Spain · report
House prices in Spain: the next 12 months
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%
Spain: five years of prices and the expected path
Asking price, € per m², monthly, with the next 12 months' expected path
- Spain
- Expected path
- 80% range
Show the numbers
| Period | Spain |
|---|---|
| Sep 2027 · Expected path | €3,170/m² (€3,001/m²–€3,338/m²) |
| Aug 2027 · Expected path | €3,150/m² (€2,991/m²–€3,308/m²) |
| Jul 2027 · Expected path | €3,130/m² (€2,980/m²–€3,279/m²) |
| Jun 2027 · Expected path | €3,110/m² (€2,969/m²–€3,250/m²) |
| May 2027 · Expected path | €3,090/m² (€2,959/m²–€3,220/m²) |
| Apr 2027 · Expected path | €3,070/m² (€2,949/m²–€3,190/m²) |
| Mar 2027 · Expected path | €3,050/m² (€2,940/m²–€3,160/m²) |
| Feb 2027 · Expected path | €3,030/m² (€2,931/m²–€3,129/m²) |
| Jan 2027 · Expected path | €3,010/m² (€2,923/m²–€3,097/m²) |
| Dec 2026 · Expected path | €2,990/m² (€2,915/m²–€3,064/m²) |
| Nov 2026 · Expected path | €2,970/m² (€2,910/m²–€3,030/m²) |
| Oct 2026 · Expected path | €2,950/m² (€2,908/m²–€2,992/m²) |
| Sep 2026 | €2,930/m² |
| Aug 2026 | €2,924/m² |
| Jul 2026 | €2,933/m² |
| Jun 2026 | €2,914/m² |
| May 2026 | €2,881/m² |
| Apr 2026 | €2,839/m² |
| Mar 2026 | €2,807/m² |
| Feb 2026 | €2,771/m² |
| Jan 2026 | €2,739/m² |
| Dec 2025 | €2,639/m² |
| Nov 2025 | €2,605/m² |
| Oct 2025 | €2,555/m² |
| Sep 2025 | €2,517/m² |
| Aug 2025 | €2,498/m² |
| Jul 2025 | €2,471/m² |
| Jun 2025 | €2,438/m² |
| May 2025 | €2,391/m² |
| Apr 2025 | €2,350/m² |
| Mar 2025 | €2,311/m² |
| Feb 2025 | €2,271/m² |
| Jan 2025 | €2,237/m² |
| Dec 2024 | €2,271/m² |
| Nov 2024 | €2,244/m² |
| Oct 2024 | €2,209/m² |
| Sep 2024 | €2,182/m² |
| Aug 2024 | €2,176/m² |
| Jul 2024 | €2,153/m² |
| Jun 2024 | €2,138/m² |
| May 2024 | €2,120/m² |
| Apr 2024 | €2,098/m² |
| Mar 2024 | €2,079/m² |
| Feb 2024 | €2,056/m² |
| Jan 2024 | €2,049/m² |
| Dec 2023 | €2,042/m² |
| Nov 2023 | €2,027/m² |
| Oct 2023 | €2,016/m² |
| Sep 2023 | €2,007/m² |
| Aug 2023 | €2,004/m² |
| Jul 2023 | €1,996/m² |
| Jun 2023 | €1,990/m² |
| May 2023 | €1,976/m² |
| Apr 2023 | €1,963/m² |
| Mar 2023 | €1,943/m² |
| Feb 2023 | €1,918/m² |
| Jan 2023 | €1,894/m² |
| Dec 2022 | €1,888/m² |
| Nov 2022 | €1,894/m² |
| Oct 2022 | €1,883/m² |
| Sep 2022 | €1,867/m² |
| Aug 2022 | €1,870/m² |
| Jul 2022 | €1,862/m² |
| Jun 2022 | €1,849/m² |
| May 2022 | €1,844/m² |
| Apr 2022 | €1,829/m² |
| Mar 2022 | €1,810/m² |
| Feb 2022 | €1,801/m² |
| Jan 2022 | €1,807/m² |
| Dec 2021 | €1,809/m² |
| Nov 2021 | €1,810/m² |
| Oct 2021 | €1,802/m² |
What the model expects
The central estimate at each horizon, and the range prices land in 8 times out of 10.
| Horizon | Expected | 80% range | Chance of a rise | Chance of beating inflation |
|---|---|---|---|---|
| In 3 months (December 2026) | €2,990/m² | €2,915/m² – €3,064/m² | 85% | 66% |
| In 12 months (September 2027) | €3,170/m² | €3,001/m² – €3,338/m² | 97% | 76% |
The outlook carries the region's own monthly price history forward: the recent trend and how far prices usually stray from it. It knows nothing about interest-rate decisions, new laws or local projects, so read it as a description of momentum, not a forecast to act on.
Other reports for 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%
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