Overview
- Official INE data show a 12.8% year-on-year rise in Q3 2025, marking 42 consecutive quarters of increases and the strongest annual pace in more than 18 years.
- Second-hand housing led the gains with a 13.4% annual increase, the highest in the INE series, while new-build prices rose 9.7% as their growth moderated.
- Quarter-on-quarter, resale prices climbed 3.3% versus a 0.6% increase for new homes, underscoring the dominance of the second-hand market.
- All regions posted annual increases: Murcia led with 15% and Navarra was lowest at 10.9%, while the Basque Country rose 11.6% driven by a 12.5% surge in resales.
- Registradores reported housing transactions fell 3.6% year on year in October, and reporting indicates prices are roughly 21% above pre-bubble levels.