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Spain’s Housing Market Sets New Q1 Records for Prices, Sales and Mortgages

A shortage of new construction is pushing prices higher in the most sought‑after areas.

Overview

  • Spain’s property registrars report the national average reached €2,429 per m² in Q1, up 8.9% from a year earlier.
  • The repeat‑sales price index rose 17.6% year over year and now stands 36.5% above the 2007 peak.
  • Barcelona’s average hit €4,922 per m², ranking third nationwide behind San Sebastián (€6,154) and Madrid (€5,428).
  • Home sales totaled 178,096 in Q1 as lenders issued 133,618 mortgages, up 15.2% year over year, with a record €172,430 average loan.
  • Foreign buyers accounted for 13.92% of purchases, with shares above 20% in the Balearic Islands, Valencia, the Canary Islands and Murcia.