Housing Price Escalation in Madrid Approaches 20% in the Last Year - IMIE Local Markets Q3 20

» New and resale housing in Spain increased by 11.7% year-on-year in the third quarter and 3% quarter-on-quarter.

» Madrid approaches 20% year-on-year growth and surpasses San Sebastián as the capital with the most expensive €/m2: €4,664/m2 compared to €4,554/m2 in the Basque city.

» Up to 13 provinces (9 in the second quarter) registered double-digit annual increases, located in Madrid and bordering provinces, the Mediterranean Coast, the North, and the Islands.

The combination of robust demand at post-bubble highs and insufficient supply consolidated the upward cycle of the residential market in Spain during the third quarter. The Tinsa IMIE Local Markets Q3 2025 statistics, published today, show that the average value of new and resale housing increased by 11.7% year-on-year in the third quarter in nominal terms (+8.6% in real terms, discounting the effect of inflation), which represents an acceleration compared to the previous quarter.

This price increase is widespread throughout Spanish territory, although it manifests with greater intensity in the main employment centers and tourist areas. The performance recorded in the Community of Madrid stands out, where housing is approaching 20% growth in the last year, both in the capital and throughout the region.

"Demand levels close to post-bubble highs and price pressures due to supply imbalances are increasing resale housing turnover and feeding some speculative dynamics that are not yet widespread," explains Cristina Arias, Director of the Research Department at Tinsa by Accumin.


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