In October, the Canary Islands recorded the highest rise in house prices across Spain, with a year-on-year increase of 16.3%, bringing the average price per square metre to 2,767 euros, as reported by Idealista’s latest property price index.
Nationally, house prices rose by 9.6% year-on-year in October, setting a new record with an average of 2,209 euros per square metre. Every autonomous community in Spain showed an increase compared to the previous year. Leading the way was the Canary Islands (16.3%), followed by the Community of Madrid (15.4%), the Region of Murcia (14.9%), the Balearic Islands (14.8%), and the Community of Valencia (14.2%).
Increases were under 10% in regions such as Andalusia (9.4%), Cantabria (9%), and Catalonia (4.9%), with the lowest increases in Extremadura (2.5%), Castilla-La Mancha (3.3%), and Galicia (4%).
The Balearic Islands emerged as the most expensive region, with an average price of 4,663 euros per square metre, followed by Madrid (3,638 euros), the Basque Country (3,015 euros), and the Canary Islands (2,767 euros). Conversely, the lowest prices were in Castilla-La Mancha (937 euros), Extremadura (977 euros), and Castilla y León (1,199 euros).
On a provincial level, 46 provinces saw house prices rise compared to last year, with the steepest increases in Santa Cruz de Tenerife (16.4%) and Las Palmas (16%), followed by Madrid (15.4%), Murcia (14.9%), and the Balearic Islands (14.8%). In contrast, only four provinces experienced price drops, with Ourense seeing the largest decrease at -3.2%.
The Balearic Islands continues to be the most expensive province, averaging 4,663 euros per square metre, followed by Guipúzcoa (3,664 euros) and Madrid (3,638 euros). Ciudad Real is the most affordable province, with prices averaging 746 euros per square metre, followed by Cuenca (839 euros) and Jaén (841 euros).
