House prices are up 22% in Murcia, but most buyers aren't borrowing

More than half of homes bought in the Region were paid for without a mortgage despite the rising prices

Buying a home in the Region of Murcia is becoming more expensive every week, it seems, but surprisingly new data shows that most people buying a property aren't taking out a mortgage.

The latest figures from Spain's General Council of Notaries show that just 44% of homes bought in the Region during June were financed with a mortgage. In other words, 56% of purchases were made without one.

For those buyers who did take out a mortgage, it covered an average of 76.5% of the purchase price.

The figures make for an interesting picture of the Murcia property market. While the number of sales fell, prices continued to climb sharply. There were 2,583 homes sold across the Region in June, 9% fewer than during the same month last year. At the same time, the average price reached €1,457 per square metre, an increase of 22.1% in just 12 months.

That was the second biggest increase recorded in any Spanish region during the month. Only Cantabria saw a larger rise, at 41.6%.

The number of new mortgages for home purchases actually went up by 7.6%, despite the fall in overall sales. The homes being sold were also slightly smaller on average, with the average surface area down 2.7% year on year.

The Spanish housing problem

The figures from Murcia come against a backdrop of rising property prices and a shortage of homes across much of Spain. Nationally, 67,529 homes were sold in June, a 4% fall compared with June 2025. There were 36,249 new mortgages for home purchases, a much smaller increase of 0.2%.

Prices also continued to rise across Spain, although the increase was nowhere near as large as in Murcia. The average price reached €2,114 per square metre, up 8.8% year on year, while the average new mortgage increased by 7.3%.

A separate report from OBS Business School estimates that Spain's housing shortage could take at least another eight years to resolve. The report says around 1.2 million households have been created since 2021, while only 474,000 homes have been completed. That leaves a shortfall of around 740,000 homes. Construction is struggling to keep up in areas where demand is highest, while new homes are being built in places where they are less needed.

With demand continuing to outstrip supply in some areas, property prices in Murcia are likely to remain under pressure.

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