The Spanish residential market has entered a phase of consolidated tension, with a deterioration in housing accessibility in major urban centers. This situation occurs despite mortgage financing remaining stable, with average rates around 2.10% TIN, according to data from the second half of 2025 collected by iAhorro.
“"The market shows an enormous capacity for resilience, but prices do not correct. The real bottleneck is the price of the property, driven by a lack of supply that fails to meet demand."
Cities such as San Sebastián, Madrid, and Barcelona lead the inaccessibility ranking, with San Sebastián nearing 97.49 points out of 100. In this city, acquiring a 100-square-meter home requires a net monthly income of 5,642 euros, tripling the average net salary in Spain. Palma de Mallorca and Bilbao are also among the top five with the highest entry barriers.
Conversely, the interior of the peninsula maintains a more moderate market. Localities such as Cartagena, Jaén, Lleida, Elche, and Cuenca show very low tension levels. In Elche, for example, the salary needed to buy a home aligns more closely with the national average income, with mortgage payments in some cases not exceeding 400 euros per month.
“"The territorial gap is evident. We are not just talking about high prices, but about a financial effort that conditions the labor mobility and life projects of thousands of families."
iAhorro's analysis refutes the idea that a greater housing supply guarantees lower prices. In Barcelona, despite a relatively high supply, demand quickly absorbs properties, keeping prices inaccessible. Experts predict that 2026 will continue to be a challenge for property access if there is no significant and adapted increase in supply.
