid (+16.4 1TD03Q) and Asturias (+15.9 1TD03Q), followed by Cantabria (+15.5 %) and Andalusia (+15.0 %). At the other end of the scale, La Rioja (+6.1 1TD03T), Extremadura (+6.2 1TD03T) and Galicia (+7.1 1TD03T) are the regions with the most moderate growth, although with no change in sign.
In terms of prices, there is still a wide territorial gap. The Balearic Islands continue to lead the regional ranking, with an average value of 3,439 €/m², followed by the Community of Madrid (3,298 €/m²) and the Basque Country (2,751 €/m²). Some distance behind are the Canary Islands (2,125 €/m²) and Catalonia (1,972 €/m²), while Extremadura, Castilla-La Mancha, Castilla y León, Galicia and La Rioja remain among the regions with the lowest values, with an average price of less than 1,300 €/m².
In provincial capitals, San Sebastian is once again the city with the highest unit value, reaching 4,906 €/m². This is followed by the city of Madrid (4,425 €/m²) and Barcelona (4,127 €/m²), followed by Palma de Mallorca (3,407 €/m²) and Málaga (3,064 €/m²), confirming the leadership of the main urban and coastal markets with high demand. On the other hand, the capitals with the lowest prices are Lérida, Cáceres and Teruel, with values of around 1,150-1,200 €/m².
Rents keep upward pressure
At the provincial level, rental growth is intensifying in several inland regions. Leading the rises are Segovia (+15.4 1TPL3T), Toledo (+14.7 1TPL3T) and Ciudad Real (+14.6 1TPL3T), accompanied by Guadalajara (+12.7 %) and Castellón (+12.3 %). On the other hand, Barcelona (-1.7 %) and Girona (-0.7 %) recorded one-off contractions.
In terms of prices, the highest rents remain concentrated in major urban and tourist markets. Barcelona tops the list with 23.30 €/m²/month, followed by Madrid (22.59 €/m²/month) and the Balearic Islands (20.29 €/m²/month), all of which are above 20 €/m²/month. Guipúzcoa (18.59 €/m²/month) and Málaga (17.11 €/m²/month) also maintain high prices, while Jaén, Teruel, Cáceres, Cuenca and Zamora have the lowest levels below 7 €/m²/month.
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