País Vasco · report
Past price cycles in País Vasco
Appraised values have fallen by 3% or more 2 times since 1995. The deepest began in Q1 2008.
- Deepest fall
- −22.9%
- Recovery from the low
- 90 months
Prices in País Vasco and in Spain, indexed
Appraised values, both set to 100 in Q1 1995.
- País Vasco
- Spain
- 100 = Q1 1995
Show the numbers
| Period | País Vasco | Spain |
|---|---|---|
| Q2 2026 | 334.8 | 351.1 |
| Q1 2026 | 327.7 | 345.2 |
| Q4 2025 | 320.2 | 332.4 |
| Q3 2025 | 309.3 | 321.0 |
| Q2 2025 | 301.4 | 312.1 |
| Q1 2025 | 293.1 | 303.1 |
| Q4 2024 | 284.1 | 294.0 |
| Q3 2024 | 278.8 | 286.4 |
| Q2 2024 | 282.8 | 282.6 |
| Q1 2024 | 277.9 | 278.1 |
| Q4 2023 | 276.9 | 274.6 |
| Q3 2023 | 272.9 | 270.2 |
| Q2 2023 | 275.1 | 267.3 |
| Q1 2023 | 274.2 | 266.6 |
| Q4 2022 | 271.7 | 260.8 |
| Q3 2022 | 272.4 | 259.4 |
| Q2 2022 | 269.8 | 259.5 |
| Q1 2022 | 270.1 | 258.5 |
| Q4 2021 | 264.9 | 252.5 |
| Q3 2021 | 261.3 | 247.7 |
| Q2 2021 | 262.4 | 245.9 |
| Q1 2021 | 262.1 | 242.3 |
| Q4 2020 | 258.1 | 241.8 |
| Q3 2020 | 252.9 | 241.4 |
| Q2 2020 | 258.1 | 240.0 |
| Q1 2020 | 259.2 | 244.5 |
| Q4 2019 | 261.7 | 246.4 |
| Q3 2019 | 259.3 | 244.2 |
| Q2 2019 | 256.7 | 244.1 |
| Q1 2019 | 259.6 | 243.9 |
| Q4 2018 | 256.4 | 241.3 |
| Q3 2018 | 252.5 | 237.0 |
| Q2 2018 | 257.0 | 236.7 |
| Q1 2018 | 254.8 | 233.5 |
| Q4 2017 | 257.6 | 232.4 |
| Q3 2017 | 255.5 | 229.6 |
| Q2 2017 | 258.7 | 228.1 |
| Q1 2017 | 258.7 | 227.5 |
| Q4 2016 | 254.3 | 225.4 |
| Q3 2016 | 254.9 | 223.6 |
| Q2 2016 | 259.0 | 224.6 |
| Q1 2016 | 254.7 | 222.5 |
| Q4 2015 | 257.4 | 222.1 |
| Q3 2015 | 259.6 | 220.0 |
| Q2 2015 | 263.5 | 220.2 |
| Q1 2015 | 259.6 | 217.3 |
| Q4 2014 | 260.8 | 218.1 |
| Q3 2014 | 263.2 | 217.0 |
| Q2 2014 | 263.7 | 217.5 |
| Q1 2014 | 263.5 | 217.6 |
| Q4 2013 | 264.6 | 218.7 |
| Q3 2013 | 270.5 | 222.9 |
| Q2 2013 | 273.8 | 224.0 |
| Q1 2013 | 272.4 | 226.1 |
| Q4 2012 | 271.7 | 228.3 |
| Q3 2012 | 270.6 | 233.4 |
| Q2 2012 | 271.5 | 239.5 |
| Q1 2012 | 275.7 | 245.9 |
| Q4 2011 | 277.0 | 253.7 |
| Q3 2011 | 280.5 | 257.8 |
| Q2 2011 | 278.3 | 261.2 |
| Q1 2011 | 281.0 | 265.0 |
| Q4 2010 | 285.5 | 272.1 |
| Q3 2010 | 282.8 | 273.1 |
| Q2 2010 | 288.9 | 275.6 |
| Q1 2010 | 291.3 | 278.1 |
| Q4 2009 | 295.5 | 282.1 |
| Q3 2009 | 298.7 | 282.8 |
| Q2 2009 | 300.1 | 286.4 |
| Q1 2009 | 306.9 | 291.9 |
| Q4 2008 | 312.8 | 300.9 |
| Q3 2008 | 326.4 | 308.4 |
| Q2 2008 | 326.6 | 312.4 |
| Q1 2008 | 327.7 | 313.3 |
| Q4 2007 | 320.5 | 310.9 |
| Q3 2007 | 318.9 | 307.3 |
| Q2 2007 | 316.9 | 306.3 |
| Q1 2007 | 310.0 | 301.8 |
| Q4 2006 | 304.8 | 296.7 |
| Q3 2006 | 304.0 | 291.7 |
| Q2 2006 | 297.1 | 289.5 |
| Q1 2006 | 293.1 | 281.4 |
| Q4 2005 | 279.1 | 272.0 |
| Q3 2005 | 273.9 | 265.6 |
| Q2 2005 | 268.3 | 261.3 |
| Q1 2005 | 263.9 | 251.3 |
| Q4 2004 | 256.2 | 241.2 |
| Q3 2004 | 248.8 | 234.2 |
| Q2 2004 | 239.8 | 229.4 |
| Q1 2004 | 231.4 | 217.1 |
| Q4 2003 | 227.4 | 205.8 |
| Q3 2003 | 226.9 | 200.5 |
| Q2 2003 | 224.8 | 195.2 |
| Q1 2003 | 218.7 | 183.4 |
| Q4 2002 | 210.3 | 173.6 |
| Q3 2002 | 205.8 | 170.3 |
| Q2 2002 | 195.0 | 166.6 |
| Q1 2002 | 188.9 | 156.8 |
| Q4 2001 | 184.2 | 148.0 |
| Q3 2001 | 182.3 | 146.5 |
| Q2 2001 | 176.0 | 143.5 |
| Q1 2001 | 168.6 | 138.7 |
| Q4 2000 | 161.7 | 133.2 |
| Q3 2000 | 158.8 | 132.9 |
| Q2 2000 | 151.5 | 131.2 |
| Q1 2000 | 144.9 | 127.6 |
| Q4 1999 | 135.9 | 123.6 |
| Q3 1999 | 131.1 | 123.4 |
| Q2 1999 | 124.5 | 120.1 |
| Q1 1999 | 117.7 | 116.3 |
| Q4 1998 | 115.0 | 112.8 |
| Q3 1998 | 109.0 | 115.8 |
| Q2 1998 | 108.2 | 113.6 |
| Q1 1998 | 104.7 | 106.8 |
| Q4 1997 | 104.2 | 104.8 |
| Q3 1997 | 101.8 | 108.3 |
| Q2 1997 | 102.9 | 108.3 |
| Q1 1997 | 101.3 | 103.0 |
| Q4 1996 | 104.7 | 103.5 |
| Q3 1996 | 104.7 | 103.0 |
| Q2 1996 | 100.3 | 104.0 |
| Q1 1996 | 101.3 | 102.3 |
| Q4 1995 | 97.6 | 103.3 |
| Q3 1995 | 100.0 | 101.8 |
| Q2 1995 | 99.5 | 102.3 |
| Q1 1995 | 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 |
|---|---|---|---|---|
| Q4 1996 | Q1 1997 | −3.3% | 3 | 12 |
| Q1 2008 | Q3 2018 | −22.9% | 126 | 90 |
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 País Vasco
Figures for Spain: País Vasco has no reliable figures of its own.
At the average appraised value, a 90 m² home costs €279,207. With 10% down and a 30-year mortgage, the payment is €1,065 a month. Spain sets no cap on the payment; lenders must assess each borrower's solvency.
- Payment, two incomes
- 32%
- Payment, one income
- 64%
29.1% fewer homes were licensed for construction in the last 12 months than in an average year of the past decade.
- Licensed, 12 months
- 3,963
- Per 1,000 residents
- 1.8
Buyers living abroad bought 0.7% of the homes sold here in the four quarters to Q2 2026.
- Bought by buyers abroad, 12 months
- 0.7%
In 2024 the population grew by 14,743 while 4,293 homes were finished: 3.4 new residents for every new home.
- New residents per new home, 2024
- 3.4
- Population change, 2024
- +14,743
6.5% of the 1,075,076 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.
- Empty, 2021 census
- 6.5%
- Empty homes
- 69,692
In 2025, 15% of the homes authorised were in existing buildings: conversions, extensions and changes of use.
- Homes in existing buildings, 2025
- 15%
Public bodies signed €148.6M of housing works here in 2025, and €259.5M since 2017.
- Signed in 2025
- €148.6M
- Per resident, 2025
- €66