Spain is selling six houses a minute – one in three in cash – despite prices soaring by double digits

According to the figures compiled by Spain’s registrars, a boom in house prices has not deterred buyers.

Six properties are bought every minute, a third of which is in cash. This despite the fact that prices have risen by 10% on average across the country.

With 705,357 sales, the number of transactions reached levels not seen since 2008 after the burst of the housing bubble. This is 10.7% higher than 2024.

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Last year’s prices saw an average increase of 9.5% compared to 2024 with a home costing an average of just over €171,000.

The number of new mortgages approved was 505,741, but it is still far below the historical high in 2006 when 1.3 millions were registered.

The College of Registrars reports that 28,3% of all sales in 2025 will be paid entirely by cash.

The registrars attribute the high prices to the lack of supply (which accounts for 13,5% of all purchases), the strong foreign demand (which is already responsible for 13%) and a demographic that is active in creating new households.

They also add that the stabilisation in interest rates, at around 2.97%, has given psychological comfort to buyers. Most (63.95%), have fixed rate mortgages.

The latest Registrars report, published on Thursday, looked at the fourth-quarter of 2025. It concluded that house prices are 29.3% higher than the 2007 peaks.

Second-hand housing continues to be a major driver in the property market.

The average price in Spain has been consolidated at €2,354/m², a record high, but with drastic regional variations.

The Madrid region leads the ranking of prices with €4,241/m², followed closely by the Balearic Islands, with €4,101/m².

Split into capitals, San Sebastian (€6,107/m²), Madrid (€5,283/m²) and Barcelona (€4,800/m²) are the most expensive cities in the country.

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