Overall, the price of unsubsidized housing (vivienda libre) in Spain soared by an average of 12.7% last year—4.3 percentage points higher than the increase recorded in 2024 and its largest spike since 2007, when it rose by 9.8%, according to the Housing Price Index.
With the 2025 increase, housing prices have now seen 12 consecutive years of growth. The 2025 figure is the highest in the INE (National Statistics Institute) series, which began in 2007, and more than tripled the 4% growth experienced in 2023.
Breakout by Housing Type
By type of property, the price of new housing rose by an average of 11.3% in 2025. This was also its highest increase since 2007 (when it rose 11.9%) and was four-tenths of a percentage point higher than the 2024 rate. This marks 12 years of consecutive price hikes for new builds.
Meanwhile, the price of secondary (used) housing skyrocketed by 12.9% in 2025 (note: original text said 2024, likely meaning 2025 in context), also its largest jump since 2007, when it grew by 8.2%. This surge, which exceeds the 2024 increase by nearly five percentage points, also marks 12 years of rising prices for used homes.
Regional Breakdown: New Housing
According to price statistics published this week by the INE, the Balearic Islands led the increases in new housing in 2025, with an average rise of 13.4% compared to 2024.
They were followed by Castile and León (+13.3%), Andalusia (+12.9%), Castile-La Mancha (+12.8%), Extremadura and Madrid (+12.2% in both cases), Murcia (+11.9%), La Rioja (+11.5%), the Canary Islands (+11.3%), the Basque Country (+11.1%), Asturias (+10.5%), Galicia (+10.4%), and Navarre and Catalonia, both with an average increase of 10.3%.
Below double digits, with the lowest rises in the price of new-build open-market housing, were Cantabria (+7.3%), the Valencian Community (+9.3%), and Aragon (+9.8%).
In the case of second-hand open-market housing, all regions saw average prices rise at double-digit rates. The most pronounced increases were in Aragon (+15%), Murcia (+14.7%), La Rioja (+14.6%), Castile and León (+14.1%), Asturias (+14%), and the Valencian Community and Madrid, both with rises of 13.6%.
These were followed by Galicia (+13.3%), Andalusia (+13.1%), the Basque Country and Cantabria (+12.5% in both cases), Extremadura (+12.3%), Navarre (+12.1%), the Canary Islands (+11.9%), the Balearic Islands (+11.8%), Catalonia (+11.5%), and Castile-La Mancha, which closed the table with an 11.3% increase.
Despite the spike in prices, home sales in 2025 recorded an 11.5% increase—the largest rise since 2022—reaching a total of 714,237 transactions, the highest figure in 18 years.
Home sales had not exceeded 700,000 transactions since 2007, when more than 775,000 sales were completed.
