Overview
- The Housing Ministry reports an average price of 2,153 euros per square meter, surpassing the 2008 nominal peak, up 12.1% year over year and 2.9% quarter over quarter after four straight quarters of double‑digit gains.
- Madrid reaches 3,732.5 euros per square meter, a nominal high since the pre‑crisis bubble, though prices remain well below that era in real terms according to the ministry.
- INE data show 176,221 home sales in the third quarter, the strongest since 2007, pushing year‑to‑date transactions 14.4% above 2024, with September up 3.8% to 63,794 for the best September since 2010.
- New‑build homes now account for over 20% of deals, with sales rising about 24% this year versus 12% for second‑hand, reflected locally in Málaga where used sales grew 1.5% and new‑build jumped 23.7% to 32.9% of activity.
- Growth is concentrated in lower‑priced regions such as Castilla‑La Mancha (+19%), Navarra (+12.4%) and Andalucía (above 10%), while sales fell in Baleares (‑9.6%) and edged down in Madrid in September as the Banco de España considers mortgage‑lending limits.