The return to schools brings the same news about the housing situation in Spain as the previous school year. Prices continue to rise, at an average of 12.2% over the last year, and have now chained more than 11 years, 45 quarters, of uninterrupted increases, according to the latest update of the official index from the National Institute of Statistics published today. The situation is more or less similar throughout the country and affects both new and second-hand properties.
The rate published today, corresponding to the second quarter of 2026, moderates by seven tenths, to the aforementioned 12.2% compared to the previous quarter. However, the same rate has had increases above 12% for six quarters, which gives an idea of the price situation.
Housing prices rose in all autonomous communities in the second quarter compared to the same period last year. The highest property revaluations were recorded in Ceuta (15.2%), Asturias (15.0%), and Castilla y León (14.8%). And the lowest, in Navarra (9.5%), Euskadi (10.0%), and Catalunya (10.1%). These are the three regions that have decided to apply regulation to the sector. In Madrid, the year-on-year increase was 12.9%.
Regarding the type of housing, prices of second-hand properties rose by 12.9% in the last year, a rate very similar to those of recent quarters. New housing prices, on the other hand, grew year-on-year by 7.4%, recording the lowest rate since the first quarter of 2023.
Read more Béznar revives a tradition of almost five centuries between muskets and 62 kilos of gunpowder
Prices of brand-new housing already exceed by more than 60% those of the pre-real estate crisis highs. Supply is scarce and this causes these increases for buyers. Prices of used housing have risen, meanwhile, by 15% compared to the bubble highs.
After the pandemic, new apartments have increased in price by 70% and second-hand ones by 57%. The CPI increase has been 22%
If the range is narrowed to the minimum prices during the crisis (2012-2013), it is seen how the price of new housing has already grown by 130% since then and that of second-hand housing has doubled.
Economist Combarro has shared the data on how the increase in housing prices compares with inflation in recent years. Thus, after the pandemic, new properties have increased in price by 70% and second-hand ones by 57%. The CPI increase during these years has been 22%.
