Resale housing prices in Spain finished the second quarter of 2026 with a 17.2 percent year-on-year gain, according to the Fotocasa Real Estate Index.

Prices increased 4 percent between April and June, lifting the national average to €3,133 per square metre by the end of June. The market has set new record highs in four of the first six months of the year and now stands at its highest point in 21 years.

Fotocasa research head and spokesperson María Matos links the trend to a pronounced gap between robust demand and constrained supply. She notes that limited stock, favorable financing terms and demographic pressures in key markets are pushing values higher and complicating access to housing.

Matos states that "the outcome is accelerating price growth that further restricts housing access and widens the affordability gap for many households."

Fotocasa figures align with data from the National Statistics Institute (INE), despite differing methodologies.

The portal tracks asking prices on listings, whereas the INE records transaction prices of completed sales. The institute reported a 12.9 percent year-on-year rise in overall housing prices during the first quarter of 2026, with second-hand homes increasing 13.5 percent.

Murcia leads the increases

Prices advanced in the second quarter across 16 autonomous communities.

The Region of Murcia posted the strongest quarterly gain at 8.6 percent, followed by Cantabria (6.3 percent), the Valencian Community (5.9 percent), Castile and León (5.6 percent) and La Rioja (5.1 percent). The Canary Islands was the sole region to record a decline, falling 0.7 percent.

On an annual basis, Murcia again led with a 28 percent increase, ahead of Cantabria (20 percent), the Valencian Community (19.8 percent), Asturias (17 percent) and Andalusia (16.9 percent).

The report notes that "June 2026 closed with 14 autonomous communities showing double-digit year-on-year rises, compared with 11 in 2025, six in 2024 and seven in 2023".

The Balearic Islands and Madrid remain the priciest regions for resale homes, at €5,441 and €5,410 per square metre respectively.

They are followed by the Basque Country (€3,925), Catalonia (€3,418) and the Canary Islands (€3,374). At the lower end are Extremadura (€1,352), Castile-La Mancha (€1,407) and Castile and León (€1,816).

Provinces, provincial capitals and major cities

Forty-six provinces posted quarterly gains, led by León (10.7 percent), Palencia (10.2 percent) and Murcia (8.6 percent), while Cuenca, Huelva, Santa Cruz de Tenerife and Ávila were the only provinces to see declines.

The Balearic Islands remains the most expensive province at €5,441 per square metre, followed by Madrid (€5,410), Guipúzcoa (€4,695) and Málaga (€4,690). Jaén stays the most affordable at €1,112 per square metre.

Among provincial capitals, León recorded the largest quarterly increase, while Donostia-San Sebastián holds the highest average price in Spain at €7,158 per square metre, ahead of Madrid (€6,630), Barcelona (€5,368), Palma (€5,275), Málaga (€4,320) and Bilbao (€4,157).

At municipal level, Santa Eulària des Riu in Ibiza leads the national ranking at €8,491 per square metre, followed by Sant Antoni de Portmany (€8,284) and Eivissa (€7,441). In Madrid, the Salamanca district reaches €10,786 per square metre, while Sarrià-Sant Gervasi tops Barcelona at €7,540 per square metre.