Murcia leads Spain as resale property prices rise by 23%
New data shows Murcia leading the national housing market, outpacing all other regions in year-on-year price growth
According to new data released by Spanish property portal idealista, the price of resale properties in Spain rose by 16.9% year-on-year in April, reaching €2,748 per square metre. They also reported a 3.7% increase over the past three months, and prices were up 1.5% from the previous month. This makes the average price of resale properties of €2,748/m2, the highest level recorded since idealista began tracking the market.
But it was the Region of Murcia that led the way, recording Spain's sharpest annual rise in resale property prices at 23%. The average price of resale properties in the Region is now 1.747 €/m2. That's an increase of 1.7 % in the last month and 3% in the last trimester. In April 2025, this figure stood at €1,420/m2 and in 2024, €1,232/m2.
The sharp rise in prices comes down to a fairly classic economics pattern: rising demand meeting a limited supply. It's fairly well known why the demand is rising. Nationally, Spanish buyers are looking for more reasonably priced properties as they are priced out of the market in other areas. And more international buyers are discovering the Region, and it remains reasonably priced compared to other coastal areas and capital cities, but that is changing quickly.
But that still leaves the question of why supply is so limited. One key reason is that many homeowners are reluctant to sell while sitting on fixed-rate mortgages agreed at much lower interest rates. Moving home today usually means taking on much higher borrowing costs. This has reduced the number of resale properties coming onto the market.
At the same time, new construction has slowed down in recent years. This is attributed to rising building costs, planning delays and a lack of available land.
This is also being felt across Spain, especially in the main cities and coastal regions. Resale property prices rose in every autonomous community over the past year, with the Region of Murcia followed by Cantabria (19.2%), Asturias (17.7%) and Andalucía (17.6%). In major markets, growth was also strong in the Valencian Community (15.4%) and Cataluña (14.1%). Madrid recorded a 13.5% rise, remaining the most expensive mainland region at €4,707/m2, and the Balearics topped the table overall at €5,252/m2.
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