The price of existing homes rose 14.7% in July, setting a new record.

Housing price growth in Spain continues to skyrocket, shattering records with each passing month. This is confirmed by the home rental and sales website Idealista , which has published the latest real estate price index for our country. According to the data, the price per square meter in Spain has reached 2,471 euros , a record high and 14.7% more than the same month last year.

This figure also represents a 5.1% increase over the last three months , as well as a 1.4% change compared to the previous month. The price per square meter, therefore, reaches its all-time high since Idealista began recording.

Regarding the data broken down by autonomous community, all show higher prices than last year. The Community of Madrid leads the way in terms of increases, with prices 24.4% higher than the previous year. It is closely followed by the Region of Murcia, with a 19.3% increase, and the Community of Valencia, with an 18% increase.

The regions that have registered a below-average increase in prices are Asturias (13.5%), the Balearic Islands (13%), the Basque Country (10.8%), Catalonia (9.8%), Castilla-La Mancha (4.5%), Galicia, and Aragon (3.4%). Meanwhile, the regions with the lowest price variation are Extremadura, with 0.3%, followed by Navarre (1.4%), La Rioja (2.9%), and Castilla y León (3%).

On the other hand, the autonomous community with the highest price per square meter in the country is the Balearic Islands , with a price of €5,025 per square meter. This is followed by the Community of Madrid, with €4,359 per square meter, the Basque Country, with €3,263 per square meter, the Canary Islands (€3,090 per square meter), and Catalonia (€2,632 per square meter).

On the other side of the spectrum, the regions with the most affordable square meters are Extremadura (979 euros/m2), Castilla-La Mancha (982 euros/m2) and Castilla y León (1,233 euros/m2).

On the other hand, looking at the provincial breakdown, the largest price increase has been seen in the Community of Madrid, with a 24.4% increase in the last year. Valencia , with 20.1%, the Region of Murcia (19.3%), Santa Cruz de Tenerife (18.6%), Cantabria (17%), and Alicante (15.9%) round out the top spots.

However, Ourense (-6.9%), Teruel (-2%), Ciudad Real (-1.7%), Jaén, and Burgos (-0.8%) experienced downward trends in housing prices. At the provincial level, the Balearic Islands remain the most expensive province to purchase a used home (€5,025/m2), ahead of the Community of Madrid (€4,359/m2), Guipúzcoa (€3,990/m2), Málaga (€3,794/m2), Santa Cruz de Tenerife (€3,292/m2), Vizcaya (€3,143/m2), and Barcelona (€2,979/m2).

On the other hand, Ciudad Real (738 euros/m2), Jaén (839 euros/m2) and Cuenca (862 euros/m2) are the most affordable provinces to purchase a home.

Finally, looking at the data for the provincial capitals, the results are unequivocal: all but one saw housing prices rise. Only Girona , with a 2.6% decrease, escaped the full price spike. Santa Cruz de Tenerife (+25.1%) recorded the sharpest increase, followed by Madrid (23.7%), Santander (20%), Valencia (19.7%), Palma (18.8%), and Oviedo (17.3%).

On the other hand, Huesca (1.4%), Ourense (2%), Soria (2.3%), and Badajoz (3.7%) recorded the most moderate increases. Among the major markets, in addition to Madrid, Valencia, and Palma, prices rose in Alicante (15.9%), Seville (14.2%), Malaga (14.2%), San Sebastian (13.5%), Barcelona (10.4%), and Bilbao (9.8%).

According to data provided by Idealista, the price per square meter in Madrid has already reached 5,718 euros, while in Barcelona it stands at 4,943. San Sebastián, on the other hand, is the most expensive capital in Spain , with a price of 6,230 euros per square meter. Zamora, on the other hand, is the most affordable, with a price of 1,227 euros per square meter.