IMIE: Residential Report Q3 2026

Oct 26, 2026

In the third quarter of the year, Spanish house prices continued to rise strongly, although the pace of growth is beginning to slow.

The median value of completed housing (new and resale) rose by 14.7% year-on-year and 2.8% quarter-on-quarter, reaching €2,129/m².
In nominal terms, prices now stand 2% above their 2007 peak. Adjusted for inflation, they remain 32% below that peak and 38% above the lows of the Great Recession.
Price rises remain widespread: 14 of the 19 autonomous communities and cities recorded growth above 10%. The Valencian Community (+21.9%), Castilla-La Mancha (+20.5%), Cantabria (+18.7%) and the Basque Country (+15.2%) led the way.
Demand is moderating: housing transactions fell in the first half of the year, although they remain above the historical average. Supply is showing signs of recovery but is still insufficient to meet the population’s needs.
Affordability continues to deteriorate. Mortgage payments now absorb 36.9% of household disposable income on average (up from 35.7% in the previous quarter), and more than 50% in Madrid, Barcelona, Málaga and the Balearic Islands.