Spanish house sales fell by 5.7% in the second quarter compared with the first three months of the year, totalling 167,934 transactions. This marks two consecutive quarters of decline and the lowest figure in the last seven quarters, according to the Property Registry Statistics from the Association of Land Registrars.
Compared with the second quarter of 2025, house sales fell by 2.3 per cent. By property type, sales of new homes fell by 11.5 per cent quarter-on-quarter to 34,919 transactions, whilst sales of second-hand homes fell by 4 per cent to 133,015.
In total, fifteen autonomous communities and 34 provinces recorded quarterly declines. Meanwhile, foreign demand for housing increased both in percentage terms and in absolute figures during the second quarter. Specifically, purchases made by foreigners accounted for 15.98 per cent of the total – an all-time high – with just over 26,800 transactions.
Of the total foreign purchases, 57.39 per cent were made by European Union citizens and 16.75 per cent by nationals from the rest of Europe. By nationality, British (6.99 per cent), Dutch (6.94 per cent) and German (6.11 per cent) buyers led the way.
All autonomous communities saw an increase in the proportion of property purchases by foreigners, which exceeded 30% in the Balearics (32.27%) and in the Valencian Community (31.03%). The Resale Property Price Index (IPVVR) reached a new all-time high after rising by 3.14 per cent compared with the previous quarter and by 16.7 per cent year-on-year. It is now 39.31% above the peak quarterly levels reached in 2007.
Similarly, the average house price stood at 2,487 euros per square metre – also an all-time high – after rising by 2.4% quarter-on-quarter and 9.2% year-on-year. For second-hand homes, the price reached 2,448 euros per square metre – another all-time high – after rising by 3.5 per cent quarter-on-quarter, whilst for new-build homes it fell by 0.7 per cent to 2,636 euros per square metre.
By autonomous community, the highest average prices were recorded in Madrid (€4,477 per square metre), the Balearic Islands (€4,311), the Basque Country (€3,616), the Canary Islands (€3,052) and Catalonia (€2,995).
Among provincial capitals, San Sebastián had the highest price, at 6,420 euros per square metre, followed by Madrid (5,534 euros), Barcelona (5,045 euros), Palma (4,291 euros) and Bilbao (3,764 euros). Meanwhile, 129,240 residential mortgages were taken out in the second quarter, 3.3% fewer than in the previous three months. These transactions accounted for 77% of all residential property sales, 1.9 percentage points more than in the previous quarter.
Year-on-year, 518,726 residential mortgages were recorded, representing an increase of 9%. Andalusia recorded the highest number of transactions in the quarter, with 25,501, followed by Catalonia (22,844), Madrid (20,604) and the Valencian Community (15,574).
Finally, mortgage debt per square metre rose by 2.9 per cent, marking the thirteenth consecutive quarter of growth, to reach an average of 1,861 euros per square metre. The average debt per property stood at €176,453, a new all-time high, after rising by 2.3 per cent quarter-on-quarter and recording nine consecutive quarters of growth.