Is it a bubble? Spains housing market continues to rocket upwards with annual growth of nearly 10% heres the most expensive areas, and where to find a bargain [Video]

SPAIN’S housing market continues to set records and shoot for the stars.

It has expanded 9.6% year-on-year and 16.62% since just January 2023, according to the latest house price data from Idealista.

Continual breakneck growth has propelled it to outstrip peaks last seen during the 2007 housing bubble.

The average house in Spain now costs €2,209 per square metre, 4.4% higher than in June 2007, when it peaked at €2,115.

While the current trajectory is only upwards, from June 2007 it tumbled to €1,890 in February 2010.

READ MORE: Is Spain’s rental market starting to cool off? Nationwide numbers are down – but prices are still spiralling where it matters in Barcelona and Madrid

Prices rallied briefly in 2012, before Spain was clobbered by the euro crisis, which sent the country into a deep economic malaise.

But since a trough of €1,491 in September 2016, Spain’s house prices embarked on an impressive recovery, …