The Spanish Property Market in Q2 2026: Record Prices, Calmer Demand 📈

Spain's property market has just set another record, and quietly shown its first signs of a pause. The Q2 2026 report from the Colegio de Registradores captures both.

🏡 How high have prices climbed?

The repeat-sales index, which tracks the same homes over time, rose 3.14% in the quarter and 16.7% over the year. It now stands 39.31% above its 2007 peak and 127.68% above the late-2014 low, extending eleven and a half years of consecutive growth. Annual growth has run at double digits for eight quarters in a row.

💶 The simple average price reached €2,487 per m², up 9.2% year on year.

📍 The most expensive regions:

• Madrid (€4,477)
• 🌴 Balearic Islands (€4,311)
• 🏙️ Basque Country (€3,616)

Used homes, which the registrars see as the best barometer of recent agreements, rose 3.5% on the quarter to €2,448 per m², while new homes dipped 0.7% to €2,636.

📊 Colegio de Registradores, Estadística Registral Inmobiliaria Q2 2026 · IPVVR, average of four methods; 2007 peak level implied by the report's +39.31% figure.

📉 Is demand slowing?

Gently.

Registered sales fell 5.7% in the quarter to 167,934, the lowest in seven quarters, and 2.3% below a year earlier.

📊 Twelve-month sales slipped under 700,000, to 698,684, from 701,828 after Q1.

🏠 Used homes made up 79.21% of the quarter's sales; new-build sales fell 11.5%.

🔮 What could happen next?

The registrars link the softening to price growth that is now outpacing demand, and to mortgage rates that rose for a second quarter running, to 3.03%.

Their own conclusion is that demand isn't insensitive to price. The next quarterly report will show whether the pause deepens or fades.

💡 What does this mean for buyers and sellers?

For anyone planning a purchase or a sale, the lesson is balance: prices remain firm, but buyers have more time to choose well.

📖 Our Real Estate Trends articles follow each release, and our piece on Sotogrande's investment advantage puts the numbers in a local context.

🏡 Thinking of selling?

📩 Request a property valuation from our local specialists.