Spain's house prices are rising at more than twice the EU pace

In the first quarter of 2026, house prices in Spain were 12.8% higher than a year earlier. Across the European Union, the increase was 5.1%. Spain's quarterly rise was also faster: 3.5% from Q4 2025, against 1.2% for the EU. 1

That puts Spain's annual pace at roughly two and a half times the EU average. The comparison is even clearer when set beside the fastest and slowest national markets in the same table:

Spain's national index adds an unexpected detail. Used-home prices rose 13.5% year on year, compared with 9.1% for new homes. Both categories increased by 3.5% between the fourth quarter of 2025 and the first quarter of 2026. 2

So the annual surge is not being driven by new construction alone. The larger increase is in the homes that have already passed through the market before, even though the two categories moved at the same pace in the latest quarter.

The rise was broad geographically. INE reported positive annual rates in every autonomous community and autonomous city in the first quarter. Aragón and the Region of Murcia recorded the highest increases, both at 15.6%. The Basque Country had the lowest, at 10.3%, while Catalonia and Navarre were at 10.5%. 2

The difference between the highest and lowest reported rates was 5.3 percentage points. That is a narrower spread than the gap between Spain's overall rate and the EU average.

Eurostat's House Price Index covers residential properties purchased by households, including new and existing homes. The figures are not seasonally adjusted. 1

That means the headline describes the prices of completed household purchases, not every asking price on a listing website. It also does not measure rents, mortgage costs or whether household incomes kept up. For a buyer, affordability is the next question, and this index cannot answer it on its own.