Spain’s property market is continuing to show an interesting trend in 2026: fewer homes are changing hands, but prices continue to rise.
The latest figures for June show a moderate decline in the number of property transactions compared with the same month last year, while average prices per square metre reached new highs.
For prospective buyers waiting for a significant fall in property prices, the latest data suggests that patience may not necessarily work in their favour. Although transaction volumes have softened, there is currently little indication of a broad-based price correction across Spain’s most sought-after markets.
Spanish Property Sales Fall While Prices Rise
According to figures from Spain’s Notaries, 67,529 homes were sold in June 2026, representing a 4% year-on-year decline.
At the same time, the average property price increased by 8.8%, reaching €2,114 per square metre.
This creates an important contrast in the current market: transaction volumes are falling, but the properties that are being sold are achieving higher prices.
The trend is particularly noticeable in the apartment market.
Apartments
Apartment sales declined by 5.6%, with 50,458 transactions recorded during June.
Despite the fall in sales, average apartment prices increased by 13.8% to €2,529 per square metre.
This suggests that demand for well-located apartments remains strong, particularly in areas where housing supply is limited.
Houses
The single-family home market performed somewhat differently.
Sales of houses increased by 0.8% year-on-year, reaching 17,071 transactions. Average prices nevertheless continued to rise, increasing 2.5% to €1,504 per square metre.
The difference between apartments and houses highlights how varied Spain’s property market has become, with location, property type and buyer profile all playing an important role.
Mortgages Continue to Support the Market
Financing remains an important part of the Spanish housing market.
In June, 53.7% of home purchases were financed with a mortgage. On average, mortgages covered 72.3% of the property's value.
This indicates that a significant proportion of buyers continue to rely on mortgage financing, despite higher property prices.
The figures also provide an insight into the level of borrowing being used to purchase homes across Spain and show that mortgage-backed purchases remain an important component of overall demand.
Coastal Spain Remains a Key Market for International Buyers
Spain's coastal regions and islands continue to attract substantial interest from overseas buyers.
Six regions stand out as particularly important markets:
- Andalusia
- Comunidad Valenciana
- Region of Murcia
- Balearic Islands
- Canary Islands
- Catalonia
These destinations combine many of the characteristics international buyers are looking for, including Mediterranean or Atlantic coastlines, established tourism infrastructure, international airports, outdoor lifestyles and a wide choice of residential property.
The latest figures show that sales and prices are behaving differently across these regions, making it increasingly important for buyers to look at individual markets rather than Spain as a whole.
Andalusia: Fewer Sales but Continued Price Growth
Andalusia recorded 12,766 home sales in June, a 9.7% decrease compared with the previous year.
However, average property prices increased by 8%, reaching €1,797 per square metre.
Mortgage financing remained significant, with 50.6% of purchases financed through mortgages.
A total of 6,455 mortgages were issued, with an average loan value of €168,908.
What Does This Mean for the Costa del Sol?
Andalusia includes some of Spain's most internationally recognised property markets, particularly along the Costa del Sol.
Locations such as Marbella, Estepona, Mijas, Fuengirola and Casares continue to attract buyers searching for permanent homes, holiday properties and investment opportunities.
The combination of declining transaction numbers and rising prices suggests that buyers should not assume that fewer sales automatically mean cheaper properties.
In sought-after coastal locations, limited availability of desirable homes can continue to support prices even when overall transaction volumes soften.
Comunidad Valenciana Shows Strong Growth
The Comunidad Valenciana is showing a very different picture.
Home sales increased by 7.9% year-on-year to 11,855 transactions, while average prices surged by 21% to €1,951 per square metre.
Mortgage activity also increased significantly.
The number of mortgages issued rose 11.6% to 4,789, with an average mortgage value of €160,381. Mortgages financed approximately 40.4% of property transactions.
The region's performance demonstrates the strength of demand across parts of the Costa Blanca, which remains one of Spain's most popular destinations for international property buyers.
Areas around Alicante, Torrevieja, Orihuela Costa, Benidorm, Jávea and other coastal communities continue to benefit from strong international interest.
Murcia: Strong Price Growth Despite Lower Sales
The Region of Murcia provides another interesting example of the current market.
Home sales declined by 9% year-on-year to 2,583 transactions.
However, average property prices increased by an impressive 22.1% to €1,457 per square metre.
Mortgage activity also moved in the opposite direction to sales volumes. The number of mortgages increased by 7.6% to 1,140, with an average loan value of €124,928.
Mortgages accounted for 44.1% of property purchases.
What Does This Mean for the Costa Cálida?
The figures are particularly relevant to buyers considering the Costa Cálida and Region of Murcia.
The area offers a combination of relatively competitive property prices, Mediterranean beaches, golf resorts and established international communities.
Popular destinations include Los Alcázares, the Mar Menor, La Manga, San Pedro del Pinatar and several inland golf resorts.
The significant increase in average prices demonstrates that affordability is changing, even in markets that remain comparatively less expensive than parts of the Costa del Sol or Balearic Islands.
Should Buyers Wait for Property Prices to Fall?
The latest figures raise an important question for anyone considering buying property in Spain: is it better to wait?
There is no simple answer, but the June figures provide an important warning against assuming that falling sales automatically lead to falling prices.
Across the three coastal markets highlighted above, sales declined in Andalusia and Murcia, yet prices increased by 8% and 22.1% respectively.
Meanwhile, the Comunidad Valenciana recorded both higher sales and a substantial 21% increase in average prices.
This demonstrates that Spain is not one single property market. Conditions can vary considerably between regions, cities and even individual neighbourhoods.
Location Matters More Than Ever
For buyers, this means that national statistics should be used as a guide rather than a prediction of what will happen to a particular property.
A beachfront apartment in Marbella, a new-build villa in Murcia and a townhouse on the Costa Blanca can all experience very different levels of demand.
Factors such as:
- Location
- Property type
- Quality and condition
- Proximity to the beach
- Availability of new developments
- International buyer demand
- Local housing supply
- Access to transport and amenities
can all influence the value and marketability of a property.
What the 2026 Market Means for International Buyers
The latest figures suggest that Spain's property market is entering a more selective phase.
There are fewer transactions nationally, but prices continue to rise in many of the country's most popular regions.
For international buyers, this means that waiting for a major nationwide price drop may not necessarily be the best strategy.
Instead, buyers may benefit from identifying the right location and property type, monitoring local market conditions and comparing properties carefully.
For those purchasing with a mortgage, financing conditions and borrowing capacity should also be considered alongside the purchase price.
The Outlook for Spain's Property Market
Spain's property market remains resilient in 2026.
Although the number of transactions has declined, rising average prices demonstrate that demand remains strong enough to support higher valuations in many parts of the country.
The coastal regions remain particularly important, with Andalusia, Comunidad Valenciana and Murcia continuing to attract both domestic and international buyers.
The most important takeaway from the latest figures is that lower sales volumes do not automatically translate into lower property prices.
For buyers considering a home in Spain, particularly in popular coastal destinations, the market may therefore be less about waiting for prices to fall and more about finding the right property at the right price.