Five autonomous communities have exceeded in 2025 the maximum purchase price reached during the years of the real estate bubble. These are Andalusia, the Balearic Islands, the Canary Islands, the Valencian Community and Madrid, which in July 2025 have the highest price in second-hand housing recorded since the Fotocasa Real Estate Index has records, now 20 years ago.
The Canary Islands have been setting price records and exceeding the bubble years of 2007 for more than two years.
Specifically, the price is now 47% above the years of the real estate boom.
In May 2007, the average price per square meter in the Canary Islands amounted to 2,155 euros, while now the average price is 3,157 euros.
The Balearic Islands have also been exceeding the maximum price of the bubble years for more than two consecutive years.
In fact, in July 2025 in the Balearic Islands the average price is 84% higher than the maximum reached in April 2007. At that time, the maximum price was 2,762 euros per square meter and now the maximum price is 5,069.
For its part, the Community of Madrid exceeds by 22% the maximum price reached in January 2007. At that time, the square meter in the capital was 3,970 euros and in July 2025 the average price is 4,858 euros.
Andalusia has recently exceeded the maximum price of April 2007 and in July 2025 it is 4% more expensive than in the real estate boom. In fact, buying a home in 2007 in Andalusia cost an average of €200,700, as the average price was 2,509 euros per square meter and in 2025 it amounts to 2,610.
In the case of the Valencian Community, it has recently exceeded the maximum price it reached in April 2007. In fact, it exceeds the price of that time by 0.2%, but it is the first time it has reached the figure of 2,436 euros per square meter. The previous maximum of 2007 was reached with 2,430 euros.
"As long as the supply does not increase, the price tension will remain. Probably, if the rate of increase is maintained, next year, all of Spain will reach maximum prices," explains María Matos, Director of Studies and spokesperson for Fotocasa.
Regarding the rest of the communities, they are still somewhat far from exceeding the maximum price of the real estate bubble. The community with the smallest difference between the current price and the maximum of 2007 is Galicia, which is -15% below the price of the boom years. It is followed by Cantabria, which is -18% below the maximum price, and Catalonia and the Basque Country, both of which are -20% below the maximum prices.
At the other extreme, Castilla-La Mancha, Aragon and La Rioja are very far from reaching maximums, being -43% and -42% below the price of 2007, respectively.
