Madrid or Barcelona? Where is it cheaper to buy a home, according to notarial data

PUBLISHED ON

Octubre 28, 2025

CATEGORY

Real Estate

Buying a home in Spain continues to be one of the most important financial decisions for many individuals, families, and investors. Among the major capitals of our country, Madrid and Barcelona account for a large part of real estate activity, but they present different realities in terms of prices, demand, trends, and opportunities.


Real price per square meter: Madrid, more expensive than Barcelona

According to the latest real estate statistics from the Notarial Statistics Portal (updated in August 2025), the average price of a home registered in Madrid is €4,769/m², while in Barcelona it is €4,416/m². Despite being a similar price, this represents a difference of €353 per square meter, making the Spanish capital one of the most expensive cities in the country to buy a home.

These values reflect real prices based on sales authorized by a notary, which allows for much more objective decisions when buying or selling a property, compared to the indicative prices (based on supply/demand) that other types of platforms or portals usually show.


Historical evolution of housing prices

The evolution of housing prices in both cities shows a clear upward trend over the last 11 years (2014-2025). The average price per square meter in both cases has been consistently higher each year, with some slight variations and a small stagnation in 2020-2021, possibly due to the impact of the pandemic on real estate markets.

In the last year (September 2024 - August 2025), Madrid has experienced faster growth, driven by the economic recovery and high demand for housing both nationally and internationally. According to data provided by the Notarial Statistics Portal, the average purchase price in the capital stands at €431,538, with an average surface area of 90m².

Barcelona, on the other hand, has seen a somewhat more stable evolution, with moderate increases following the pandemic.

The average purchase price in Barcelona stands at €379,935, with an average surface area of 86m2.

Overall, notarial data show that Madrid leads the average annual increase, with Barcelona following closely behind.


Profile of the home buyer

The profile of the home buyer also varies between the two capitals:

In Madrid, the median age of purchase is 47. Domestic buyers predominate (85.15%), many of them for investment purposes or to purchase their first home, compared to international buyers (14.85%).

In Barcelona, the median age of purchase is 44, and the market has a stronger international component: 33.31% of transactions are linked to foreign buyers. The main motivation is usually purchase for own use or as a second home, combined with investment in tourist or temporary rentals. Domestic buyers account for 66.69% in this case.


Price distribution by area

A comparison by area confirms the internal diversity of both markets:

Madrid has the highest prices in the central districts, exceeding €11,000/m², and also in the northern axis (Salamanca, Chamartín, Retiro), with values above €7,000/m². The most affordable prices are found in expanding areas such as Carabanchel or Vallecas, with prices below €3,000/m².

Barcelona, on the other hand, combines high prices in Eixample and Sarrià-Sant Gervasi (over €6,000/m²) with opportunities in Nou Barris and Sant Andreu, where prices remain below €3,000/m².

This internal segmentation facilitates different investment and buying/selling strategies depending on budget and time horizon.

Notarial data: the most reliable source for understanding the market

Unlike property listing websites, notarial data is based on actual sale prices recorded in notarial deeds. This provides accurate real estate statistics, which are essential for analyzing the evolution of housing prices in Spain with rigor and transparency.