Used-home prices rise 11.8% in the third quarter and stand €3 short of their peak: €2,930/m², led by Toledo (+19%) and Burgos (+18%)

05/10/2026 – ⏱ 4 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

The price of used homes for sale in Spain closed the third quarter of 2026 at 2,930 euros per square metre, according to the index published by idealista on 2 October. The figure represents an increase of 11.8% compared with the same period of 2025, 0.5% compared with the previous quarter and 0.2% over the last month. The figure is barely 3 euros below the series' all-time high, recorded in July 2026 (2,933 euros per square metre), that is, 0.1% below that ceiling.

A high year-on-year rise with a contained quarterly pace

Reading the three rates together shows a picture with two speeds. In year-on-year terms, the price continues to advance at double digits. In quarterly and monthly terms, the rise is half a point and two tenths respectively, which indicates that the pace of appreciation has slowed in recent months. As a reference from another source, Fotocasa put the price of second-hand housing at 3,136 euros per square metre in the third quarter, with a year-on-year increase of 13.8%. The two indices use different methodologies, so their levels are not directly comparable.

Autonomous communities: Castilla-La Mancha and Cantabria in the lead

By region, the largest year-on-year increases are recorded in Castilla-La Mancha (+15.5%), Cantabria (+14.6%), the Region of Murcia (+13.9%), Aragón (+13.7%) and Asturias (+12.6%). At the other end, the smallest increases correspond to the Balearic Islands (+4.1%), the Canary Islands (+6.3%), La Rioja (+6.5%) and Madrid (+6.9%). As for price levels, the Balearic Islands (€5,593/m²), Madrid (€5,065/m²) and Euskadi (€3,805/m²) are the most expensive regions, while Extremadura (€1,049/m²) and Castilla-La Mancha (€1,157/m²) are the most affordable. That combination places Castilla-La Mancha as the fastest-growing region and, at the same time, one of those with the lowest average price.

Provinces: Toledo and Burgos exceed 18%

At provincial level, Toledo leads the increases with 19%, followed by Burgos (+18%) and Ciudad Real (+15.8%). Ourense (-3.6%) is the only province with a year-on-year decline; Palencia (+1.9%) and Jaén (+3.1%) record the lowest increases among those that rise. The Balearic Islands (€5,593/m²), Madrid (€5,065/m²) and Gipuzkoa (€4,743/m²) are the provinces with the highest prices, and Ciudad Real (€858/m²) and Jaén (€879/m²) those with the lowest.

Capitals: record highs in eleven cities

Among provincial capitals, the largest year-on-year increases are in Ciudad Real (+21.7%), Teruel (+18.9%) and, with 17.9% each, Salamanca and Pontevedra. The smallest are in Madrid (+2.4%), San Sebastián (+3.4%) and Palma (+3.6%). San Sebastián (€6,726/m²), Madrid (€6,458/m²) and Palma (€5,513/m²) are the most expensive; Jaén (€1,466/m²), the most affordable. In September 2026, eleven capitals reached all-time price highs, including Barcelona, Málaga, Alicante and San Sebastián. The pattern is consistent with that observed in other recent indicators: the most expensive markets grow at lower rates and much of the increase is concentrated in lower-priced locations.

Fewer transactions, more expensive financing and moderating prices

Francisco Iñareta, spokesperson for idealista, attributed the moderation of the increases to the combined effect of high prices, which have pushed some buyers away, and of rising financing costs, which have reduced the volume of transactions. In his assessment, stabilisation or even declines could occur in the large capitals in the medium term, while secondary markets maintain double-digit growth. This context links with other data published in recent weeks: home sales fell 5.1% in July according to the INE, mortgage signings fell 3.5% that same month, and the Euribor stands above 3% after the ECB's rate rise.

Investor takeaway

These figures should be interpreted with caution. They are asking prices published on a property portal, not prices of deeds actually signed, and they measure what is asked, which does not always match what ends up being paid. The highest percentage rises occur on low starting prices and on smaller volumes of listings, which amplifies their variability. That an index approaches its all-time high does not allow its future evolution to be anticipated: past results are no guarantee of future results, and all real-estate investment carries risks of illiquidity, default and total or partial loss of capital.

In an environment of high sale prices and more expensive financing, some private capital has in previous cycles explored routes of exposure to real estate other than the direct purchase of a home, including regulated crowdfunding formulas. This is an observed dynamic, not a recommendation. At European level, the activity of crowdfunding platforms is governed by Regulation (EU) 2020/1503 and, in Spain, by the implementing and supervisory rules of the CNMV.

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