While house prices across Spain have soared by nearly 16% over the past year, a surprising number of towns are seeing significant declines. In fact, ten municipalities have seen second-hand property prices drop by 13% or more since October 2024, according to idealista, the leading property marketplace in Southern Europe.
Topping the list are Torreperogil in Jaén and Arroyo de la Luz in Cáceres, both down a staggering 21% year-on-year. Close behind are Allariz in Ourense (-16%) and A Estrada in Pontevedra (-15%), while Campoo de Enmedio in Cantabria rounds out the top five with a 14% fall. Other towns in the top ten include Cotobade (Pontevedra, -14%), Mojados (Valladolid, -13%), El Carpio (Córdoba, -13%), and Alguazas and Abarán in Murcia (-13%).
Biggest price drops by region
The study also highlights the municipalities with the sharpest price drops in each autonomous community. Among these are Lloseta in the Balearic Islands, Arcas del Villar in Cuenca (Castile-La Mancha), and Cabrera de Mar in Barcelona (Catalonia), all down 12%. Rafol de Almunia in Alicante (Valencian Community) follows with an 11% drop. Other notable falls include Tineo (Asturias, -9%), Mungia (Biscay, -8%), Santa Úrsula (Tenerife, -7%), Corella (Navarra, -6%), and Castañares de Rioja (La Rioja, -2%).
Madrid and Aragon buck the trend
Interestingly, Madrid and Aragon are the only regions where none of the analysed municipalities saw a fall in house prices. Instead, the towns with the smallest increases were Caspe (Zaragoza, Aragon) and Brunete (Community of Madrid), both up just 1%.
Methodology
The data was compiled and analysed by idealista/data, idealista’s proptech division, which provides professional insights to support strategic decisions in Spain, Italy, and Portugal. It combines all parameters from idealista’s database with other public and private sources to offer services in property valuation, investment, acquisition, and market analysis.
