Madrid · report
Past price cycles in Madrid
Appraised values have fallen by 3% or more once since 2005. That fall began in Q1 2007.
- Deepest fall
- −39.0%
- Recovery from the low
- 114 months
Prices in Madrid and in Spain, indexed
Appraised values, both set to 100 in Q1 2005.
- Madrid
- Spain
- 100 = Q1 2005
Show the numbers
| Period | Madrid | Spain |
|---|---|---|
| Q2 2026 | 162.1 | 139.7 |
| Q1 2026 | 163.5 | 137.4 |
| Q4 2025 | 158.1 | 132.3 |
| Q3 2025 | 150.6 | 127.8 |
| Q2 2025 | 148.2 | 124.2 |
| Q1 2025 | 140.9 | 120.6 |
| Q4 2024 | 133.6 | 117.0 |
| Q3 2024 | 127.8 | 114.0 |
| Q2 2024 | 124.0 | 112.5 |
| Q1 2024 | 120.1 | 110.7 |
| Q4 2023 | 115.2 | 109.3 |
| Q3 2023 | 112.4 | 107.5 |
| Q2 2023 | 111.5 | 106.4 |
| Q1 2023 | 113.4 | 106.1 |
| Q4 2022 | 107.0 | 103.8 |
| Q3 2022 | 106.5 | 103.2 |
| Q2 2022 | 109.0 | 103.3 |
| Q1 2022 | 107.3 | 102.9 |
| Q4 2021 | 102.4 | 100.5 |
| Q3 2021 | 99.4 | 98.6 |
| Q2 2021 | 98.4 | 97.9 |
| Q1 2021 | 95.9 | 96.4 |
| Q4 2020 | 93.2 | 96.3 |
| Q3 2020 | 95.6 | 96.1 |
| Q2 2020 | 95.0 | 95.5 |
| Q1 2020 | 97.9 | 97.3 |
| Q4 2019 | 99.7 | 98.1 |
| Q3 2019 | 96.5 | 97.2 |
| Q2 2019 | 96.4 | 97.2 |
| Q1 2019 | 96.9 | 97.1 |
| Q4 2018 | 92.9 | 96.0 |
| Q3 2018 | 90.2 | 94.3 |
| Q2 2018 | 90.1 | 94.2 |
| Q1 2018 | 87.5 | 93.0 |
| Q4 2017 | 85.6 | 92.5 |
| Q3 2017 | 82.3 | 91.4 |
| Q2 2017 | 80.1 | 90.8 |
| Q1 2017 | 79.3 | 90.5 |
| Q4 2016 | 78.6 | 89.7 |
| Q3 2016 | 76.7 | 89.0 |
| Q2 2016 | 77.5 | 89.4 |
| Q1 2016 | 75.8 | 88.5 |
| Q4 2015 | 74.9 | 88.4 |
| Q3 2015 | 73.8 | 87.6 |
| Q2 2015 | 74.6 | 87.6 |
| Q1 2015 | 72.1 | 86.5 |
| Q4 2014 | 71.7 | 86.8 |
| Q3 2014 | 71.0 | 86.4 |
| Q2 2014 | 71.4 | 86.6 |
| Q1 2014 | 71.1 | 86.6 |
| Q4 2013 | 72.9 | 87.0 |
| Q3 2013 | 73.0 | 88.7 |
| Q2 2013 | 72.3 | 89.2 |
| Q1 2013 | 72.6 | 90.0 |
| Q4 2012 | 74.2 | 90.9 |
| Q3 2012 | 75.5 | 92.9 |
| Q2 2012 | 76.3 | 95.3 |
| Q1 2012 | 82.9 | 97.9 |
| Q4 2011 | 85.7 | 101.0 |
| Q3 2011 | 85.6 | 102.6 |
| Q2 2011 | 86.4 | 104.0 |
| Q1 2011 | 87.4 | 105.5 |
| Q4 2010 | 91.8 | 108.3 |
| Q3 2010 | 95.1 | 108.7 |
| Q2 2010 | 98.0 | 109.7 |
| Q1 2010 | 98.6 | 110.7 |
| Q4 2009 | 99.9 | 112.3 |
| Q3 2009 | 103.1 | 112.5 |
| Q2 2009 | 100.8 | 114.0 |
| Q1 2009 | 105.7 | 116.2 |
| Q4 2008 | 106.8 | 119.8 |
| Q3 2008 | 114.1 | 122.7 |
| Q2 2008 | 115.9 | 124.3 |
| Q1 2008 | 115.0 | 124.7 |
| Q4 2007 | 115.5 | 123.7 |
| Q3 2007 | 115.0 | 122.3 |
| Q2 2007 | 113.3 | 121.9 |
| Q1 2007 | 116.4 | 120.1 |
| Q4 2006 | 111.5 | 118.1 |
| Q3 2006 | 111.2 | 116.1 |
| Q2 2006 | 110.7 | 115.2 |
| Q1 2006 | 109.4 | 112.0 |
| Q4 2005 | 107.8 | 108.2 |
| Q3 2005 | 106.6 | 105.7 |
| Q2 2005 | 104.8 | 104.0 |
| Q1 2005 | 100.0 | 100.0 |
Every fall of 3% or more
From the peak to the lowest month after it, and how long prices took to get back.
| Peak | Low | Fall | Months falling | Months to recover |
|---|---|---|---|---|
| Q1 2007 | Q3 2014 | −39.0% | 90 | 114 |
Spain against the EU since 2015
Eurostat's house price index for all dwellings, 2015 = 100. National figures, comparable across member states.
- Spain
- EU
- 2015 = 100
Show the numbers
| Period | Spain | EU |
|---|---|---|
| Q2 2026 | 200.6 | 168.6 |
| Q1 2026 | 194.1 | 166.5 |
| Q4 2025 | 187.5 | 164.6 |
| Q3 2025 | 184.1 | 163.5 |
| Q2 2025 | 178.9 | 161.0 |
| Q1 2025 | 172.0 | 158.5 |
| Q4 2024 | 166.1 | 156.2 |
| Q3 2024 | 163.1 | 155.1 |
| Q2 2024 | 158.6 | 152.7 |
| Q1 2024 | 153.2 | 149.8 |
| Q4 2023 | 149.1 | 148.9 |
| Q3 2023 | 150.7 | 149.1 |
| Q2 2023 | 147.0 | 148.2 |
| Q1 2023 | 144.0 | 147.6 |
| Q4 2022 | 143.0 | 148.7 |
| Q3 2022 | 144.2 | 150.9 |
| Q2 2022 | 141.7 | 149.6 |
| Q1 2022 | 139.1 | 146.2 |
| Q4 2021 | 135.6 | 143.2 |
| Q3 2021 | 133.9 | 140.2 |
| Q2 2021 | 131.2 | 136.0 |
| Q1 2021 | 128.1 | 132.1 |
| Q4 2020 | 127.6 | 129.8 |
| Q3 2020 | 128.6 | 128.1 |
| Q2 2020 | 127.0 | 126.3 |
| Q1 2020 | 126.9 | 124.4 |
| Q4 2019 | 125.4 | 122.7 |
| Q3 2019 | 126.3 | 121.5 |
| Q2 2019 | 124.3 | 119.8 |
| Q1 2019 | 122.9 | 117.6 |
| Q4 2018 | 121.0 | 116.8 |
| Q3 2018 | 120.5 | 115.9 |
| Q2 2018 | 117.9 | 114.2 |
| Q1 2018 | 115.0 | 112.3 |
| Q4 2017 | 113.4 | 111.2 |
| Q3 2017 | 112.4 | 110.4 |
| Q2 2017 | 110.4 | 108.8 |
| Q1 2017 | 108.2 | 106.9 |
| Q4 2016 | 105.8 | 106.1 |
| Q3 2016 | 105.4 | 105.4 |
| Q2 2016 | 104.6 | 103.8 |
| Q1 2016 | 102.7 | 102.0 |
| Q4 2015 | 101.3 | 101.1 |
| Q3 2015 | 101.3 | 100.8 |
| Q2 2015 | 100.7 | 99.8 |
| Q1 2015 | 96.7 | 98.3 |
Appraised values go back to 1995 for Spain, its regions and provinces, and to 2005 for municipalities over 25,000 inhabitants. They are quarterly, so falls are dated by quarter. A fall counts once values drop 3% below a peak, and ends when they are back at it.
Other reports for Madrid
At the average appraised value, a 90 m² home costs €487,656. With 10% down and a 30-year mortgage, the payment is €1,860 a month. Spain sets no cap on the payment; lenders must assess each borrower's solvency.
- Payment, two incomes
- 46%
- Payment, one income
- 92%
Renting a 90 m² home costs less each month than owning it. Owning counts interest, running costs and the return the deposit could earn, at the appraised value; rent is the mean of new leases. Repaying the loan is saving, so it is left out.
- Rent per month
- €1,544
- Owning per month
- €1,725
2.5% more homes were licensed for construction in the last 12 months than in an average year of the past decade.
- Licensed, 12 months
- 19,301
- Per 1,000 residents
- 5.5
Buyers living abroad bought 1.4% of the homes sold here in the four quarters to Q2 2026.
- Bought by buyers abroad, 12 months
- 1.4%
6.3% of the 1,533,221 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.
- Empty, 2021 census
- 6.3%
- Empty homes
- 96,921