Business · Economy · 16 hrs ago
Spanish Home Prices Rose 3.6 Times Faster Than Wages in 13 Years
Spain’s CC OO union says home prices rose 108% from 2013 to 2026, while average wages rose 30%.
The union says that means homes became 3.6 times more expensive than wages grew over that period.
The gap was especially wide in Madrid, where home prices rose 142% and wages 34%; new rental contracts across Spain also became 37% more expensive from 2015 to 2024.
The union says costly business premises squeeze small firms, making it harder for new businesses to cover rent before they earn enough.
In 2023, the median annual rent for commercial space reached €52 per square metre, the highest level in the available series.
CC OO estimates that cutting housing costs by about 30% could help create up to 411,000 jobs; the figures are estimates, and no next steps are given.
A report by Spain’s CC OO union says home purchase prices rose 108% from 2013 to 2026, while average nominal wages rose 30%.
The union calculates that home prices increased 3.6 times faster than wages over that period.
The report says the gap was especially wide in Madrid, where home prices rose 142% and wages 34%.
CC OO says rents for new contracts increased 37% between 2015 and 2024.
The union also warns that higher commercial rents can reduce business profitability and make it harder for new businesses to survive.
- Who
- Spain’s CC OO union, which produced the report.
- What
- The report says home purchase prices rose 3.6 times faster than wages over 13 years.
- When
- From 2013 to 2026. The report was distributed on Friday, 23 October 2026.
- Where
- Spain.
- Why
- The union sought to quantify the economic effects of high housing prices, including their impact on workers and businesses.
This story does not have two clearly opposing sides.
The report identifies this as the starting year for its comparison of home prices and wages.
Rents for new contracts increased 37%, according to the report.
The median rent paid per square metre for commercial premises increased 5.8%.
The median rent paid per square metre for commercial premises increased 8.3%.
The median rent paid per square metre for commercial premises increased 4.5%, reaching a series high of €52 a year per square metre.
CC OO distributed its report on the economic effects of high property prices.
- Home prices
- Up 108% from 2013 to 2026
- Average nominal wages
- Up 30% from 2013 to 2026
- Madrid home prices
- Up 142% from 2013
- Madrid wages
- Up 34% from 2013
- New-contract rents
- Up 37% between 2015 and 2024
- Commercial rent median
- €52 per square metre per year in 2023
What people are saying
The rise in the purchase price of a home multiplies by 3.6 the rise in the wages that must pay for that home.
The increase in commercial premises rents not only reduces the profitability of small and medium-sized businesses, but also raises barriers to entry and increases the vulnerability of new business projects.