Housing prices in Spain have risen sharply in the first quarter of 2025, with increases doubling the average growth rates observed across the European Union and the eurozone. Spain recorded a 12.3% rise in housing costs, making it the third-highest increase in the eurozone after Portugal and Croatia. Rental prices in Spain have also seen sustained growth during the first half of 2025, with the average rent reaching a record 1,155 euros per month in the second quarter, driven largely by conditions in Barcelona. The city faces a severe housing shortage, with the supply of available rental properties decreasing by 48,000 units over two years and 144 tenants competing for each available unit. Additionally, the market for used homes in Spain grew by 7.5% in June, with demand quadrupling supply in high-pressure areas. The tourism rental sector remains active, as 40% of apartments that consumer authorities requested to be removed from platforms like Booking.com have returned to the market. Meanwhile, in Ireland, house prices increased by 7% annually, with a 7.9% rise outside Dublin and 5.1% within the capital. Northern Ireland experienced the highest UK regional growth in house prices at 9.6% over the past year.