The price of housing, both new and second-hand, recorded an increase of 15.5% in Spain in July compared to the same month in 2025 and 1.3% compared to June, according to the Tinsa IMIE General and Large Markets index released this Wednesday.
With this behavior, the average value of housing is placed 2% above the peaks reached during the real estate bubble of 2007 in nominal terms. However, if the accumulated inflation over nearly two decades is discounted, prices remain 32% below those peaks.
All areas analyzed by Tinsa showed year-on-year increases of over 10% in July. The "Mediterranean Coast" led the increases, with a rise of 17.9%, and, along with "Capitals and large cities," also recorded the most notable monthly advance, of 1.6%.
In contrast, the islands consolidated the signs of cooling observed in recent months. Prices barely changed compared to June, with a slight increase of 0.1%, while their year-on-year increase moderated to 16.9%, below the 18.7% recorded a month earlier.
"In July, residential prices have continued to sustain intense growth rates exceeding 10% year-on-year nominal," noted the director of the Tinsa by Accumin Research Service, Cristina Arias, who focused on the deceleration of the island territories, where both price levels and the effort required to buy housing are among the highest in the country.
Sales resist at "robust" levels
Tinsa indicates that housing sales between January and May recorded moderate year-on-year declines, in an environment marked by the increase in benchmark interest rates and the deterioration of the effort rate to access purchase.
Arias has pointed out that this dynamic is cooling the demand for mortgage financing, due to the loss of purchasing power of households due to inflation, the "intense and continued" increase in housing prices, and the higher cost of mortgages.
Despite this, the head of the Tinsa Research Service emphasizes that the number of sales and mortgages remains at "robust levels and above the historical average."
The islands, above the peaks of 2007
By territories, the islands are the area where prices have moved the most upward from the peaks of 2007 and 2008, currently standing 26% above in nominal terms.
They are followed by "Capitals and large cities," with values 4% higher than those maximums, and the "Metropolitan areas," which exceed them by 3%.
However, when adjusting for the effect of inflation, all groups remain below the levels of the real estate bubble. The islands are the ones that come closest, with prices still 13% lower in real terms, while the rest of the areas remain more than 30% away.