Spain’s real estate market is back in the spotlight for 2025. The country’s largest cities are experiencing a real frenzy: more and more people want to buy an apartment, but there simply aren’t enough listings to meet demand. As a result, property prices in these metropolitan areas keep rising, and competition among buyers is only intensifying.
Cities with highest demand
Madrid, Zaragoza, and Santa Cruz de Tenerife top the list for buyer activity, registering the highest levels of interest in purchasing apartments and houses. They are followed by Valencia, Las Palmas de Gran Canaria, Barcelona, and Seville. These seven cities form the core where housing demand far outpaces the number of available properties.
In Madrid and Barcelona, the average selling price for properties has already surpassed €600,000 and €460,000, respectively. This price trend isn’t deterring buyers—instead, it’s fueling even more interest in these areas. As a result, deals are closing ever faster, with listings vanishing from the market in a matter of days.
Second tier: Who else makes the top list
The top ten most sought-after cities also include A Coruña, Santa Coloma de Gramenet, and Gijón. In the top twenty leaders are Santander, Valladolid, Vitoria, Tarragona, Oviedo, San Sebastián, Almería, and Palma. Notably, it’s not just provincial capitals showing high demand: satellite cities of major metropolises also appear on the list, such as L’Hospitalet de Llobregat, Badalona, and Terrassa near Barcelona, as well as Gandía in Valencia and Dos Hermanas next to Seville.
The top 25 also features cities like Puerto de Santa María (Cádiz) and Reus (Tarragona). This indicates that interest in buying property extends beyond central areas and into the suburbs, where a shortage of listings is also apparent.
The most expensive destinations: where homes cost millions
Among the cities with the highest demand are those where the average property price exceeds one million euros. Leading the list is Benahavís (Málaga), with an average price of €2.4 million per property. In second place is Santa Eulària des Riu in Ibiza, where the average deal is worth €2.1 million. They are followed by Calvià (Mallorca), Marbella (Málaga), and Sotogrande (Cádiz), where prices range from €1.65 to €1.76 million.
Four cities in Alicante province—Benissa, Moraira, Benitachell, and Altea—have also crossed the one million euro mark. Jávea and Casares (Málaga) are close to this level, confirming that luxury real estate on the coast and the islands remains in high demand.
Trends and prospects
In total, 36 provincial capitals made it into the ranking, each registering over a thousand property listings in the past quarter. In these cities, the average price per square meter exceeds 1,000 euros. The current market situation suggests that the shortage of listings is likely to persist in the near future, with property prices expected to keep rising—especially in the country’s most popular tourist and business centers.
