Aragón’s real estate market moderated between July and September 2026, with 4,363 home sales, down 6.8% from the previous quarter. Despite the decline, transactions remain close to their highest levels since 2008, while prices continue to rise.
Home sales in Aragón decline but remain at elevated levels
The 4,363 transactions recorded in the third quarter marked the lowest quarterly figure of the past eight quarters. Activity fell 4.4% year over year, although the total for the past 12 months reached 18,325 home sales, a volume close to the highs of Aragón’s residential market since 2008.
The cumulative figure represents a negative year-over-year change of 0.9%, the first recorded in recent years. Aragón posted 13.23 home sales per 1,000 inhabitants, in an environment where demand continues to be supported by population and household growth.
The region’s population reached 1,389,298, after increasing by more than 20,000 people over one year, primarily due to growth in the foreign-born population. The number of households stood at 579,154, nearly 13,300 more than a year earlier, while inflation, Euribor and the cumulative rise in home prices are making housing less affordable.
Home prices in Aragón reach their highest level since 2011
The average home price in Aragón rose to €1,865 per square meter, its highest level since 2011. Prices increased 1.4% quarter over quarter and 10.6% year over year, albeit at a slower pace than in the previous quarter.
Existing homes led the gains, with an average price of €1,782 per square meter. This segment rose 2.3% during the quarter and 12.4% over the year. New homes stood at €2,199 per square meter, after declining 2% quarter over quarter, but posting a year-over-year increase of 3.8%.
New construction remained strong: the first three quarters of 2026 recorded the same number of sales as all of 2024. The forecast points to the year ending with more than 3,500 new homes sold, despite a 5.7% increase in construction costs and an 8% rise in labor costs.
Mortgage lending exceeds €1.76 billion as rents rise 9.6% year over year
Over the past 12 months, 13,137 mortgages on homes were completed, equivalent to 71.7% of home sales. Annual mortgage financing exceeded €1.76 billion, up 4% from a year earlier, with an average rate on new loans of 3.09%.
The average monthly mortgage payment reached €649, while the mortgage burden stood at 28.4% of wage costs. Euribor rose to 3.25% and inflation reached 4.4% in September, while year-over-year regional GDP growth moderated to 2.2% and the unemployment rate rose to 9.2%.
In the rental market, the average asking price reached €11.2 per square meter per month in September, close to the historic highs recorded during the summer. Prices rose 9.6% year over year, in a market marked by strong demand pressure on available supply.
The report also shows activity in other real estate assets: 418 sales of commercial premises, 168 industrial warehouse sales, 460 storage-unit sales and 1,696 garage sales were recorded during the quarter. The data come from the third-quarter 2026 Aragón Real Estate Market Report, presented on November 9 by the Real Estate Market Chair at the University of Zaragoza.
