In Catalonia, the housing market shows a sharp split between the Pyrenees and the provincial capitals. In the Val d'Aran, average prices reached €7,000 per square metre in 2025, while Lleida remained the most affordable Catalan capital at €1,443/m², according to Engel & Völkers.
The report said the rise in Val d'Aran was driven by limited land and tourist demand. Some properties sold for up to €11,000/m², with the area continuing to attract buyers looking for second or third homes.
Within the valley, Baqueira recorded the highest prices, averaging €7,000/m², up 7% from 2024, with maximums near €10,000/m². Naut Aran, excluding Baqueira, saw an 11% rise to €4,900/m², while Vielha rose 10% to an average of €3,900/m².
Engel & Völkers said 85% of buyers in the Val d'Aran are Spanish, while French and English buyers account for the remaining 15%. The firm also said mountain housing is increasingly seen as a secure asset, and that new high-end developments are changing the profile of luxury homes in the Pyrenees.
Lleida city, by contrast, remains mainly a residential market. Prices have also risen in neighbourhoods such as Cappont, Joc de la Bola and Ciutat Jardí, but the capital still stands out for affordability. The study said 95% of buyers in Lleida use a mortgage, compared with 40% of transactions in Aran completed with the buyer's own funds.
For more Catalonia housing coverage, see our news tag. The report also places the Pyrenees within a wider trend towards branded residences, homes developed with hotel companies or luxury brands and sold with services and amenities.
