Extreme heat is driving up property prices in Spain’s cooler northern regions – new study
- Date: Wed, Nov 5, 2025
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In August 2025, Spain suffered its worst heatwave since records began. It reinforced the fact that climate change is no longer a distant threat – it is real and present, and is directly impacting our cities, our health… and property prices.
Our recent study offers an eye-opening look at how increasing temperatures are impacting Spain’s property markets, and transforming the value of housing.
Although the study centres on Spain, the country’s striking climate diversity positions it as a bellwether for internal climate migration. Its eastern, southern, and inland regions experience hot, predominantly dry conditions, while the northern coast enjoys a markedly cooler Atlantic climate. Unlike international migration, people relocating within Spain face few legal or bureaucratic barriers – provided, of course, they can afford to do so…
Read the full article in The Conversation.
This article is based on the publication, Hot Property: A Spatial Analysis of Temperature and Housing Prices in Spain, by Adrian Fernandez-Perez, University College Dublin (UCD) - Department of Banking & Finance; Marta Gómez-Puig, University of Barcelona - Department of Economic Theory; Simon Sosvilla-Rivero, UCM Institute for Economic Analysis.
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