Regional disparities in housing affordability
In Spain, the number of years required to purchase an apartment varies significantly by region. On the Balearic Islands (Islas Baleares), this figure reaches 19.4 years, the highest in the country. Meanwhile, in Murcia (Región de Murcia), Extremadura, and La Rioja, just over five years’ worth of full income is enough to become a homeowner. These figures are reported in the latest market statistics.
The national average stands at 7.6 years. This means that to buy a standard apartment, a Spaniard would need to save all income earned over that period. In Madrid and Cataluña, the situation is more challenging: it would take almost 10 and 8.5 years respectively. In the Canary Islands (Canarias), it’s 8 years. These differences highlight the uneven accessibility of housing across the country.
Price per square meter and the situation in capital cities
The price per square meter also varies by region. In Madrid, the average is €3,281 per square meter, in Barcelona (Barcelona) €3,135, and in Guipúzcoa (Guipúzcoa) €3,011. Across Spain as a whole, the average price of housing—both new and resale—reached €2,047 per square meter, up 6.9% from the previous year.
In the largest cities, the gap between incomes and housing prices becomes even more pronounced. In the capital, the price per square meter reaches €4,664; in San Sebastián €4,554; and in Barcelona €4,156. Buying an apartment in these cities requires much greater financial effort than the national average.
Financial burden on households
For many families, the initial mortgage payment becomes a serious challenge. On average in Spain, 34.8% of household income is spent on the first monthly loan payment. In certain cities such as Cádiz, Madrid, Málaga, San Sebastián, and Barcelona, this figure exceeds 50%. This highlights the significant strain on family budgets when purchasing property in these areas.
Calculation notes and recommendations
The number of years required to purchase an apartment reflects the ratio between income and market property value. Another important indicator is the share of income a family spends on the first mortgage payment if the loan covers 80% of the property’s value. Even with stable interest rates, housing affordability remains low in cities with high prices.
Experts advise closely examining housing affordability indices and analyzing the market in each specific area. Forecasts for the end of 2025 indicate a further rise in the average price to €2,084 per square meter and a record level of market confidence. This approach allows for a more accurate assessment of one’s financial capacity and helps select the most suitable area for purchase.
