The residential market maintained its upward trend in the third quarter of 2025, according to the Residential Market Barometer compiled by Gloval Analytics, which analyses price trends in Madrid, Barcelona and their metropolitan areas at the end of September.
In the city of Madrid, the average price stood at €5,078 per square metre, representing a year-on-year increase of 19% and a quarterly increase of 4.6%. In its metropolitan area, the average value reached €3,342 per square metre, up 16.3% on the same period in 2024 and 5% on the previous quarter. Both rates exceed those recorded in the second quarter, in a context marked by domestic demand and limited available supply.
All the municipalities analysed in the Madrid area show year-on-year increases. The largest increases were recorded in Fuenlabrada (+25.9%), Alcorcón (+21.8%), Coslada (+21.6%) and Leganés (+21.2%). In terms of absolute values, Pozuelo de Alarcón leads the way in terms of prices in the suburbs with €4,826 per square metre, followed by Alcobendas (€4,322 per square metre) and Majadahonda (€4,283 per square metre). Notable quarterly variations include Alcobendas (+6.8%), Tres Cantos (+6.6%) and Pozuelo de Alarcón (+6.5%).
In Barcelona, the average price reached €4,531 per square metre, 15.2% more than a year earlier and 4.3% above the second quarter. In its metropolitan area, the average value stood at €2,967 per square metre, with increases of 10.3% year-on-year and 3.4% quarter-on-quarter. None of the municipalities analysed recorded declines. Among the most notable increases were Esplugues de Llobregat (+17%), Badalona (+14.9%), Sant Adrià de Besòs (+12.7%), L'Hospitalet de Llobregat (+12.7%) and Santa Coloma de Gramanet (+13.1%). In absolute terms, Sant Cugat del Vallès (€4,718 per m2) and Sant Just Desvern (€4,093 per m2) lead the way in terms of prices in the metropolitan area, followed by Esplugues de Llobregat (€3,648 per m2) and Sant Joan Despí (€3,114 per m2).
The report also includes the macroeconomic context for the third quarter. National GDP increased by 2.8%, above the Bank of Spain's forecast for the year as a whole (2.6%). The unemployment rate stood at 11.45%, slightly higher than the 11.21% recorded in the same period in 2024, although below the national average in the metropolitan areas of Madrid (7.94%) and Barcelona (8.81%).
Real estate indicators also reflect positive performance. Household lending grew by 20.36% year-on-year and housing transactions increased by 3.15% across the country. The Euribor recorded slight upturns but remained at low levels, while inflation closed September at 3%.
Roberto Rey, Chairman and CEO of Gloval, points out that demand continues to exceed available supply in large urban areas, which keeps pressure on prices. He adds that the company expects a moderation in increases in the coming quarters, without anticipating any significant changes in the overall market trend.
