Used homes average about €2,823 per m² (+15.8% in a year), Madrid passed €6,000, and buying costs add roughly 10-13%. Prices and costs by city and region.
Property in Spain costs on average about €2,823 per m² for used homes (Idealista, June 2026, up 15.8% in a year), but the spread is huge: Madrid has passed €6,000 per m² while the Canary capitals sit near €2,650-2,760. On top of the price, budget roughly 10-13% for taxes and fees, more in high-tax regions. This guide gives the prices by city, the official trend and the real cost of buying, as of October 2026.
Price per m² by city and region (June 2026)
Figures below are Idealista asking-price indices for used homes, the most current we found; asking prices are usually above final sale prices.
- Madrid: above €6,000 per m² for the first time, up about 6.6% in a year.
- Barcelona: about €4,090 per m² in Q1 2026 (June figure not confirmed), up about 7.1% in a year.
- Málaga: about €3,784 per m², up 9.4% in a year.
- Alicante: about €2,909 per m².
- Valencia: up about 9.9% in a year; we could not confirm a reliable per-m² figure.
- Balearic Islands: about €5,228 per m² across the province, the most expensive in Spain.
- Canary Islands: about €2,645-2,760 per m² in Las Palmas and about €2,668 in Santa Cruz de Tenerife.
- San Sebastián: about €6,415 per m², the most expensive provincial capital.
Which of these areas suits your goal is covered in best areas to buy in Spain.
The official trend: INE
The INE housing price index rose 12.2% year on year in Q2 2026, slightly slower than the previous quarter, and 3.4% on the quarter. Second-hand homes rose 12.9% and new homes 7.4%. Foreign buyers were about 16% of purchases in Q2 2026 (see foreigners buy a record 16% of Spanish homes). Prices are rising faster than rents, which compresses yields; see rental yield in Spain.
Transfer tax on resale (ITP) by region
A used home pays ITP, set by each autonomous community, on the higher of the price and the reference value:
- Madrid: 6%.
- Andalucía (Costa del Sol): 7%.
- Canarias: 6.5%.
- Comunitat Valenciana (Alicante, Valencia): 10% (a cut was reported from June 2026; confirm the current rate).
- Cataluña: 10% up to €1 million, 11% to €2 million, 13% above.
- Illes Balears: 8% up to €400,000, 9% to €600,000, 10% to €1 million, 12% to €2 million, 13% above.
Reduced rates for first homes, young buyers or large families are usually not available to non-residents buying a second home, so confirm eligibility before counting on them.
New builds: VAT and stamp duty
A new home from a developer pays 10% VAT on residential property plus stamp duty (AJD), typically about 1-1.5% depending on the region, instead of ITP. Check whether a price is quoted with or without VAT. The trade-offs are in new-build vs resale in Spain.
Other costs at purchase
- Notary: regulated tariff, from a few hundred euro to around €1,000 for a typical residence.
- Land registry: scales with value; agent summaries put it near 0.1-0.25% of the price.
- Lawyer: commonly about 0.5-1% of the price.
- NIE number and a Spanish bank account: needed before signing.
- Agent: usually paid by the seller; confirm in writing.
In total, roughly 10-13% on a resale in most regions, and up to about 15% in the highest-tax regions or with extra advisers.
Annual costs of owning
- IBI property tax: 0.4-1.1% of the cadastral value, set by the municipality.
- Waste tax: roughly €80-150 a year.
- Community fees: commonly €30-150 a month.
- Insurance: about €250 a year.
- Non-resident owners who do not let: imputed income of 1.1% or 2% of the cadastral value taxed at 19% (EU, EEA) or 24% (others).
Budget examples
Our own arithmetic, illustrative only.
- Resale apartment, €250,000, Andalucía: ITP 7% is €17,500, plus about €3,750 for notary, registry and legal, so roughly €21,250 or 8.5%.
- Resale apartment, €400,000, Barcelona: ITP 10% is €40,000, plus about €4,500, so roughly €44,500 or 11%.
- New apartment, €350,000 plus VAT, Comunitat Valenciana: VAT €35,000, stamp duty at about 1.5% is €5,250, plus about €4,000, so roughly €44,250 or about 12.6% of the pre-VAT price.
Financing is covered in mortgages for foreigners in Spain.
FAQ
What is the average property price in Spain? About €2,823 per m² for used homes in June 2026 on Idealista data, but regions range from about €2,650 to above €6,000.
How much extra should I budget? Roughly 10-13% for a resale, with the exact figure set by the region's transfer tax.
Are prices still rising? Yes: INE showed +12.2% year on year in Q2 2026, with Madrid, Málaga and Valencia all up by 6-10%.
Can a non-resident get the reduced tax rates? Usually not on a second home; confirm with a lawyer.
How we help
We shortlist by budget and city, calculate the all-in cost including the regional tax, and coordinate lawyers, the NIE and the notary. See also the resale checklist, the Spain property guide and the Spain country page.
Informational only, not legal, tax or investment advice. Figures are indicative as of October 2026 and change.