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Property prices in Galicia are going up. The region saw a 22.31% increase in property sales in 2024, making it the second-highest growth rate in Spain after Ceuta. This surge reflects strong market momentum that continues into 2025, with property prices in major cities reaching new heights and coastal areas experiencing unprecedented international demand.
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Galicia's property market is experiencing significant growth in mid-2025, with average prices reaching €1,958/m² and strong year-over-year increases across all property types.
The coastal areas, particularly A Coruña and Pontevedra provinces, are leading the price surge while international buyers are driving luxury market demand.
| Metric | Current Value (2025) | Year-over-Year Change |
|---|---|---|
| Average Price (All Properties) | €1,958/m² | +5.8% (Apartments), +5.7% (Houses) |
| Most Expensive City | A Coruña (€2,156/m²) | Leading regional growth |
| Sales Volume Increase | 22.31% (2024 vs 2023) | 2nd highest in Spain |
| International Luxury Buyers | 72% of luxury market | Primarily from America & Europe |
| New Build Share (2025) | 30% of all transactions | Strong construction activity |
| Coastal Property Premium | €2,550/m² (second homes) | +6.3% increase in 2023 |
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
What are the current average property prices in Galicia as of mid-2025?
As of May 2025, the average price per square meter for residential property in Galicia stands at €1,958, representing one of the more affordable regions in Spain compared to the national average of €2,635/m².
Apartments in Galicia currently average €2,048/m², while houses average €1,204/m². For new-build homes specifically, the average price reached €1,882/m² at the end of 2024, marking a historic high for the region.
The price variation across provinces is significant, with Pontevedra commanding the highest prices at €2,436/m² and A Coruña following at €1,897/m². Within major cities, A Coruña leads with €2,156/m², followed by Santiago de Compostela at €1,880/m² and Vigo at €1,795/m².
These figures reflect Galicia's position as an affordable yet increasingly attractive market, particularly when compared to Spain's more expensive coastal regions like the Balearic Islands (€5,028/m²) or Madrid (€4,817/m²).
How much have property prices increased in Galicia over the past year?
Galicia has experienced substantial price growth over the past year, with residential property prices rising by approximately 5.8% for apartments and 5.7% for houses between 2024 and 2025.
The annual variation rate for all housing types in the last quarter of 2024 was 10.5%, up from 7.3% in the previous year, indicating accelerating growth momentum. New-build homes specifically increased by 3.6% year-on-year at the end of 2024.
The region has consolidated four consecutive quarters of price increases, demonstrating sustained recovery and attractiveness for investment. Santiago de Compostela showed particularly strong growth at +5.4% year-on-year, while the overall market experienced one of Spain's strongest performance metrics.
This price acceleration places Galicia among Spain's fastest-growing regional markets, reflecting both increased domestic demand and significant international interest in the region's property offerings.
Which cities in Galicia are experiencing the highest property price growth?
A Coruña and Pontevedra provinces are leading Galicia's property price surge, with these areas representing the most expensive and dynamic markets in the region.
A Coruña city specifically commands the highest prices at €2,156/m², benefiting from infrastructure development and urban renewal projects. The city's Los Cantones neighborhood has reached premium levels of €3,700 per square meter for renovated properties.
| City/Area | Price per m² | Key Growth Drivers |
|---|---|---|
| A Coruña | €2,156/m² | Urban renewal, renewable energy projects, tech sector growth |
| Santiago de Compostela | €1,880/m² (+5.4%) | Camino tourism, student market, cultural significance |
| Vigo | €1,795/m² | Tech hub development, largest city status, industrial growth |
| Pontevedra (Province) | €2,436/m² | Coastal premium, international buyer interest, Rías Baixas appeal |
| Santiago Ensanche | €3,000/m² | Premium urban district, modern amenities, central location |
Vigo is particularly benefiting from its emergence as a tech hub, with 27,000 new tech jobs expected by 2025, driving housing demand in technology-focused areas. The Rías Baixas coastal region, especially around Pontevedra and Vigo, is experiencing strong international buyer interest.
These urban centers are attracting both residents and businesses through infrastructure development, creating a tightening housing market with naturally rising prices.
What property types are seeing the biggest price increases in Galicia?
Coastal villas and luxury properties are experiencing the most significant price surges in Galicia, driven by high international demand and limited coastal supply.
Luxury coastal properties are commanding prices between €400,000 to €800,000, with international buyers accounting for 72% of luxury home purchases in the region. Traditional Galician-style properties with large plots (3,000 m² to two hectares) are particularly sought after.
Urban apartments are seeing strong price growth due to increased urban migration and job opportunities, especially in A Coruña, Santiago, and Vigo. Rental prices have climbed by 9.93% from December 2023 to October 2024, reflecting tight urban market conditions.
Rural homes showed a 10% increase in demand during 2024, driven by remote work trends and climate migration, though price growth in remote rural areas remains limited by ongoing depopulation in interior provinces like Lugo and Ourense.
New-build properties represent 30% of expected transactions in 2025, with construction activity up 17.7% in Galicia during 2024, indicating strong developer confidence in market conditions.
What are the property price forecasts for Galicia in 2026?
Property prices in Galicia are expected to continue their upward trajectory in 2026, with moderate but sustained growth projected across the region.
Coastal and urban areas are forecast to maintain strong price appreciation, driven by continued tourism growth, international demand, and infrastructure investment. Spain's overall property market is projected to grow by 4% in 2025, with Galicia likely matching or slightly exceeding this rate.
The luxury coastal segment, particularly in the Rías Baixas region, is expected to remain robust through 2026, supported by international buyers seeking climate-safe investments. Urban centers like A Coruña, Santiago, and Vigo should see continued price growth driven by tech sector expansion and urbanization trends.
New construction is expected to play an increasingly important role, with projections suggesting 30% of properties sold in 2025-2026 will be new builds. This supply increase may moderate price growth in some segments while maintaining overall market strength.
However, rural interior areas may continue to face demographic challenges that could limit price appreciation, creating a divergent market between coastal/urban and interior rural properties.
How do current mortgage rates affect Galicia's property market?
The European Central Bank's four rate cuts in 2024, totaling 100 basis points, have significantly improved mortgage affordability and stimulated property demand across Galicia.
Lower interest rates have led to increased mortgage approvals throughout Spain, with home sales jumping over 50% year-on-year in October 2024. This improved financing accessibility has directly contributed to Galicia's strong 22.31% increase in property sales during 2024.
The housing price index rose by 8.1% in Q3 2024 across Spain, partly driven by these more favorable lending conditions. First-time buyers and property investors are finding it easier to enter the Galician market due to reduced borrowing costs.
Banks are actively promoting mortgage products, with advertisements for mortgages and personal loans now prominently displayed, indicating institutional confidence in the property market recovery.
This monetary policy environment is expected to continue supporting property demand in Galicia throughout 2025, though any future rate increases could moderate this growth momentum.
What impact is international demand having on Galicia's property prices?
International demand is having a transformative impact on Galicia's property market, particularly in the luxury and coastal segments where foreign buyers dominate purchasing activity.
International buyers account for 72% of luxury home purchases in Galicia, compared to just 28% from Spanish buyers. The main international buyers come from America and Europe, especially Germany, France, and Holland.
Foreign property demand in Galicia surged by 22.5% in 2024, reflecting the region's growing appeal as a climate refuge and lifestyle destination. International buyers typically have higher budgets, often extending beyond €1 million, while Spanish buyers tend to limit themselves to that threshold.
The appeal stems from Galicia's combination of affordability compared to other European coastal regions, stunning landscapes, pleasant climate, and cultural richness. Coastal properties within 20 kilometers of the sea are particularly sought after by international buyers.
This international interest is driving up prices in premium segments and coastal areas, while also spurring the growth of real estate agencies specializing in international clients, further institutionalizing this market segment.
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How do Galicia's property prices compare to other Spanish regions?
Galicia remains one of Spain's more affordable regions for property purchases, with average prices significantly below the national average and major metropolitan areas.
At €1,958/m², Galicia's average property prices are 26% below Spain's national average of €2,635/m². This positions the region as highly competitive compared to premium destinations like the Balearic Islands (€5,028/m²) or Madrid (€4,817/m²).
| Region | Avg. Price (€/m²) | Comparison to Galicia |
|---|---|---|
| Galicia | €1,958 | Base comparison |
| Spain National Average | €2,635 | 35% more expensive |
| Balearic Islands | €5,028 | 157% more expensive |
| Madrid | €4,817 | 146% more expensive |
| Barcelona | €3,937 | 101% more expensive |
| Valencia | €2,400 (est.) | 23% more expensive |
Despite this affordability advantage, Galicia recorded strong house price growth of 10.5% in 2024, placing it among Spain's faster-growing markets. The region offers exceptional value for money while maintaining growth momentum.
Compared to neighboring Portugal's northern regions, Galicia's prices are competitive, with Porto and northern Portugal ranging from €1,500-€2,500/m², though Lisbon and the Algarve command significantly higher prices.
We made this infographic to show you how property prices in Spain compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It's an easy way to spot where you might get the best value for your money. We hope you like it.
What government policies are affecting Galicia's property market in 2025?
Several significant government policies implemented in 2025 are actively shaping Galicia's property market, creating both opportunities and challenges for buyers and investors.
Galicia introduced a 75% reduction in stamp duty for purchases, construction, and rehabilitation of buildings destined for rental use in 2025. Additionally, the region reduced transfer tax for certain residential conversions, making investment properties more attractive.
The 2025 regional budget includes new subsidies specifically designed to help young people become homeowners, while infrastructure spending increased by 5% to support economic growth and housing supply development.
At the national level, Spain formally eliminated the Golden Visa program for real estate investments in April 2025, though this affects primarily high-end international buyers. More significantly, Spain is proposing a 100% tax on property purchases by non-EU buyers, which could substantially impact foreign demand if enacted.
A Coruña is applying to become a "tensioned market zone," which would allow for rent control measures, potentially affecting rental market dynamics in the region's largest urban center.
It's something we develop in our Spain property pack.
How is tourism affecting Galicia's real estate market?
Tourism is playing an increasingly important role in driving Galicia's real estate market, particularly in coastal areas and cities along the Camino de Santiago route.
Galicia experienced a record-breaking surge in international tourism during 2023, with over 2 million travelers visiting and spending 3.6 million nights in local accommodations. International visitors represented 30% of tourism demand, boosting interest in short-term rental properties.
The Camino de Santiago specifically acts as a magnet for tourists, creating consistent demand for short-term rentals in Santiago de Compostela and along pilgrimage routes. This religious and cultural tourism provides year-round demand stability for property investors.
Coastal tourism, particularly in the Rías Baixas region, is driving demand for second homes and vacation rentals. The tourism sector's profitability jumped by 8.6% in September 2024, reflecting a thriving market that supports rental property investments.
Wellness tourism around Galicia's thermal spas is creating new opportunities, with properties near these facilities becoming hot commodities as government investment and international interest combine to reshape local real estate landscapes.
Even though housing supply has slightly increased along the coast, tourism demand is outpacing new construction, making existing waterfront properties increasingly valuable assets for investors.
What role is the tech sector playing in Galicia's property demand?
The technology sector is emerging as a major driver of property demand in Galicia, particularly in urban centers like Vigo, A Coruña, and Santiago de Compostela.
Galicia's tech sector is experiencing explosive growth, with 27,000 new tech jobs expected by 2025. This employment surge is attracting technology professionals from across Spain and Europe, creating substantial housing demand in tech-focused areas.
Vigo is positioning itself as a regional tech hub, with companies establishing operations that require both office space and housing for employees. As tech professionals relocate to the city, demand for urban apartments and modern housing solutions is intensifying.
The tech sector growth is contributing to urbanization trends, with young professionals seeking housing in cities that offer both career opportunities and quality of life. This demographic shift is particularly impactful in driving rental market growth and modern housing demand.
Infrastructure development supporting the tech sector, including improved connectivity and business facilities, is making Galician cities more attractive for both technology companies and their employees, creating a positive feedback loop for property demand.
The combination of job creation, higher salaries in the tech sector, and improved urban amenities is positioning Galicia as an increasingly competitive location for talent, further supporting property market growth.
How do demographics affect Galicia's property market trends?
Demographic trends are creating a complex and divergent property market in Galicia, with stark differences between urban and rural areas driving distinct pricing patterns.
Urban areas are experiencing population growth and demographic vitality, with cities like A Coruña, Santiago, and Vigo attracting young professionals, students, and workers seeking career opportunities. This urbanization trend is driving up housing demand and prices in metropolitan areas.
Rural interior areas, particularly in Lugo and Ourense provinces, face ongoing challenges from aging populations and youth emigration. Young people are leaving these areas for cities or other countries, creating an oversupply of rural properties and limiting price growth potential.
The rural depopulation trend is creating opportunities for buyers seeking larger properties at lower prices, but also challenges for long-term investment returns in remote areas. Properties in these regions may face continued value stagnation unless demographic trends reverse.
Climate migration is emerging as a new demographic factor, with people from warmer regions of Spain and other countries seeking Galicia's milder climate and environmental advantages. This trend particularly benefits coastal areas and creates new demand patterns.
International demographic trends, especially among retirees and remote workers, are adding a new layer of demand that helps offset some rural challenges while intensifying competition in desirable coastal and urban locations.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Property prices in Galicia are definitely going up as we reach mid-2025. The region experienced a 22.31% increase in property sales in 2024, marking the second-highest growth rate in Spain, while average prices reached €1,958/m² with strong year-over-year increases of 5.8% for apartments and 5.7% for houses.
The growth is driven by multiple converging factors: international buyers dominating 72% of the luxury market, 27,000 new tech jobs expected by 2025, record tourism numbers, improved mortgage conditions from ECB rate cuts, and significant infrastructure investment. Coastal areas and major cities like A Coruña (€2,156/m²) and Santiago de Compostela are leading this price surge.
It's something we develop in our Spain property pack.
Sources
- Spain's Residential Property Market Analysis 2025
- 13 strong forecasts for real estate in Galicia in 2025
- Your Guide to Buying Property in Galicia in 2025
- Galicia: real estate market trend in 2025
- Spanish Property Market 2025: Prices, trends & opportunities
- Spanish real estate market in 2025: trends & predictions
- Property prices and rent to rise faster than sales in Spain in 2025
- 14 strong reasons to buy property in Galicia in 2025