Spain’s house prices continue to increase, despite weakening property demand and a slowing economy. Nationwide house prices rose robustly by 7% (up 3.7% when adjusted for inflation) in Q1 2024, compared to the previous year, according to figures from the online property information site Idealista.

This followed a full-year growth of 8.2% (4.9% inflation-adjusted) in 2023.

Official figures released by the government also showed continued house price growth in the country, albeit at a more moderate pace. Data from the Bank of Spain indicated that Spanish house prices increased by 5.3% to €1,842sqm in 2023, compared to a year earlier, following y-o-y growth of 3.3% in 2022 and 4.4% in 2021. However, when adjusted for inflation, house prices were up by a modest 2.0% during the three-year period.