The issue of access to housing has become a central topic in Spain's social and political debate in recent months. Not only does it remain the main concern among citizens, but it has also been a key factor behind the decision to bring forward the general election to 29th November. Housing is one of the main issues in the election campaign, against a backdrop of property price increases approaching 40% since Pedro Sánchez took office in 2018.
According to data from the Notarial Statistical Portal (Portal Estadístico del Notariado), during his time in government, the average price per square metre of properties sold in Spain has soared by 37%. It rose from €1,426/m² in June 2018, following the successful motion of no confidence against former Prime Minister Mariano Rajoy, to €1,959/m² last August, the latest official figure published by the General Council of Notaries (Consejo General del Notariado). In absolute terms, this represents an increase of €533/m².
Looking beyond the price per square metre, it is also possible to calculate the average value of property transactions, as notaries provide data on the average floor area of homes sold. Last August, the average transaction stood at €215,596, compared with €158,534 in mid-2018. This represents an absolute increase of €57,062, or 36% in relative terms.
Notaries also highlight that the rise in house prices has gathered pace over time. In 2018, prices were increasing at an annual rate of 2.4%, whereas in 2025 the figure reached 7.55%. This represents an increase of 5.12 percentage points, or 210.7% in relative terms.
Since April this year, annual price growth has been in double digits, reaching 12.8% in August. This was the largest year-on-year increase since October 2021, when prices rose by 14.3%.
Higher prices have not slowed property sales
The sharp rise in the average price of homes sold has not put the brakes on property transactions. In 2018, a total of 586,397 property sales were completed before a notary. By 2025, this figure had reached 755,969, the highest level since the property boom.
A total of 440,912 transactions had been recorded by August, meaning 2026 could end with around 661,000 property sales if the current trend continues.
So far, however, transactions have declined year on year every month, with August marking the lowest monthly figure in the past six years.
Slight increase in buyers' median age and years of income needed to buy
The median age of property buyers has also risen, although much more moderately, from 44 in 2018 to 46 in 2025. This represents an increase of 4.5%.
The smallest change concerns the number of years of income required to buy a home. This figure has barely changed, rising from 5.02 years in 2018 to the current 5.03 years, an increase of just 0.18%.
