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Spain · report

Asking prices against appraised values in Spain

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

How far asking prices are from appraised values in Spain

Each line sets one measure of price against another, in %. Above zero, the first is higher.

  • Asking price against appraised value, by quarter
  • No gap
Show the numbers
PeriodAsking price against appraised value, by quarter
Q2 202622.2%
Q1 202619.7%
Q4 202516.6%
Q3 202515.9%
Q2 202514.3%
Q1 202511.8%
Q4 202413.7%
Q3 202413.0%
Q2 202411.8%
Q1 202410.5%
Q4 202310.1%
Q3 202310.5%
Q2 202310.2%
Q1 20237.3%
Q4 20228.0%
Q3 20227.3%
Q2 20225.7%
Q1 20224.2%
Q4 20216.7%
Q3 20218.5%
Q2 20218.3%
Q1 20218.2%
Q4 20207.5%
Q3 20206.2%
Q2 20206.3%
Q1 20205.7%
Q4 20194.7%
Q3 20194.7%
Q2 20193.7%
Q1 20192.8%
Q4 20182.8%
Q3 20183.3%
Q2 20181.5%
Q1 20180.7%
Q4 2017-0.9%
Q3 2017-0.4%
Q2 2017-0.9%
Q1 2017-0.9%
Q4 2016-0.7%
Q3 20160.2%
Q2 20160.5%
Q1 20162.0%
Q4 20152.3%
Q3 20153.7%
Q2 20155.0%
Q1 20156.7%
Q4 20146.6%
Q3 20147.1%
Q2 20147.7%
Q1 201410.0%
Q4 201310.8%
Q3 20139.8%
Q2 201310.8%
Q1 201311.5%
Q4 201213.4%
Q3 201213.8%
Q2 201214.4%
Q1 201214.5%
Q4 201113.9%
Q3 201113.8%
Q2 201113.5%
Q1 201111.3%
Q4 20107.7%
Q3 20105.9%
Q2 20103.9%
Q1 20101.6%
Q4 20090.3%
Q3 20090.6%
Q2 20090.8%
Q1 2009-0.5%
Q4 2008-2.7%
Q3 2008-3.6%
Q2 2008-2.1%
Q1 2008-2.1%
Q4 2007-0.0%
Q3 20071.5%
Q2 20072.5%
Q1 20072.5%
Q4 20063.8%
Q3 20064.3%
Q2 20064.2%
Q1 20069.5%

New homes against existing homes, Spain

Eurostat's house price index for Spain, newly built and existing dwellings, 2015 = 100. National figures, shown here as context.

  • Existing homes
  • New homes
  • 2015 = 100
Show the numbers
PeriodExisting homesNew homes
Q2 2026196.9221.3
Q1 2026189.8219.1
Q4 2025183.3211.7
Q3 2025180.1207.1
Q2 2025174.3206.2
Q1 2025167.2200.9
Q4 2024162.0190.4
Q3 2024158.8188.9
Q2 2024154.4183.7
Q1 2024148.9178.8
Q4 2023145.7169.5
Q3 2023147.1171.7
Q2 2023143.8165.4
Q1 2023140.8162.8
Q4 2022140.5157.8
Q3 2022142.4154.9
Q2 2022139.8153.5
Q1 2022136.6153.5
Q4 2021133.4148.6
Q3 2021132.1145.3
Q2 2021129.6141.2
Q1 2021126.2139.6
Q4 2020125.3140.4
Q3 2020126.6139.7
Q2 2020125.9133.4
Q1 2020125.3136.4
Q4 2019124.8129.7
Q3 2019125.6130.2
Q2 2019123.7128.0
Q1 2019122.0128.5
Q4 2018120.6123.2
Q3 2018120.3121.6
Q2 2018117.7119.2
Q1 2018114.8116.2
Q4 2017113.3113.9
Q3 2017112.1114.8
Q2 2017110.0113.1
Q1 2017107.9110.0
Q4 2016105.7106.0
Q3 2016105.1107.7
Q2 2016104.0108.0
Q1 2016102.5104.1
Q4 2015101.2101.7
Q3 2015101.5100.3
Q2 2015100.999.7
Q1 201596.498.3

Asking prices are Idealista's for second-hand homes, averaged over each quarter (Banco de España); appraised values are MIVAU's for free-market homes of any age. Spain as a whole only: neither is published for the same places at the same frequency.

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%

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%

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