Lorraine Williamson
The latest official figures show prices have now risen for 45 consecutive quarters, with annual growth remaining above 12% for the sixth quarter in succession.
The figures, released on Monday 7 September, provide fresh evidence of the continuing pressure on Spain’s housing market as buyers face rising prices across both new and existing homes.
According to Spain’s National Statistics Institute (INE), the annual increase in the Housing Price Index stood at 12.2% between April and June 2026.
Spain property prices continue to climb
The latest increase extends a run stretching back more than a decade.
Spain has now recorded 45 consecutive quarters of annual house-price growth, while the past six quarters have all registered increases of more than 12%.
The figures cover both new-build and second-hand properties, offering one of the clearest official measures of how quickly residential property prices are changing across Spain.
The continued rise comes despite affordability becoming an increasingly prominent issue for households, particularly in major cities, coastal areas and locations with strong demand from international buyers.
Why are house prices rising in Spain?
Spain’s housing market has been characterised by strong demand alongside limited supply in many of the country’s most sought-after locations.
The shortage is particularly visible in large urban centres and popular coastal areas, where demand for permanent homes competes with second residences, international buyers and investment properties.
New housing construction has also struggled to keep pace with household formation and demand in some parts of the country.
That imbalance has contributed to rising purchase prices as well as pressure on Spain’s rental market.
Housing remains one of Spain’s biggest challenges
The property figures arrive as access to affordable housing continues to dominate political and economic debate in Spain.
For existing homeowners, sustained price growth can mean an increase in the value of their property. For people trying to enter the market, however, rapidly rising prices can make saving for a deposit and securing an affordable mortgage considerably more difficult.
The effects also vary sharply by location. Spain does not have a single property market, and prices in areas experiencing strong population or international demand can behave very differently from those in less sought-after parts of the country.
For foreign residents and people considering buying a home in Spain, the latest figures underline the importance of looking beyond national averages when comparing locations.
What happens next?
The question now is whether Spain’s property market can maintain double-digit annual price growth as 2026 progresses.
Housing supply, mortgage costs, employment, population growth and demand from both domestic and overseas purchasers will all influence what happens next.
For the moment, however, the latest official figures show little sign that Spain’s long-running rise in house prices has come to an end.
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