Spain’s residential market showed renewed momentum in September 2025. According to data published by the national notaries, housing transactions reached 58,845 operations, representing a 5% year-on-year increase in a context where demand continues to demonstrate resilience despite elevated prices and the broader interest rate environment. Mortgage lending also strengthened, rising 11.4% to 29,614 loans, while the average mortgage amount grew 15.2% to €183,118. Over half of all purchases were financed through mortgages, with an average loan-to-value ratio of around 72.5%, signalling a more active and confident credit market.

Prices continued to trend upwards across much of the country. The average price reached €1,940 per square meter, marking a 6.3% annual increase, driven by particularly sharp rises in regions such as La Rioja (+32.4%), Cantabria (+22.6%), the Canary Islands (+22%), Asturias (+15.9%) and Madrid (+10.1%). Apartment prices grew 7.8% to €2,230/m², while single-family homes increased 5.4% to €1,466/m², reflecting sustained pressure on residential supply.

Transaction volumes expanded in thirteen autonomous communities, with the strongest growth observed in Castile and León, La Rioja, Murcia and Extremadura, all outperforming the national average. Meanwhile, declines in Madrid, Cantabria, the Canary Islands and Navarre show how regional differences in supply and land prices continue to shape local markets. Mortgage lending increased across all regions, with notable rises in Extremadura (+39.1%) and Aragon (+23.4%), though the average loan size varied considerably by territory.

Overall, the data points to a residential sector that remains robust, supported by steady structural demand, improving financing conditions and continued interest from investors seeking exposure to markets with solid economic fundamentals. At CG Capital Europe, we bring extensive expertise in Spain’s residential market, advising institutional investors, developers and financial institutions in sourcing, structuring and executing high-value transactions designed to capture long-term growth opportunities.

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