Overview
- The Consejo General del Notariado reports the national average reached €1,902/m² in 2025, 3.8% above the 2007 nominal peak after a 7.5% annual rise and a 57.5% climb from post‑crisis lows, though real prices remain below prior highs.
- Only five communities have surpassed their previous peaks—Balearic Islands (+72.7%), Canary Islands (+28.3%), Community of Madrid (+26.7%), Andalusia (+8.3%) and the Valencian Community (+0.7%)—with regions like La Rioja and Castilla‑La Mancha still more than 30% below.
- In Madrid, notarial prices rose 13% in 2025 to €3,463/m², the sharpest annual gain in over 15 years, while Fotocasa’s January 2026 asking‑price index places the region at €5,225/m² (+19.6% year on year), underscoring differences between transaction and offer data.
- Buyer pressure on listings is most intense in the capital and nearby Alcalá de Henares, which top Idealista’s Q4 2025 ranking, with other hotspots including Zaragoza, Valencia, Santa Cruz de Tenerife and Santa Coloma de Gramenet.
- The buyer mix is shifting as foreign participation rises and youth access falls, with foreigners accounting for 31.5% of Q4 purchases in the Balearics and Catalonia’s share of buyers aged 18–30 down to 12.84% in 2025 as foreign buyers reached 20.82%.