Existing-home prices are 74.4% higher than in 2018, and rents 45.2% higher

Buying and renting, well above 2018 levels

The Spanish residential market is heading into the general election on November 29, 2026 with asking prices far higher than eight years ago and fewer homes available, according to an analysis by Idealista. In September, existing homes advertised for sale reached an average of 2,930 euros per square metre: 74.4% more than in June 2018 and 11.8% above September of the previous year.

September’s figure was close to the cited series high, reached in July, when the price hit 2,933 euros per square metre. The trend is also visible in rents: the average stood at 15.1 euros per square metre per month, 45.2% more than in June 2018. Although September’s figure was 0.4% lower than in the previous quarter, it remained close to the July high of 15.3 euros per square metre per month.

These figures describe asking prices, not necessarily the final amounts paid in home sales or rental agreements. Nor do they, on their own, reflect how much each household pays: national averages conceal differences between cities and homes.

Fewer listings and greater search pressure

The supply of homes advertised for sale in Spain fell by more than 38% between the second quarter of 2018 and the same period in 2026, according to Idealista. The declines were particularly sharp in A Coruña, Bilbao and Vitoria. Zaragoza recorded a 60% drop, while Madrid saw a decline of 16%.

At the same time, relative demand for homes to buy—measured by the contacts generated by listings, according to the coverage of Idealista’s data—increased by more than 300% nationwide between June 2018 and June 2026. In Zaragoza, the supply of homes for sale fell by 60%; in Málaga, relative demand grew by 152%, and in Madrid by 84%.

The rental market is also experiencing strong search pressure. Idealista puts the increase in national relative demand at fivefold between the second quarter of 2018 and the same period in 2026. In Zaragoza, Aragón Digital’s coverage puts the increase in that demand at tenfold. As for rental supply, Idealista reports steep declines in several cities: Barcelona saw a cumulative drop of 84%, San Sebastián 76% and Bilbao 72% over the period compared.

Differences between cities and political debate

Price increases have not been uniform. For homes for sale, Idealista puts the cumulative increase in Madrid since June 2018 at 79%; in Valencia, prices more than doubled, while Málaga, Palma and Alicante came close to increases of 100%. Cumulative rent increases also vary: they were 52% in Madrid and 22% in Barcelona, according to the analysis.

The data were published during a campaign in which housing has featured prominently in the political debate. Europa Press reported that on October 2 the Congress rejected two government decrees that included measures on evictions, seasonal and room rentals, contract extensions, and the taxation of vacant homes and second residences. The overlap between this debate and price trends does not show that any specific measure caused the increases or the reduction in supply: Idealista’s figures describe market changes, but do not, on their own, establish their causes.

For businesses, the combination of higher prices and lower availability may be relevant when assessing workforce mobility and the ability to attract staff to different locations. However, national averages alone do not make it possible to estimate a company’s or its employees’ housing costs: the city, type of property and specific market all matter.