The price of housing in Spain reaches historical highs despite the drop in sales

Although the real estate market shows a slight slowdown this year in the sale and purchase of homes compared to 2025, prices continue to reach maximum levels. Between January and June, 7.7% fewer transactions were closed than in the same period of the previous year, according to data from the General Council of Notaries, which is equivalent to nearly 30,000 fewer transactions. Despite this, the average price per square meter in Spain exceeded 2,100 euros in June, an unprecedented level in the notarial historical series that began in 2007, in a context marked by the shortage of available housing and a still very solid demand.

The lack of residential supply continues to put pressure on prices and forces a good part of those looking for housing to assume amounts at historic highs. The June figure consolidates a streak of five consecutive months of rising prices, after the only decrease in final prices recorded by the Notaries was recorded between January and February. The square meter thus stood at 2,114 euros in the sixth month, well above the 1,943 euros a year before, which represents an increase of 8.8% in one year.

Beyond the national average, the record of operations of the General Council of Notaries reflects much more intense pressure in those territories where population concentration is putting greater strain on the market. In June, the Community of Madrid once again ranked as the region with the highest prices, with an average value of 4,104 euros per square meter. They were followed by the Balearic Islands, with 4,056 euros, and the Basque Country, with 3,217 euros. They are markets that, for years, have concentrated part of the greatest residential demand in the country and where the difficulties in increasing supply are contributing to sustaining prices at historically high levels.

However, the largest year-on-year increases did not occur in these territories. Comparing the prices recorded in June of this year with those of the same month in 2025, Cantabria led the increases, with an increase of 41.6%; followed by Murcia, where the amounts increased by 22.1%, and the Valencian Community, with an increase of 21%. These increases reflect how market tensions are also spreading to regions that, until relatively recently, maintained more contained prices.

At the opposite extreme were the communities with the most affordable prices. Extremadura registered an average value of 768 euros per square meter, while Castilla y León remained at 899 euros and Castilla-La Mancha at 1,046. Even so, market behavior was not homogeneous. In fact, the Balearic Islands, as a result of the tension, experienced a slight correction of 2% in the year-on-year rate, an evolution that points to a certain stabilization after years of intense increases. Navarra also registered a decline in prices, although much more moderate, of 0.4%. They were the only exceptions in a generalized context of rising prices that continues to affect most of the national territory.