Spain · report
Affordability in Spain
At the average appraised value, a 90 m² home costs €211,950. With 10% down and a 30-year mortgage, the payment is €808 a month. Spain sets no cap on the payment; lenders must assess each borrower's solvency.
- Payment, two incomes
- 24%
- Payment, one income
- 49%
Try your own numbers
Starting from the average appraised value of €2,355/m² in Spain, a median income of €19,950 a year per consumption unit (2024, Spain) and a mortgage rate of 3.0% (August 2026).
The payment takes 24% of income. Spain sets no limit on it.
- Home price
- €211,950
- Monthly payment
- €804
- Share of net income
- 24%
The mortgage payment as a share of income, year by year
A 90 m² home with 10% down over 30 years, at each year's average price and rate, against one and against two of that year's median incomes.
- Two median incomes
- One median income
Show the numbers
| Period | Two median incomes | One median income |
|---|---|---|
| 2024 | 21.2% | 42.3% |
| 2023 | 21.5% | 43.1% |
| 2022 | 17.5% | 35.1% |
| 2021 | 16.5% | 33.1% |
Spain against the EU
Share of people spending over 40% of their disposable income on housing, then the rest of Eurostat's survey of living conditions. These are national figures, shown here as context.
- Spain
- EU
Show the numbers
| Year | Spain | EU |
|---|---|---|
| 2025 | 7.2% | 7.7% |
| 2024 | 7.8% | 8.2% |
| 2023 | 8.2% | 8.8% |
| 2022 | 9.2% | 8.7% |
| 2021 | 9.9% | 8.7% |
| 2020 | 8.2% | 7.8% |
| 2019 | 8.5% | 9.4% |
| 2018 | 8.9% | 9.6% |
| 2017 | 9.8% | 10.1% |
| 2016 | 10.2% | 10.9% |
| 2015 | 10.3% | 11.2% |
| 2014 | 10.9% | 11.5% |
| 2013 | 10.3% | 11.6% |
| 2012 | 10.7% | 11.5% |
| 2011 | 10.0% | 10.6% |
| 2010 | 9.7% | 10.0% |
| Share of people who | Spain | EU |
|---|---|---|
| Spend over 40% of income on housing | 6.3% | 7.7% |
| … nationals (adults) | 4.4% | 7.1% |
| … citizens of another EU country (adults) | 17.1% | 15.2% |
| … non-EU citizens (adults) | 38.0% | 18.1% |
| Live in an overcrowded home | 12.7% | 16.8% |
| Own their home outright | 39.7% | 43.7% |
| Own with a mortgage | 31.5% | 24.8% |
| Rent at market price | 16.3% | 20.8% |
| Rent at a reduced price or free | 12.5% | 10.7% |
Income is INE's median income per consumption unit, from tax records: a household's net income divided by its consumption units, so one income is a single adult's. Spain sets no limit on the payment as a share of income: the Banco de España has the power to set one and has not used it, and the law requires lenders to assess solvency instead.
Other reports for Spain
Asking prices have an 80% chance of landing between €3,001/m² and €3,338/m² by September 2027.
- Expected, September 2027
- €3,170/m²
- Chance of a rise
- 97%
In Q2 2026, sellers asked 22.2% more than appraisers valued homes at. A year ago the gap was +14.3%.
- Gap today
- +22.2%
- Change in a year
- +7.9 pp
42.5% more homes were licensed for construction in the last 12 months than in an average year of the past decade.
- Licensed, 12 months
- 146,376
- Per 1,000 residents
- 3.0
Buyers living abroad bought 7.0% of the homes sold here in the four quarters to Q2 2026.
- Bought by buyers abroad, 12 months
- 7.0%
Appraised values have fallen by 3% or more 2 times since 1995. The deepest began in Q1 2008.
- Deepest fall
- −30.7%
- Recovery from the low
- 132 months
In 2024 the population grew by 510,212 while 97,837 homes were finished: 5.2 new residents for every new home.
- New residents per new home, 2024
- 5.2
- Population change, 2024
- +510,212
14.4% of the 26,623,708 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.
- Empty, 2021 census
- 14.4%
- Empty homes
- 3,828,307
In 2025, 16% of the homes authorised were in existing buildings: conversions, extensions and changes of use.
- Homes in existing buildings, 2025
- 16%
Public bodies signed €771.7M of housing works here in 2025, and €2.4B since 2017.
- Signed in 2025
- €771.7M
- Per resident, 2025
- €16