Compiled with the help of artificial intelligence, based on Spanish-language information. Source below the article.
House prices continue upward trend
The price of housing in Spain rose by 12.2% in the second quarter of 2026 compared with the same period last year, extending the run of quarterly increases to 45. The last six quarters have all seen growth of more than 12%, according to figures released this Monday by the National Statistics Institute (INE).
However, the rate has moderated by seven-tenths of a percentage point. By property type, prices for second-hand homes increased by 12.9% between April and June, having spent three consecutive quarters with rates above 13%. New-build properties, meanwhile, saw growth moderate to 7.4% – its lowest rate since the first quarter of 2023.
This rise comes after housing prices started the year with a 12.9% increase in the first quarter of 2026, and following an average annual rise of 12.7% for 2025 as a whole.
All of this is set against a backdrop of a shortage of available properties to meet growing demand, which continues to push prices upward and is making access to housing increasingly difficult, particularly for young people and those with fewer resources.
Quarter-on-quarter comparison
Compared with the previous quarter – the first of 2026 – the price of housing rose by 3.4%. Second-hand property prices climbed 3.7% against the preceding three months, their largest quarterly increase in a year, while new-build prices rose by 1%.
With this latest increase, housing prices have now risen by 7% so far this year. The largest increase has been in second-hand homes, up 7.4%, while new-build properties have seen a 4.6% rise.
Regional breakdown
Housing prices recorded positive annual rates in all of Spain’s regions and autonomous cities in the second quarter of the year, and with the sole exception of Navarre, every region posted double-digit growth.
The largest price increases were seen in the autonomous city of Ceuta (15.2%), followed by Asturias (15%), Castilla y León (14.8%), Aragón (14.6%), and La Rioja and Murcia (14.4% each). Also above the national average were Melilla (13.8%), the Balearic Islands (13.7%), Cantabria (13.5%), the Valencian Community (13%), the Community of Madrid and Galicia (12.9% both), and Extremadura (12.8%).
Below the national average were Andalusia (11.9%), Castilla-La Mancha (11.7%), the Canary Islands (11%), Catalonia (10.1%), the Basque Country (10%) and Navarre (9.5%).
Change in reference year
Starting from the first quarter of 2026, the base year or reference year for this INE statistic has changed to 2025. This brings it into line with the reference period of the harmonised house price index, which has also switched to 2025, in compliance with European Parliament and Council regulations requiring harmonised indices and their sub-indices to be re-based every ten years.
Recently, the valuation firm Tinsa put the annual rise in house prices (new and second-hand) for the second quarter of the year at 15.2% – its largest increase since mid-2006, at the height of the property bubble, and 11.8 percentage points above inflation.
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