Costa Blanca is feeling the impact of growing demand, while property prices across Spain continue to rise.
According to the latest data from Idealista, the average price of homes in Spain increased by 17.7% year-on-year in February, reaching €2,673 per m².
The figures also show prices rising 2.6% in the last three months and 0.9% compared with the previous month, marking the highest price ever recorded for used homes in Spain since Idealista began tracking the market.
Valencian Community continues to rise
Across Spain, all regions recorded higher property prices compared with a year ago.
The Region of Murcia saw the biggest increase at 23.3%, followed by Andalusia (+20.2%), Asturias (+18.5%) and Cantabria (+17.8%).
The Valencian Community recorded a rise of 16.7%, slightly below the national average but still showing strong growth in the housing market.
Other increases included:
- Community of Madrid: +17.5%
- Catalonia: +13.6%
- Aragon: +13.4%
- Basque Country: +12.4%
- Navarre: +12%
- Castilla-La Mancha: +11.9%
- Canary Islands: +10.6%
Meanwhile, the smallest increases were recorded in Galicia (+7.4%) and La Rioja (+7.9%).
When it comes to prices, the Balearic Islands remain the most expensive region, with an average of €5,228 per m², followed by the Community of Madrid (€4,640 per m²).
At the other end of the scale, the cheapest regions are Extremadura (€1,042 per m²) and Castilla-La Mancha (€1,055 per m²).
Valencia province leads the price increases
Looking at provinces, prices rose in 48 out of Spain’s 50 provinces over the past year. The only exceptions were Ourense (-4%) and Soria (-0.6%).
The biggest increases were recorded in:
- Valencia: +25.3%
- Murcia: +25.3%
- Toledo: +19.3%
- Almería: +19%
- Asturias: +18.5%
Meanwhile, prices rose 17.5% in Madrid province and 12.8% in Barcelona province.
The most expensive provinces remain the Balearic Islands (€5,228 per m²) and Madrid (€4,640 per m²), followed by Guipúzcoa (€4,280 per m²) and Málaga (€4,107 per m²).
By contrast, the most affordable provinces are Ciudad Real (€785 per m²), Cuenca (€859 per m²) and Jaén (€868 per m²).
Alicante among Spain’s major property markets
Among Spain’s major cities, property prices also continue to rise.
In Alicante, the price of homes increased 9.9% over the last year, reflecting the continued popularity of the Costa Blanca among both local buyers and international residents.
Other major cities also saw significant growth:
- Valencia: +15.5%
- Madrid: +12.9%
- Málaga: +11.1%
- Palma: +10.4%
- San Sebastián: +10.4%
- Bilbao: +9.8%
- Seville: +9.8%
- Barcelona: +8.3%
Despite these increases, the most expensive city in Spain remains San Sebastián, where prices reach €6,487 per m².
In contrast, the most affordable capital is Zamora, with an average price of €1,335 per m².
