The Bank of Spain reports a 7.05% rise in property prices in Q4 2024, with inflation-adjusted growth at 4.58%—the highest surge since 2007. Meanwhile, the National Institute of Statistics (INE) recorded even faster annual growth of 11.26% (+8.7% after inflation).
Andalusia (+13.4%), Aragon (+13.3%), and Navarre (+12.9%) led the way in year-over-year increases, while Valencia, Cantabria, and Asturias also saw strong growth ranging from 8.6% to 12.2%.
It’s interesting to note that between 2008 and 2015, property prices in Spain fell by 36.3%. But since then, the market has made a strong recovery. In 2023–2024 alone, prices increased by 12.74%, and the number of transactions rose by 10%, hitting 642,208. There’s also been a 14.5% increase in new construction projects and a 7.6% rise in completed properties.
Spain’s GDP grew by 3.2% last year, driven by strong consumer activity and service exports. Forecasts for 2025 vary slightly: the IMF predicts 2.5% growth, the European Commission forecasts 2.3%, and Banco de España projects 2.7%.
Spain’s real estate market continues to show resilience and long-term potential. While growth may moderate in the coming years, the current momentum presents a unique window of opportunity.
Inmolux Group has been helping clients make smart, secure property investments in Spain for over a decade. If you're thinking about buying a second home, starting a rental business, or protecting your capital, now is the time to act.
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