The average price of a home in Spain is $424,000, according to the latest data from My Dolce Casa’s real estate report. Property prices in Spain have increased by about 7% in the past year, as the country is one of the top homebuying destinations for Americans.
In comparison, the U.S. median home price is $420,800, according to the most recent St. Louis Fed data.
Sunshine, beautiful coastlines, a vibrant culture admired around the world, and last, but not least, a straighforward homebuying process are just a few of the reasons that Americans and many other foreigners are choosing Spain as their second home.
The average price of a home in Spain by region
You can find a great home to buy in Spain in any budget, as property prices vary from region to region. The most expensive region to purchase real estate in Spain are the Baleares Islands, followed by the Community of Madrid region.
On the other end of the spectrum, we have the region of Castilla-La Mancha and Extremadura as the most affordable to invest in Spanish real estate.
Here’s what it costs to buy a house in each of the Spanish regions, on average:
- Balearic Islands $860,000
- Madrid $680,000
- Basque Country $592,000
- Canary Islands $518,000
- Catalonia $480,000
- Andalucía $432,000
- Valencia $374,000
- Navarra $342,000
- Cantabria $330,000
- Aragón $292,000
- Asturias $282,000
- Galicia $282,000
- La Rioja $272,000
- Murcia $248,000
- Castilla y León $242,000
- Extremadura $202,000
- Castilla-La Mancha $190,000
To calculate the average price of a house in Spain in US Dollars, My Dolce Casa analyzed the latest published real estate prices, converted the price per square meter into the price per square foot, then multiplied this by 2,000 square feet, which is considered an average-sized house in the United States. Additionally, all prices were converted from euros into U.S. dollars.
The most expensive places to buy property in Spain
Spain has thousands of cities and towns to choose from, each with its own unique identity, lifestyle, and cost of living. We analyzed the real estate market in the 100 largest cities in Spain.
If you’re looking to move to one of Spain’s largest cities, like Madrid or Barcelona, or an affluent seaside resort, like Palma de Mallorca, these will have the most expensive homes. Here’s what you can expect to pay for a house:
- Donostia-San Sebastián $1,116,000
- Marbella $940,000
- Madrid $886,000
- Barcelona $882,000
- Sant Cugat del Vallès $874,000
- Palma de Mallorca $800,000
- Pozuelo de Alarcón $772,000
- Getxo $772,000
- Bilbao $672,000
- Fuengirola $668,000
The cheapest places to buy a house in Spain
Given that Spain is such a large country, it’s easy to find places that are affordable as well as great places to live. If you’re wondering where are the lowest real estate prices in Spain, here’s the top 10 list out of 100 largest Spanish cities analyzed:
- Talavera de la Reina $188,000
- El Ejido $208,000
- Lorca $224,000
- Algeciras $232,000
- Jaén $238,000
- Cartagena $248,000
- Lleida $248,000
- Manresa $250,000
- Lugo $256,000
- Avilés $256,000
How much is a house in US Dollars in the top 30 largest cities in Spain?
Looking at the options to buy a home in one of Spain’s largest cities, prices range from about $250,000 to over $800,000 for an average-sized home. The capital city of Madrid leads as the most expensive city to be a homeowner, Cartagena is among the most affordable.
Property prices in some of Spain’s most popular cities are: Valencia $490,000, Sevilla $460,000, Malaga $564,000, Alicante $408,000, Granada $418,000, Oviedo $348,000. Check out the table below to see how much it costs to buy a house in all 30 cities.
Methodology:
- When using or citing this data, please give credit to My Dolce Casa by linking to this report
- Portugal home price data source: Idealista.pt, valid as of the date of this report
- United States home price data source: St. Louis Federal Bank, valid as of the date of this report
- Original prices published in euros per square meter
- Euros converted to U.S. dollars at an exchange rate valid as of the date of this report
- Square meters converted to square feet
- The average price of a 2,000 square foot home was calculated by multiplying the price per square foot in USD by 2,000
