The price of second-hand housing for sale has reached new highs again in November, with an increase of 1.4% compared to October and 18.8% compared to the same month last year, representing the highest year-on-year increase in the last 20 years, according to the Fotocasa Real Estate Index.
The average price of homes offered in November reached €2,828 per square meter ($2,828/m²). According to Fotocasa, the average value of a home is €226,208, compared to €190,382 in November 2024. According to María Matos, Director of Studies and spokesperson for Fotocasa, housing prices are growing at an “unprecedented” rate, driven by “a structural imbalance between supply and demand,” since demand is four times greater than supply.
Matos added that “although prices nationally are still slightly below the 2007 peak (-4.2%), in the most dynamic cities, that ceiling has clearly been surpassed,” which reflects “supply that is unable to absorb the strong pace of household creation” and, at the same time, “improved mortgage conditions are boosting the strengthening of demand.”
By region, housing sale prices have increased compared to a year ago in all 17 autonomous communities, with rises exceeding 10% in the Region of Murcia (24.4%), Valencian Community (23.5%), Asturias (23.4%), Andalusia (20.7%), Canary Islands (20.2%), Cantabria (18.6%), Madrid (14.9%), Balearic Islands (14.8%), Catalonia (14.3%), Basque Country (12.0%), and Galicia (11.4%), followed by La Rioja (8.6%), Castile and León (7.9%), Aragon (6.3%), Castile-La Mancha (5.9%), Navarre (4.5%), and Extremadura (4.0%).
The highest price per square meter is found in Balearic Islands (€5,206) and Madrid, which for the first time exceeds €5,000, specifically, €5,059 per square meter. This is followed by Andalusia with €2,713, Valencian Community with €2,553, Cantabria with €2,461, Asturias with €2,224, Navarre with €2,185, Galicia with €2,107, Aragon with €1,850, Region of Murcia with €1,830, La Rioja with €1,799, Castile and León with €1,651, Castile-La Mancha with €1,300, and Extremadura with €1,295.
