Madrid house prices climb three times faster than Barcelona's

Housing prices per square metre in Madrid have climbed three times faster than in Barcelona since 2021, according to data from Spain's property registrars.

Prices in the Spanish capital have surged nearly 50%, while in Barcelona the increase has been around 16%.

In the third quarter of 2024, Madrid overtook Barcelona as the second-most expensive city in Spain.

Buying an apartment in Madrid is now about 10% more expensive: €5,283 per square metre compared with €4,800/m² in Barcelona.

At current prices, an 80 m² apartment costs roughly €39,000 more in Madrid (€422,640) than in Barcelona (€384,000), a sharp reversal from just four years ago.

Divergent growth rates

Both cities have seen housing prices rise in recent years, but at very different rates.

In Madrid, the price per square metre has jumped nearly 50% over four years, from €3,641 in the last quarter of 2021 to €5,283 in the last quarter of 2025.

In the Catalan capital, the increase over the same period has been about 16%, from €4,125/m² to €4,800/m².

In the last year alone, prices in Madrid rose 17%, compared with about 7% in Barcelona, according to year-on-year data for the last quarter.

Spain's most expensive cities

Madrid and Barcelona are now the second- and third-most expensive cities in Spain to buy an apartment, after Donostia/San Sebastián in the Basque Country, where the average price per square metre reached €6,107 in the last quarter of 2025. 

The fourth-most expensive city is Palma, in Mallorca, which recently surpassed €4,000/m² for the first time. 

Across Catalonia, housing prices rose 6.4% on average last year, reaching €2,709/m² – well below the €4,800/m² in Barcelona.

The average price in Spain is significantly lower at €2,284 per square metre, although the year-on-year increase has been higher than in Catalonia, rising 9.5%.