What Goes Up…
Spain’s property market showed signs of cooling in May 2025, with sales dropping 2.0% compared to the same month last year. The country recorded 62,587 property transactions during the month, according to Spain’s Notaries.
This marks the first monthly decline since March 2024, indicating that the Spanish real estate market may be entering a cooler phase after more than a year of growth.
In Coastal areas as well as the islands, these drops were slightly higher, with the Balearic Islands seeing a 12% drop.
Sales*
- Balearic Islands -12% year-on-year
- Andalucía -6.5%
- Canaries -4.6%
- Valencian Community -4.9%
- Murcia -3.5%
Meanwhile the average price per square meter was 1,836 €/m², showing a year-over-year increase of 6.7%. Regionally, while Andalucía’s property price increase was only 1.5%, the region of Murcia saw a massive 37% increase, the biggest in Spain. The Basque Country was the only region to see prices drop (-15.7%).
Prices
- Balearic Islands +3% year-on-year
- Andalucía +1.5%
- Canaries +13.8%
- Valencian Community +6.6%
- Murcia +37%
During the period, mortgage loans for home purchases increased by 7.4%
Related:
Property Sales Trends (2007-2025)
Andalucia: January 2007 to May 2025
*completions – new developments are only registered upon completion, whereas the market counts them as sales upon reservation.
