Gesvalt, a leading company in the consultancy, valuation and technical services sector, has published its latest Housing Report for the second quarter of the year. According to the study, prepared from our own data by our Research department, the average price of housing sales in Spain reflects a year-on-year increase of 12,7% compared to the same period of the previous year, with house prices standing at 1.816 €/m².
Compared with the previous quarter, there was an increase of 5,1% with regard to the 1.728 €/m² of the report for the first quarter of 2025.
At today's average price, buying a 90 m² standard dwelling requires an estimated investment of 163.440 euros, This is an increase of more than 18,000 euros compared to the second quarter of 2024, when the average cost was 145,080 euros.
This acceleration in price growth partially reverses the slowdown observed at the beginning of the year, reflecting the persistent impact of limited supply in the face of continued strong demand in many regional markets.
Several indicators reinforce the idea of a gradual reactivation of the sector during the first half of 2025. Among them, the rebound in the volume of sales and mortgages stands out, with close to 120,000 mortgage operations registered between January and March, representing a growth of close to 20% y-o-y compared to the same period in 2024.
Beyond the increase in sales and mortgages, other indicators offer a more nuanced view of market developments. This is the case of the construction management visas, which have experienced a remarkable year-on-year increase of 19.41 Q3Y03Q in new building permits, consolidating the recovery noted in previous reports. However, the certificates of completion have registered a fall of 11.4% compared to last year, showing that the upturn in activity projected by developers has not yet translated into a higher volume of housing completions.
Generalised increases in all regions with Extremadura as the only exception.
During this period, all the Autonomous Communities have recorded year-on-year increases in the average selling price, except Extremadura, which has suffered a price reduction, with a fall of -1.11 QoQTR. The The largest increases have been recorded in the Madrid region. (+15,8%), Canary Islands (+13,2%), Region of Murcia (+12,5%), Valencian Community (+11,8%), Balearic Islands (+11,5%) and Cantabria (+11.31 TDP3T). By contrast, the most moderate increases occurred in Castilla-La Mancha (+2.0%), Castilla y León (+2.0%), Navarra (+2.3%), Galicia (+3.1%) and Aragón (+3.6%).
One more quarter The Balearic Islands remains the region with the highest average prices (3.213 €/m²), followed by the Community of Madrid (3,011 €/m²) and the Basque Country (2.540 €/m²). These are the only three regions that exceed €2,000/m². At the other extreme are Extremadura (881 €/m²) and Castilla-La Mancha (943 €/m²), the only regions below the €1,000/m² threshold.
At the level of provinces, the most notable year-on-year upturns are observed in Madrid (+15,8%), Santa Cruz de Tenerife (+15,4%), Alicante (+14,6%), Valencia (+14,2%), Malaga (+14,0%), Barcelona (+13,6%), Murcia (+12,5%), Balearic Islands (+11,5%), Cantabria (+11,3%), Las Palmas (+11,3%) and Castellón (+10.1%). These provinces are the only ones that have registered increases of more than 10% with respect to the same period of the previous year. In contrast, prices fell in Ourense (-6.5%), Cuenca (-2.5%), Badajoz (-2.0%), Teruel (-1.6%), Ciudad Real (-1.6%) and Córdoba (-0.4%).
The provinces with the highest prices per square metre are located in Balearic Islands (3.213 €/m²), Guipúzcoa (3.084 €/m²), Madrid (3.011 €/m²), Malaga (2.839 €/m²), Vizcaya (2.554 €/m²), Barcelona (2,254 €/m²) and Álava (€2,006/m²), all with prices above the €2,000/m² mark. In contrast, a total of fourteen provinces still register values below €1,000/m², The most affordable are Ciudad Real (652 €/m²), Cuenca (757 €/m²), Jaén (824 €/m²), Teruel (850 €/m²) and Cáceres (877 €/m²).
In terms of prices by provincial capitals, San Sebastián retains the lead with an average price of 4,544 €/m², followed by Madrid (4.195 €/m²) and Barcelona (3.941 €/m²). Also noteworthy are Palma de Mallorca (3,161 €/m²), Malaga (2,851 €/m²) and Bilbao (2,737 €/m²), which exceed 2,500 €/m². On the other hand, the The most affordable cities are Lérida, Cáceres, Teruel, Palencia, Jaén and Ciudad Real., with prices close to €1,000/m².
Rents continue to rise, albeit with territorial disparity
The rental market remains buoyant, with increases across the board. The the largest increases have been registered in the provinces of Segovia (+19,9%), Zamora (+17,0%) and Avila (+15.3%), while Lérida was the only province with a fall in rents (-3.1%). On the other hand, Gerona (+1.7%), Navarra (+2.8%), Huelva (+3.3%), Pontevedra and Jaén (+3.4%) presented annual increases below 4%.
By provincial capitals, the highest rents, above 15 €/m² per month, are located in Barcelona, Madrid, San Sebastian, Palma de Mallorca, Malaga, Valencia, Las Palmas and Bilbao.. On the other hand, the most affordable are in Teruel, Ciudad Real, Cuenca, Badajoz, Jaén, Ourense and Cáceres., 7 €/m² per month.