Spanish Real Estate Statistics 2025 – Prices, Rents & Yields | Alta Moderna

Table of Contents

1. Key Takeaways
2. National Price Trends (May 2024 → May 2025)
3. Regional Leaders & Laggards
4. Rental Market Performance
5. Profitability & Gross Rental Yields
6. Demand-Side & Supply-Side Drivers
7. Outlook for H2 2025 & 2026
8. How Alta Moderna Helps Investors Win
9. Further Reading & Data Sources

1. Key Takeaways

• House prices up 9.9% YoY in May 2025 (Tinsa IMIE).
• Used-home prices hit €2,391/m² in May 2025 – a +12.8% jump from €2,120/m² in May 2024 (Idealista).
• Rental prices reached €14.5/m², up 9.9% YoY (Idealista).
• Gross rental yields averaged 7.3% nationwide in Q1 2025, peaking above 8% in Murcia and parts of Andalusia (Idealista).
• Islands (+15.5%) and major cities (+10.5%) led price growth, while the Mediterranean Coast logged +9.6% (Tinsa).

Bottom line: Spain’s housing market accelerated sharply over the last 12 months, delivering double-digit capital gains and inflation-beating rental returns.

2. National Price Trends (May 2024 → May 2025)

After a moderated 2023, 2024–25 saw demand rebound as mortgage rates fell and foreign capital returned, tightening the already scarce supply. The national average apartment (90 m²) now costs €215k, up from €190k a year earlier.

Why the Acceleration?

1. ECB rate cuts sliced average mortgage rates from 4.1% to 3.2% within six months.
2. 46% drop in new-build completions versus 2019 leaves a structural deficit of ~500k units (INE construction data).
3. Resilient employment & wages: unemployment fell to 11.7%, the lowest since 2008.

3. Regional Leaders & Laggards

4. Rental Market Performance

• National median rent: €14.5/m² (Idealista, May 2025).
• Annual change: +9.9%.
• Supply crunch: Listings down 16% YoY.

High-Demand Hubs

Legislative note: From January 2025, rent renewals are indexed to the new IRAV instead of CPI. So far, data shows negligible cooling.

5. Profitability & Gross Rental Yields

• Spain (avg): 7.3% gross yield (Idealista Q1 2025).
• Top provincial capitals: Murcia (8.2%), Lleida (7.7%), Jaén (7.5%).
• Madrid: 5.1% • Barcelona: 5.6% • Costa del Sol: 6.3–7.0%.

Investor tip: Pairing mid-term furnished lets (3–11 months) with professional management can lift net yields by 0.8–1.2 pp vs. traditional long-lets.

6. Demand-Side & Supply-Side Drivers

Demand

• Foreign buyers: 14% of all purchases in Q1 2025.
• Golden Visa rush: Applications up 21% ahead of program sunset.
• Migration & remote work: 10,500 digital-nomad visas issued by May 2025; 28% chose Andalusia.

Supply

• Scarce new construction: ~100k completions vs. 400k peak cycle.
• Touristic conversions: 45% of new rentals in Barcelona now seasonal (Banco de España 2025).

7. Outlook for H2 2025 & 2026

CaixaBank Research predicts moderated growth in 2026, but continued rental strength due to chronic undersupply.

8. How Alta Moderna Helps Investors Win

• Tailored sourcing: Access exclusive off-plan deals in Marbella, Estepona & Mijas
• 95%+ occupancy property management

Want personalised projections? Contact our investment team for a free rental-yield model based on your budget.

9. Further Reading & Data Sources

Internal Links

• Property Management in Costa del Sol
• Top New Developments in Costa del Sol
• Passive Income by Investing in Spanish Real Estate

External Data Sources

• Instituto Nacional de Estadística (INE)
• Tinsa IMIE Monthly Reports
• Idealista Research
• Fotocasa Research
• Banco de España

Prepared by the Alta Moderna® Research Desk, June 2025