Ranking Spain's Most and Least Expensive Cities for Property Buyers in 2023

Spain’s 2023 property market had a surprise at the top: Palma’s median home price hit €750,000, but the real standout was San Sebastián, where the median price per square metre climbed to €6,666 — the highest in the dataset. That kind of gap shows just how sharply Spain’s urban housing market splits between premium coastal cities and more affordable regional centres.

At the value end, Sevilla and Zaragoza both came in at a median of €229,000, while Valencia offered the lowest median price per square metre at just €1,923. That’s less than half of Spain’s national average of €4,165 per m², making it a very different proposition from Madrid or Palma.

The big takeaway? In Spain, “the market” doesn’t really exist as one single story. Buyers chasing lifestyle and prestige are paying a steep premium in places like San Sebastián, Palma and Madrid, while those prioritizing space and affordability still have solid options in cities like Valencia, Sevilla and Zaragoza.

Read the full analysis with interactive charts and district-level data on Realty Pulse