The price of new and used housing in Spain rose by 0.7% in September, but the year-on-year increase moderated to 14.2%. This is the third consecutive decrease in that rate.
According to Finect, the price of new and used housing in Spain rose by 0.7% in September compared to August, when it had remained at 0%. However, the annual rate fell to 14.2%, seven tenths lower than in August, according to the IMIE General and Large Markets index by Tinsa.
This is the third consecutive moderation of the year-on-year rate. It peaked in June at 15.6%, then decreased to 15.5% in July and 14.9% in August. The current pace is the lowest since December 2025, when it was 13.9%.
The margin against inflation is also narrowing. The consumer price index (CPI) rose to 4.9% in September, compared to 4.3% in August. Therefore, housing is now becoming more expensive 9.3 points above general prices, whereas a month ago the difference was 10.6 points.
By region, the Mediterranean coast leads the annual ranking with 17.2%, followed by the belts of major cities at 16.6%. The archipelagos rose by 15.2%, provincial capitals by 13.4%, and small and inland municipalities by 10.4%.
In the month, Balearic Islands and Canary Islands recorded the largest increase at 2.2%, following the largest drop in August (-0.9%). The Levantine coast rose by 1.3%, small municipalities by 0.7%, the periphery of major cities by 0.5%, and main urban centres by 0.4%. Capitals saw the smallest increases, both monthly and annually.
The general index stands at 2,395 points, 2.5% above the nominal peak of the real estate boom, compared to 1.8% in August. Since the lows following the crisis, it has accumulated a revaluation of 81.5%. The insular territory has already surpassed its previous peak by 27.8%. When accounting for inflation accumulated since 2007, the real price remains clearly below that reference.
The euribor closed September at 3.247%, almost three-tenths higher than in August (2.954%) and more than a point above the 2.172% of September 2025. For an average variable mortgage of 175,000 euros over 30 years, this means about 99 euros more per month in the next annual review, around 1,190 euros a year.
Activity confirms the cooling. Home sales fell by 5.1% year-on-year in July, to 61,417 transactions, and the year-to-date total stands at -3.0%. Mortgages on homes fell by 3.5% in July, to 43,372 loans, although the cumulative from January to July remains positive (+5.4%).
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