Shorouk Express
The average price of a pre-owned home in Spain has reached a historic high of €2,271 per square metre after a monthly increase of 1.5 percent in February, according to the latest index from property portal Idealista.
This figure represents a rise of 1.2 percent in just the last three months and the current price per square metre is the highest on record for leading Spain’s leading property portal.
According to Fotocasa, another of Spain’s main real estate engines, the year-on-year variation in the price of second-hand housing rose by 10.1 percent in February 2025, reaching €2,460 per square metre, even higher than Idealista’s figures.
Spain is currently experiencing a housing crisis and these costs are even higher than at the peak of the property bubble in 2007.
According to the College of Registrars, the sustained rise in prices has led to the average cost of housing reaching “a new historical maximum”.
READ ALSO: What will happen to property prices in Spain in 2025?
A total of 15 regions out of 17 show higher prices now compared with January.
Madrid has the highest increase of 2.5 percent followed by Andalusia with 2.3 percent, the Canary Islands with 2 percent, Asturias with 1.4 percent, the Balearic Islands with 1.3 percent, Cantabria and Murcia with 1.2 percent, Aragón and Valencia with 1.1 percent.
At the other end of the scale increases in Castilla-La Mancha and the Basque Country rose by 1 percent, Catalonia by 0.9 percent, Castilla y León and Galicia by 0.7 percent, and La Rioja by 0.4 percent.
There are only two regions where the price fell compared to January. Navarra with -0.6 percent and Extremadura with -0.1 percent.
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In terms of the most expensive regions to buy in the country Balearic Islands leads at €4,789 /m2. This is followed by Madrid at €3,949 /m2, then the Basque Country at 3,092 /m2 and the Canary Islands at €2,922 /m2. In fifth place is Catalonia at €2,451 /m2.
The cheapest places to buy a property in Spain are Castilla-La Mancha at €943 /m2, Extremadura at €960 /m2 and Castilla y León at €1,195 /m2.
At a provincial level, 42 provinces have prices higher than those registered a month ago. The biggest increase has been seen in Madrid where prices have risen by 2.5 percent, followed by Ávila, Seville and Huesca by 2.4 percent, and Santa Cruz de Tenerife by 2.3 percent.
But there are six provinces which have seen price decreases in used housing during the last month. These include Navarra (-0.6 percent), Zamora (-0.5 percent), Badajoz (-0.4 percent) and Jaén (-0.3 percent).
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When it comes to provinces, the most expensive are again is the Balearics at €4,789 /m2, followed by Madrid at €3,949 m2. Then Guipúzcoa at €3,768 /m2, Málaga at €3,566 /m2, Santa Cruz de Tenerife at €3,103 /m2, Vizcaya at €2,961 /m2 and Barcelona at €2,779 /m2.
Ciudad Real is the cheapest province with a price of €738 per square metre. It is followed by Jaén at €829 /m2 and Cuenca at €841 /m2.
