Overview
- Data for the first half of 2026 show 259,684 mortgages were signed, the strongest H1 total since 2010 and about 7% above the same period in 2025 according to the INE.
- June stood out with 45,907 new mortgages and banks advancing €8,188 million in mortgage credit, which represents year‑on‑year increases in both loan counts and total lending.
- Notaries reported a national average price of €2,064 per square metre in Q2 2026, a nominal level about 12.4% higher than the same period in 2007 and with seven regions above their previous peaks.
- House sales are cooling as transactions fell in June and across the first half of the year, while the Euribor has climbed above 3% by August and the ECB has kept policy rates higher, squeezing affordability.
- Regional outcomes diverge sharply with provinces such as Málaga, Córdoba and Gipuzkoa at multi‑year highs while Galicia and the Basque Country have logged falling mortgage activity, a split that raises questions about how durable the national upswing is and who can afford to buy.