The Spanish housing market enters the last quarter of 2026 with prices still rising strongly, but with fewer transactions and more expensive mortgages. Seville is one of the few Andalusian provinces where sales are still growing.
Spain: prices up, sales down
- Prices. According to Spain's National Statistics Institute (INE), house prices rose 12.2% year on year in the second quarter: 7.4% for new homes and 12.9% for resale homes.
- Sales. In July 61,417 sales were signed, 5.1% fewer than a year earlier.
- Financing. The 12-month Euribor closed September with an average of 3.247%, its highest level in two years. The ECB has raised rates to 2.5% and meets again on 29 October.
- Mortgages. In July, 3.5% fewer mortgages were signed, with a record average amount of €180,785.
Andalusia: prices slightly below average and a new law
- Prices. In Andalusia prices rose 11.9%.
- Sales. 12,239 were signed in July, 5.5% fewer, although it was the second-best July in the recent series.
- Andalusian Housing Law. Law 5/2025 sets a target of 20,000 subsidised homes in five years and allows offices and commercial premises to be converted into housing without amending the zoning plan.
Seville and the Aljarafe
- Price in the city. According to idealista, the price per square metre stands at €2,933 (+10.4% year on year), still 11.7% below its 2007 peak.
- Price in the province. €2,080/m², up 14.7%.
- Sales. In July sales grew 7.9% in the province, while the Andalusian average fell.
- Aljarafe. Bormujos (€2,134/m²) and Castilleja de la Cuesta are at all-time highs, and Tomares already exceeds €2,460/m².
Our view
Prices are rising because there is very little new housing, not because of a sales boom. With more expensive financing, buyers look harder at the total price and the quality of what they buy. That is why we believe in new-build and refurbishment in established neighbourhoods, at moderate prices. This is the case in Cerro del Águila, where the last homes at Nuestra Señora and Galicia start from €176,000 and €220,000 (VAT included). It is also the case in the Aljarafe, where we are developing Ronda de la Feria and Puerta del Aljarafe.
Nationally, the Government has re-approved two housing decrees. Among other measures, they include ICO loans of up to 20% of the property value and 4% VAT on subsidised housing. They are pending parliamentary ratification, so it is worth waiting for their final text.
Sources: INE · idealista (sales) · idealista (mortgages) · EuriborDiario · idealista (ECB) · El Conciso · Andalucía Informa · idealista Seville · idealista (decrees). Data consulted on 18-10-2026.
