Spain’s property market has spent months moving in seemingly one direction: upwards. Asking prices for second-hand homes were 12.5% higher in August than a year earlier, according to the latest figures from property portal Idealista. Yet amid another striking annual rise, one figure stands out – and could signal that the relentless momentum is beginning to ease.
Spain Expat Press Editorial Team
The average asking price for a second-hand home in Spain reached €2,924 per square metre in August 2026, according to Idealista’s latest property price index.
That represents an increase of 12.5% year on year and means Spain has now recorded 20 consecutive months of double-digit annual price growth.
Yet the latest figures also contain a notable change.
Prices fell by 0.3% compared with July, bringing to an end a remarkable run of 43 consecutive months of monthly increases. According to Idealista, it is the first nationwide monthly fall since the end of 2022.
Andalusia remains particularly expensive
The picture is especially relevant in southern Spain.
In Andalusia, the average asking price reached €2,938 per square metre in August, according to Idealista – 10.9% higher than a year earlier and 0.5% above July’s level.
That put prices in the region at a new record high.
The situation is even more striking in the province of Málaga, which includes the Costa del Sol. Average asking prices there have reached €4,293 per square metre, making Málaga one of the most expensive provinces in Spain.
Only the Balearic Islands, Madrid and Guipúzcoa recorded higher average asking prices.
A deeply divided property market
Behind the national average lies a country with enormous regional differences.
While buyers in some parts of inland Spain can still find homes at prices well below the national average, property in Madrid, the Balearics and some of the most sought-after coastal areas has become considerably more expensive.
According to Idealista, asking prices increased year on year in 49 of the provinces analysed, underlining just how widespread the upward pressure has become.
Is Spain’s property boom beginning to lose momentum?
That is now the key question.
A 0.3% monthly fall is far too small – and too isolated – to declare a turning point, particularly when prices remain 12.5% higher than a year ago.
Nevertheless, after 43 consecutive months of monthly increases, August’s decline is significant enough to warrant attention.
For prospective buyers, it may offer the first tentative indication that the pace of price growth is beginning to moderate. For homeowners, meanwhile, the extraordinary increases of recent years have left property values in many parts of Spain at or close to record levels.
The next few months should provide a clearer answer.
Was August merely a brief pause in Spain’s property boom – or the first indication that one of Europe’s most closely watched housing markets is finally beginning to cool?
Source: Idealista / Idealista Data, property price index, August 2026. The figures refer to asking prices recorded by Idealista and should not be confused with final sale prices recorded in completed property transactions.
