Spain house price index rises in 2026 Q2

Spain's house price index stood at 111.09 in 2026 Q2, according to the Instituto Nacional de Estadística (INE). The index uses 2025 as its base period (2025=100), so the 2026 Q2 reading places prices above their 2025 reference level. It is the highest value in the series covered here, which runs from 2025 Q2 to 2026 Q2.

The latest reading extends an upward run in the INE data. The index was 107.46 in 2026 Q1, 103.81 in 2025 Q4, 101.94 in 2025 Q3 and 99.04 in 2025 Q2. In each quarter shown, the index was higher than in the quarter before. Of these readings, only the 2025 Q2 value sat below the base level.

Housing Market Group calculated the rates of change from the INE figures. Between 2026 Q1 and 2026 Q2, the index rose 3.4%. Compared with the same quarter a year earlier, from 2025 Q2 to 2026 Q2, it was up 12.2%. These figures show that prices continued to rise in the most recent quarter and that the increase over the year as a whole was substantial.

A comparison with Germany puts the Spanish figures in a wider European context. Using data from the Statistisches Bundesamt (Destatis), HMG calculated that Germany's house price index, which also uses 2025 as its base period, rose 0.6% from 2025 Q2 to 2026 Q2. Over the same period, Spain's index rose 12.2%. Prices increased in both countries over the year, but the pace in Spain was far faster than in Germany.

Taken together, the INE data show Spanish house prices moving higher in every quarter from 2025 Q2 to 2026 Q2, with the index reaching 111.09 in the latest period. The figures describe how prices have developed up to 2026 Q2. They record past movements and do not on their own show how the market will move in later quarters.