Overview
- INE data show 176,221 residential transactions in Q3 2025, the highest quarterly total since 2007, with year-to-date sales up 14.4%.
- September recorded 63,794 sales, a 3.8% annual rise and the strongest September in the series, rebounding after August’s 3.4% dip.
- New-builds drove the expansion, exceeding 20% of deals and rising 24.1% year to date, as September new-home sales grew 10.8% to 13,823 while used-home transactions rose 2.0%.
- High-cost regions are cooling as prices climb: transactions fell in Madrid, the Balearics and the Canaries, with Madrid’s price per m² up 16.9% to €4,112 and the Balearics at €4,096 after an 11.5% increase.
- Regional gains were led by Castilla-La Mancha (+19%), Navarra (+12.4%) and Andalucía (≈+10%), while Castilla y León outpaced the national rise (+8% to 3,101) and Málaga’s second-hand market stalled as new-builds jumped 23.7% year to date to 32.9% of sales.