SPAIN’S property market has kicked off 2026 with a sharp post-Christmas surge that has pushed prices to their highest level on record.
New figures from Idealista show asking prices for second-hand homes have risen by 3.7% in just three months, taking the national average to €2,650 sqm in January.
That represents an annual jump of 18.4% compared to January last year.
The property portal says this is the highest price recorded since it began tracking the market.
The acceleration since November is being felt most strongly in the very coastal areas that are most popular with foreign buyers and expats.
Andalucia, which includes the Costa del Sol, has seen prices rise by 21.4% over the past year, making it the second fastest-growing region in Spain.
In Malaga province, prices now stand at €4,082 per sqm, making it the fourth most expensive province in the country to buy a home.
For context, a 90 sqm two-bed apartment now costs roughly €367,380.
Malaga city itself has seen prices rise by 12.2% over the past year, with a similar property setting you back a cool €527,490.
Further east, Murcia has recorded the fastest annual rise in Spain at 25.8%.
The region, which includes long-established British retirement and golf urbanisations around Camposol, Mazarron and the Mar Menor, has quietly become one of the country’s hottest property markets.
Almeria province has also seen prices jump by 19%, despite traditionally being viewed as one of the last ‘affordable’ corners of southern Spain.
Meanwhile, Valencia province, home to much of the Costa Blanca, has recorded the single biggest rise in Spain at 25.9%.
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Alicante city itself has seen prices increase by 11.2% over the year.
The data suggests that demand in expat-favoured coastal zones is continuing to outstrip supply, pushing seller expectations higher at the start of the year.
By contrast, some of Spain’s cheapest provinces remain dramatically below coastal price levels.
The Andalucia average for a 90-metre, two-bed property is around €250,560, driven by zones where demand is dramatically low.
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In Jaen, used homes cost just €858 per sqm (€77,220 for a two-bed), while in Ciudad Real the figure drops to €779 per sqm (€70,110).
Idealista’s index is based on asking prices published on its platform, filtered to remove anomalous listings and long-standing unsold properties, and calculated using the median price per market.
The figures point to a market that has started 2026 with strong momentum in the very areas where foreign buyers have been most active in recent years.
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