The Spanish real estate market continues its upward trend, although the pace of growth is beginning to moderate. According to the latest data from Spain’s National Statistics Institute (INE), free-market housing prices increased by 12.2% year-on-year in the second quarter of 2026.
Although this is still a very significant increase, it represents the most moderate growth rate since the first quarter of 2025. Housing prices have now recorded 49 consecutive quarters of growth, equivalent to more than 12 years of continuous increases.
Resale properties continue to lead price growth
Performance continues to vary depending on the type of property. New-build housing prices increased by 7.4% year-on-year, recording their most moderate growth since early 2023.
Meanwhile, resale property prices rose by 12.9%, although growth also slowed slightly compared with the previous quarter.
On a quarterly basis, between April and June, free-market housing prices increased by 3.4% compared with the first quarter of the year.
Catalonia continues to grow, but at one of the more moderate rates
All of Spain’s autonomous communities recorded year-on-year increases in housing prices. The strongest rises were recorded in Ceuta (+15.2%), Asturias (+15%), Castilla y León (+14.8%) and Aragón (+14.6%).
At the other end of the scale were Navarra (+9.5%), the Basque Country (+10%), Catalonia (+10.1%) and the Canary Islands (+11%).
The Catalan figure is particularly relevant for those following the residential property market in our area. Although prices continue to rise, Catalonia is among the regions experiencing a more moderate increase.
What does this mean for buyers and property owners?
The figures point to a market that is not falling in price, but is simply seeing a slight slowdown in the pace of growth.
For buyers, this means that waiting for a widespread decline in property prices does not currently appear to be a strategy supported by the data.
For property owners, the outlook remains favourable, although setting realistic asking prices tailored to each location and type of property is becoming increasingly important.
In areas with particularly strong demand, such as many coastal markets, price trends can vary considerably between municipalities, neighbourhoods and individual property characteristics.
In short, Spain’s residential property market remains strong, but is beginning to show some signs of moderation. The coming quarters will be crucial in determining whether this is simply a temporary slowdown or the beginning of a more balanced period of growth.
News article from https://www.idealista.com/