Overview
- Official and market data show 2025 closed with steep gains in Spain, with purchase prices up about 9.5% year over year to September and rents near 13% higher.
- More than 600,000 home sales were recorded from January to October and full‑year transactions are expected to top 700,000, likely the second highest since 2007.
- Analysts forecast continued increases in 2026 at milder rates, with CaixaBank Research estimating sale prices could rise a little over 6% as the cycle matures.
- Supply remains tight, with about 150,000 housing permits projected in 2026 versus roughly 140,000 in 2025, while second‑hand homes account for around 80% of deals and new builds show the strongest price gains.
- High‑end districts in Madrid and Barcelona show early stabilization and longer sale times, whereas smaller and tourist markets continue to register firmer advances.