The price of free-market housing in Spain rose by 12.9% in the first quarter of the year compared to the same period in 2025, maintaining the same year-on-year growth recorded in the last quarter of last year, according to the Housing Price Index (IPV) published this Monday by the National Statistics Institute (INE). (On a quarterly basis: first quarter of 2026 compared to the fourth quarter of 2025, free-market housing prices rose by 3.5%).
This increase comes after second-hand housing experienced its largest surge in 19 years during the first quarter of the year, with a sharp 13.5% advance. With this first-quarter increase, free-market housing prices have now accumulated 48 consecutive quarters of year-on-year gains.
New vs. second-hand housing
According to the statistics office, the price of new housing rose by 9.1% year-on-year in the first quarter—2.1 percentage points lower than the previous quarter and its most moderate rate since the fourth quarter of 2023. Meanwhile, the price of used housing soared by 13.5%, a rate four-tenths higher than the previous quarter and the highest in the entire historical series, which began in 2007.
Breakdown by Region
The sharpest price increases occurred in:
- Aragon and Murcia: Both with a 15.6% increase.
- Castile and León and the autonomous city of Ceuta: Where prices advanced by 14.9% in both cases.
On the other hand, the most moderate increases in free-market housing prices were recorded in:
- Catalonia and Navarre: 10.5% in both cases.
- Basque Country: 10.2%.
