The Housing Ministry has just released Q3 valuation figures, giving us an official read on Spanish house prices based on professional appraisals. Here’s the quick take on what the new data shows, and why it matters.
Valuations jump to a new high
Spain’s average valuation price in Q3 came in at €2,153/m², up 12% year-on-year. That’s a remarkably strong showing given the economic and political noise of the past year, and it puts official valuations well ahead of inflation.
A decade of steady upward momentum
Looking at the Ministry’s own time series, the long-term trend is clear. From a post-crisis low of €1,476/m² in 2015, valuations have climbed:
- +46% in ten years (2015 → 2025)
- +21% in five years (2020 → 2025)
The pace has picked up in recent years, with valuations accelerating since 2022 as demand continued to outstrip supply in many regions.
What explains the surge?
Tight supply across most of urban and coastal Spain, robust foreign demand, and rising construction costs all help explain why appraised values keep marching higher. Even with higher interest rates, the structural shortage of homes continues to dominate price behaviour.
The bottom line
The latest valuation release confirms what most market watchers already suspected: official prices are still rising at a healthy clip, and Spain remains on a clear long-term upward trajectory.
