The price of used housing in Spain has soared by 17.7% year-on-year in February, reaching an average of €2,673 per square metre, according to the latest property price index from Idealista.

The figure marks:

• A 2.6% increase over the past three months
• A 0.9% rise compared to January
• The highest recorded price for second-hand housing since Idealista began tracking data

The data confirms that Spain’s property market remains firmly in boom territory, with double-digit growth across much of the country.

Double-digit rises in 12 regions

All autonomous communities recorded annual price increases.

The sharpest rises were seen in:

• Murcia: +23.3%
• Andalucia: +20.2%
• Asturias: +18.5%
• Cantabria: +17.8%

Below the national average but still showing strong growth were:

• Madrid region: +17.5%
• Valencian Community: +16.7%
• Catalonia: +13.6%
• Aragon: +13.4%
• Basque Country: +12.4%
• Navarra: +12%
• Castilla-La Mancha: +11.9%
• Canaries: +10.6%

The slowest growth was recorded in:

• Baleares: +9.2%
• Extremadura: +8.6%
• Castilla y Leon: +8.6%
• La Rioja: +7.9%
• Galicia: +7.4%

The most expensive regions

Baleares remains Spain’s most expensive region at €5,228/m2, followed by:

• Madrid: €4,640/m2
• Basque Country: €3,476/m2
• Canaries: €3,231/m2
• Andalucia: €2,817/m2
• Catalonia: €2,784/m2

At the other end of the scale, the cheapest regions are:

• Extremadura: €1,042/m2
• Castilla-La Mancha: €1,055/m2
• Castilla y Leon: €1,298/m2

Provincial hotspots: Valencia and Murcia lead the surge

Out of Spain’s 50 provinces, 48 recorded price increases over the past year.

The biggest annual jumps were in:

• Valencia province: +25.3%
• Murcia province: +25.3%
• Toledo: +19.3%
• Almeria: +19%
• Asturias: +18.5%

Madrid province rose by 17.5%, while Barcelona province climbed 12.8%.

The most expensive provinces are:

• Baleares: €5,228/m2
• Madrid: €4,640/m2
• Guipuzcoa: €4,280/m2
• Malaga: €4,107/m2
• Santa Cruz de Tenerife: €3,396/m2

The cheapest province is Ciudad Real (€785/m2), followed by Cuenca (€859/m2) and Jaen (€868/m2).

Capital cities also on the rise

All provincial capitals analysed saw price increases.

The biggest annual jumps were recorded in:

• Leon: +23.1%
• Murcia city: +20.1%
• Santa Cruz de Tenerife: +20%
• Ciudad Real: +19.9%
• Avila: +18.4%

Among Spain’s largest housing markets:

• Valencia: +15.5%
• Madrid: +12.9%
• Malaga: +11.1%
• Palma: +10.4%
• San Sebastián: +10.4%
• Barcelona: +8.3%

Madrid city now stands at €5,914/m2, while Barcelona has reached €5,144/m2.

The most expensive capital remains San Sebastian (€6,487/m2). The cheapest is Zamora (€1,335/m2).

Why are prices still climbing?

Idealista’s index is based on asking prices per constructed square metre, using the median value of valid listings and filtering out atypical or duplicate properties.

The sustained growth reflects:

• Strong demand in coastal and major urban areas
• Limited supply
• Continued interest from both domestic and international buyers
• Inflationary pressure on construction and replacement costs

With prices now at historic highs, the data suggests Spain’s housing market remains overheated, especially in key Mediterranean and metropolitan hotspots.