INE House Prices Q1 2026: +12.9% YoY Across Spain, +13.5% Resale

Segment	Q1 2026 YoY change	Direction
Total IPV (national)	+12.9%	Strongest reading since H2 2024
New build	+9.1%	Cooling slightly from late 2025
Second-hand (resale)	+13.5%	Re-accelerating
National median listing €/m²	€2,795 (May 2026)	+16.9% YoY listing data

INE's IPV is calculated from registered transactions (escrituras públicas), so it reflects closing prices rather than asking prices. The 12.9% headline means actual transactions closed at materially higher prices than a year earlier across the country.

Where Costa Blanca sits inside the national pattern

The national IPV does not break out Costa Blanca specifically but Alicante province data is included in the broader Comunidad Valenciana subset. Comunidad Valenciana posted +11.4% Q1 YoY, slightly below the national figure but close enough to confirm the broader pattern.

In practice on the ground:

• Torrevieja: entry-tier 2-bed apartments that traded at €130,000 in Q1 2025 now list at €148,000-€155,000. A €18,000-€25,000 swing in 12 months on the same stock category.
• Calpe: 2-bed apartments under €300k were available 12 months ago; the same units now list €330k-€380k.
• Denia: mid-tier 2-bed apartments hit €325,000-€350,000 from €280,000-€295,000 a year earlier.
• Altea Hills: entry-tier bungalows around €350,000 (where they were €310,000-€320,000 12 months ago).

What this means for buyers planning 2026 entry

Three working interpretations from the IPV data:

1. Waiting six more months is unlikely to cheapen the market

Resale prices accelerated quarter-over-quarter in Q1 2026, not slowed. Bank of Spain forecasts continued price growth through 2026 with deceleration only beginning H1 2027. A buyer who waits to "see if prices drop" will most likely pay more.

2. Mortgage timing matters more than ever

Spanish non-resident mortgage rates sit at 3.4-4.6% fixed in mid-2026. ECB held the deposit rate steady through Q2 2026. If you finance, locking in a 25-year fixed rate now ahead of any 2027 ECB hike protects against both price rises and rate rises.

3. Costa Blanca entry-tier brackets are running tight

The stock at the €120k-€180k bracket sells faster than 12 months ago. Time-to-sale on a well-photographed Torrevieja 2-bed apartment in this band runs 4-7 weeks in 2026, down from 8-12 weeks in early 2025.

Concrete entry points in our current catalog

If you are entering at the cheapest brackets where prices moved most:

• WES-18039-rev - 2 Bedroom Torrevieja Apartment, 59 m², €129,900 - one of the few sub-€130k 2-beds left in central Torrevieja
• WG-14 - Torrevieja Apartment, 42 m², €155,000 ★ featured - own-stock, fresh listing

For wider browsing: 111 active Torrevieja sale listings covering the bands that moved most in the Q1 IPV reading.

What we are watching for Q2 2026

INE publishes Q2 2026 IPV approximately 8 September 2026. Three signals we will monitor:

1. Whether second-hand growth re-accelerates above +13.5% (would confirm Costa Blanca asking-prices justified)
2. Comunidad Valenciana vs national gap (currently 1.5 pts behind national, would widen if coastal Spain underperforms)
3. New-build vs resale gap (currently 4.4 pts; convergence would signal new-build catching up)

For context-setting see our investment cornerstone and the Q1 2026 rental yields breakdown.

By Oleg Fesechko, founder of Wesna Group.