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Spanish Home Prices Jump 12.8% in Q3 as INE Reports Broad Nationwide Surge

Experts cite strong demand plus limited new construction.

Overview

  • Resale homes led the rise with prices up 13.4% year over year, while new-builds increased 9.7% and only 0.6% versus the prior quarter.
  • All autonomous communities recorded gains, topped by Murcia at 15% and Aragón at 14.6%, with Navarra lowest at 10.9% and the Basque Country at 11.6%.
  • In Euskadi, prices exceeded their 2007 peak, with second-hand housing up 12.5% and new-build up 8% year over year.
  • National home prices now stand about 21% above pre‑bubble levels, according to INE data.
  • Compared with the previous quarter, overall prices rose 2.9%, including a 3.3% increase for second-hand homes.