Barcelona most expensive city in Spain for existing home prices, report says

The resale price of existing homes in Barcelona was the highest in Spain during the first half of the year, reaching €3,851 per square metre, according to a report by estate agents Tecnocasa and Pompeu Fabra University.

This represents a 16.3% increase compared to the first six months of 2024 and puts the city ahead of Madrid, where the price stood at €3,576 per square metre.

Across Spain, housing prices have also risen by 16.3%, reaching €3,025 per square metre, the biggest increase since 2006.

The report found that demand has grown by 32% and supply has dropped by 15.6%, making it a good time to sell.

Sales of existing homes in Spain grew by 15.23% in the first quarter, reaching 167,865, according to figures from Spain's housing ministry – the highest total since at least 2004.

Existing homes accounted for 91.2% of sales, compared to only 8.8% for new builds.

Mortgages

Barcelona also topped the list for mortgages, with an average mortgage of €184,955 in the first half of the year, a 17.6% year-on-year increase. The average mortgage in Spain was €151,244, up 17.3%.

The report found that the average buyer was a first-time buyer (72.6%) purchasing a home to live in, with 71.5% requiring a mortgage. New buyers are most commonly aged 35 to 44 (35.8%) and single (43.3%).

Investment buyers have fallen from 28.4% in 2023 to 22.7% today.

According to the report, in Barcelona alone, around 209,166 new homes will be needed by 2030.