By the end of 2025, the Spanish real estate market has demonstrated the best performance since pre-crisis 2008. According to the Board of Registrars, sales exceeded 705,000 objects, which is 10.4% more than a year earlier. Experts record historical highs in prices and record demand from foreign buyers, although their share in the structure of transactions has slightly decreased.
Sales to foreigners
In 2025, foreign buyers set a new record by purchasing almost 97,300 properties. This is 5% more than a year earlier (93,000 transactions).The share of foreigners in total sales was 13.8%. This is a slight decrease compared to 2024 (14.6%) and 2023 (15%), but in absolute terms, demand continues to break records.
Geography of buyers (according to the data of the 4th quarter of 2025):
- Great Britain - 8,57%
- Germany - 6.67%
- Netherlands - 5,91%
- Morocco - 5,30%
- France - 5,28%
The regions are leaders in the share of transactions with foreigners:
- Balearic Islands - 32.8%
- The Valencian community is 29.6%
- Canary Islands - 24.5%
- Murcia - 22.8%
- Catalonia - 16.5%
- Andalusia - 14%
Provinces with the highest activity of non-residents:
- Alicante - 45.7% (almost every second transaction)
- Balearic Islands - 32.8%
- Malaga - 32.3%
- Santa Cruz de Tenerife - 30.7%
- Girona - 28.9%
Price dynamics
The rise in house prices in Spain does not stop. In 2025, the average cost per square meter reached 2354 euros, which is 9.5% higher than in 2024.
The most expensive apartments and houses in autonomous communities:
- Madrid - 4241 euros per sq. m
- Balearic Islands - 4101 euros per sq. m
- Basque Country - 3489 euros per sq. m
- Catalonia - 2779 euros per sq. m
The most expensive provinces in terms of buying a home:
- Madrid and the Balearic Islands (same indicators)
- Gipuzkoa - 3981 euros per sq. m
- Biscay - 3389 euros per square meter
- Malaga - 3232 euros per sq. m
The highest prices in the provincial capitals:
- San Sebastian - 6107 euros per sq. m
- Madrid - 5283 euros per sq. m
- Barcelona - 4800 euros per sq. m
- Palm tree - 4086 euros per sq. m
- Bilbao - 3516 euros per square meter
Analyzing the long-term upward trend, the experts of the College of Registrars note the uniqueness of the current cycle. The market has gone through a pandemic, negative and sharply increased rates, but prices have not gone down. The reasons for this are population growth, supply shortages, low interest rates, and active mortgage lending (over 70% of transactions involve mortgages).
"It is obvious that such a situation cannot persist indefinitely," the registrars emphasize. "Further price increases will inevitably lead to a cooling of market activity."
Source: Idealista
