Spanish Housing Market Hits New All-Time High
In September 2025, Spain experienced an unprecedented surge in real estate transactions. Nearly 64,000 sales and purchases were registered in just one month, hitting the highest September figure in the past 18 years. After a slight dip in August—when the market saw its first slowdown of the year—activity rebounded sharply. Demand for apartments and houses soared again, and the number of closed deals exceeded even the boldest forecasts from experts.
Interest in new developments climbed especially high: sales of new properties rose by more than 10% compared to the previous year. This is the best result for September since 2010. The secondary market also saw a boost—transactions there grew by 2%, pushing figures to record highs not seen in the last 18 years.
Regional Trends: Where Sales Are Rising and Falling
Real estate activity varied widely across autonomous communities. As usual, the highest number of transactions was recorded in Andalucía, with over 12,500 properties sold in a single month. Next came the Comunidad Valenciana, Catalunya, and Madrid. However, not all regions reported growth. The Balearic Islands, Asturias, La Rioja, and Madrid saw declines in the number of deals, while Valencia posted a 2% drop.
Meanwhile, Castilla-La Mancha, Navarra, and Andalucía saw double-digit growth rates. Catalunya also posted strong gains, while Galicia and Aragón experienced only marginal increases.
Structure and Prospects of Spain’s Real Estate Market
Nearly 93% of all properties sold in September were open-market homes, while protected housing accounted for less than 7%. Open-market property sales grew by almost 5%, whereas transactions involving protected housing, on the contrary, fell by nearly 7%.
In the first nine months of 2025, more than half a million apartments and houses have already been sold in Spain—14% more than in the same period last year. Experts note that despite record figures, the pace of growth is gradually slowing. A shortage of supply and high prices are starting to restrain some potential buyers, but demand remains strong. Over 700,000 properties have been sold in the country over the past year, highlighting the enduring appeal of Spain’s real estate market.
