In an increasingly competitive and diversified property market, Spaniards’ preference for new-build homes continues to be one of the most notable trends.
Demand for new properties is driven not only by the appeal of modern design, build quality and energy efficiency, but also by the desire for more functional spaces suited to evolving lifestyles. Yet, for some Spaniards, this aspiration is becoming almost impossible.
According to figures from appraisal firm Tinsa, new-build homes in Spain reached an average of €2,528 per m² in 2024, a 7.6% rise on the previous year. However, prices vary widely between provinces, particularly in major employment centres and areas with strong tourism appeal.
Top 10 provinces where new-build prices have increased the most
Málaga has recorded the sharpest rise in new build prices in Spain, with a year-on-year increase of 24.4%, bringing the average to €3,084 per m².
In second place are the Balearic Islands, where prices climbed by 19.8% to €4,399 per m² in 2024. Third place is shared by Madrid (€3,753 per m²) and Cantabria (€2,092 per m²), both posting the same annual growth rate of 15.7%.
A similar trend can be seen in Alicante (€2,505 per m²), Lleida (€1,866 per m²) and Pontevedra (€1,863 per m²), each registering a 12% rise.
The ranking is completed by Badajoz (€1,399 per m²), Murcia (€1,653 per m²) and Ávila (€1,127 per m²), with annual increases of 11.5%, 10.4% and 9.4%, respectively.
Huelva, the only province where the price decreased
It is worth noting that Huelva was the only province to record a fall in new build prices in 2024, with a 0.7% decline to €1,127 per m². Lugo also stood out, with prices remaining largely unchanged at €1,376 per m².
Conversely, the provinces with the smallest increases were Teruel (€1,489 per m²) and Guipúzcoa (€2,879 per m²), both seeing a modest 1.3% rise year-on-year. Santa Cruz de Tenerife followed closely, with prices reaching €2,252 per m², up 1.6% from the previous year.
