Housing prices have risen by more than 40% in Spain over the last decade, and almost double in the Balearic Islands.
The islands lead the increase, with a rise of 82.4% in ten years, according to data from the Ministry of Housing and Urban Agenda
Housing prices in Spain have increased by more than 40% in the last ten years, exceeding €2,000 per square meter. The largest increase has been recorded in the Balearic Islands, where the price has almost doubled, according to data from the Ministry of Housing and Urban Agenda. In the second quarter of 2015, the average price was €1,476/m². In the same period of 2015, it reached €2,093, an increase of €616. Approaching all-time highs
Over the last decade, prices have steadily increased. Between 2016 and 2018, the price per square meter exceeded €1,500; between 2019 and 2021, it remained above €1,600; and since 2022, it has surpassed €1,700. By 2024, it was approaching €1,900, and this year, for the first time since 2008—at the height of the real estate bubble—it has exceeded the €2,000 mark, reaching €2,093/m². Current prices are virtually identical to the historical highs of this statistical series, which began in 1995, recorded between January and March 2008 at €2,101/m².
The lack of supply in the face of growing demand continues to push prices upward and makes access to housing more difficult, especially for young people, who remain at the bottom of the European rankings in terms of leaving the parental home.
Between April and June 2025, prices were 10.4% higher than a year earlier and 41.7% higher than in 2015. Since the beginning of the year, although the pace has slowed, the cumulative increase is 9.7%.
The Balearic Islands lead the price increase
By autonomous communities, the Balearic Islands lead the way, with an 82.4% increase in a decade. In 2015, the price per square meter was €1,927, and today it exceeds €3,518, almost €1,600 more. The Balearic Islands, along with Madrid, are the only communities where the average price surpasses €3,000/m². The Community of Madrid registers the highest prices, with €3,631/m² in 2025, 75% more than the €2,078 of 2015. In the Canary Islands, the price has risen by almost 52%, or ten euros, after going from €2.20, an increase of about €680. Next is Catalonia, with a 49% increase (from €1,680 to €2,499/m²), representing an increase of approximately €820. In the Valencian Community, the price has increased by 46% in ten years (from €1,140 to €1,672/m²), another €532. In Andalusia, the rise is 43.5%, reaching €1,741/m², €528 more than in 2015.
