The Andalusian real estate market has reached a new milestone, with the average appraised price of free housing hitting 1,924.9 euros per square meter in the first quarter of the year. This figure not only represents a historic high for the data series but also significantly surpasses the peak reached during the previous real estate bubble, specifically in the second quarter of 2008, when the value stood at 1,805 euros per square meter. Currently, property valuations in the autonomous community are 6.65% higher than that maximum.
The upward trend has consolidated over the past year, with a 13.3% increase in the appraised price of housing in Andalusia, a figure slightly lower than the national average of 13.9%. So far this year, the increase has been 3.7% compared to the end of 2025.
It is important to note that this data is based on appraised value, a metric that tends to be conservative as it is used for mortgage approvals. Actual transactions, according to the College of Registrars, are at a slightly higher level, with 1,971 euros per square meter in Andalusia. The evolution of the appraised value confirms that not only Andalusia but also other regions such as Balearic Islands, Canary Islands, Catalonia, Valencian Community, Galicia, Navarre, Basque Country, and Madrid (which exceeds 4,000 euros/m²) have surpassed the peaks of the 2000s bubble. The Spanish average, at 2,315 euros, has also crossed this barrier.
The disparity in prices is accentuated within Andalusia itself. Málaga leads the provincial ranking, with an average price of 2,988 euros per square meter, a 27% increase above its 2008 peak. This province ranks as the fifth most expensive in Spain. Other provinces such as Granada (1,535 euros), Seville (1,839 euros), and Cádiz (1,988.3 euros) have also surpassed their historical peaks, albeit with smaller increases.
Conversely, provinces such as Almería (1,454.3 euros), Córdoba (1,285.7 euros), Huelva (1,480 euros), and Jaén (898 euros) have not yet reached the bubble's maximums. Jaén, the most affordable province, is 21.2% below its 2008 peak.
In year-on-year terms, Granada (+14.9%), Málaga (+14.2%), and Cádiz (+13.4%) show the largest increases. Jaén (+8.8%) and Córdoba (+10.7%) record the most moderate, though significant, rises. Almería (11.3%) and Seville (12.8%) are in an intermediate position.
