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Spain’s Home Prices Close In on 2007 Peak as Rents Ease Slightly in Fresh Data

Analysts attribute the surge to demand far outstripping the available housing stock.

Overview

  • Idealista reports October rents up 10.9% year over year to €14.5/m² nationwide, even as the quarter registered a 0.7% decline.
  • Fotocasa’s October reading shows second‑hand home prices up 18% year over year nationally, the portal’s largest annual rise, leaving prices 5.5% below the 2007 bubble high.
  • Fotocasa’s research head María Matos calls the pace “worrying” and says demand is roughly four times the supply, adding that prices could surpass the prior peak in the coming months.
  • In the Region of Murcia, Idealista notes rents rose 7.9% year over year to €8.8/m², while second‑hand sale prices jumped 19.9% year over year and remain 9.9% under their 2006 high.
  • Local snapshots underline divergence: Valencia city’s Jesús district became the cheapest to rent at €12.9/m² as several districts hit records, and nearby Ontinyent (€6.4/m²) and Xàtiva (€7.5/m²) ranked as the province’s most affordable; Barcelona (€24.3/m²), Madrid (€23) and Palma (€18.2) lead in rental costs.