What is the reference value of the home you are looking at?

What reference prices does a Spanish home have?

Four, each measuring something different: the Ministry of Housing's average appraised value per square metre, every quarter; the completed-sale price before a notary, in the Portal Estadístico del Notariado; SERPAVI's reference rent; and the Catastro reference value, a tax value for each property that has been the base for ITP, the purchase tax, since 2022.

The appraised value (valor tasado) is the average of home valuations per square metre. The notarial price is the price at which sales are actually completed before a notary, published by the Portal Estadístico del Notariado (the Spanish notaries' statistics portal). The reference rent is what people pay to rent similar homes in the area. And the Catastro reference value (valor de referencia) is a tax value, calculated for each property.

None of the four is the price of your flat. They help you place the asking price: if it is well above all of them, find out why (renovation, views, floor, parking) before making an offer. If it is below, find out what you might be missing.

What is the Ministry of Housing's appraised value?

It is the average value per square metre of the homes appraised each quarter, according to the Ministry of Housing and Urban Agenda's appraised housing value statistics. It is published by province and, for large municipalities, by municipality, and separates homes up to 5 years old from those over 5, the relevant figure for a resale flat.

The Housing Appraised Value Statistics are produced by the Spanish Ministry of Housing and Urban Agenda from the homes valued each quarter. They give the average value per square metre of open-market housing by province and, in larger towns, by municipality, and separate homes up to five years old from older ones.

For a resale flat, the useful reference is the one for homes over five years old in its province or municipality. The change over one year and over five years tells you whether the area is rising, falling or flat, which matters both when buying and when you think about selling later.

What is SERPAVI's reference rent?

It is Spain's official benchmark for what is paid to rent a main home in an area, published by census section, district and municipality. The Ministry of Housing produces it with the Tax Agency from what landlords declare: over 41.2 million records from 2011 to 2024, according to its March 2026 methodology.

The State Rental Price Reference System was created by Royal Decree-law 7/2019 and the 2023 Housing Law (Ley 12/2023). The Ministry of Housing builds it with the Spanish Tax Agency and the Navarre and Basque statistics institutes from what landlords declare for renting out main homes: over 41.2 million records from 2011 to 2024, according to its March 2026 methodology.

It is published by census section, the smallest census unit, by district and by municipality. It is useful if you plan to let the flat, or to compare what you would pay on a mortgage with the cost of renting something similar in the same area.

The Catastro reference value and the purchase tax

Since 1 January 2022, the reference value set by the Catastro has been the minimum base for Property Transfer Tax (ITP) on resale homes. Under article 10 of the tax law, you pay on the price in the deed if it is higher and, if not, on the reference value; each region sets the rate.

The reference value is set by Spain's Directorate-General for the Cadastre from an analysis of the prices of all sales made before a notary. It starts from average value modules set each year, and a reduction factor is applied so that it does not exceed market value.

Since 1 January 2022 it has been the tax base for Property Transfer Tax (ITP, Impuesto sobre Transmisiones Patrimoniales), the tax paid on resale homes, and for inheritance and gift tax. Under article 10 of the tax law, if the price in the deed is higher than the reference value, you pay on the price; if it is lower, you pay on the reference value. Each region sets the rate.

It can be looked up on the Catastro's online office (Sede Electrónica) with Spanish electronic ID: an electronic DNI, a digital certificate or Cl@ve. As it is tax data for each property, the report does not show it: ask the seller, or your lawyer or gestor, before signing the arras (the deposit contract).

Buying costs to add on

On top of the price come the ITP of your region, the notary and the land registry and, where applicable, a gestor (administrative agent) and mortgage costs. Notary and registry fees follow official scales that depend on the value of the purchase.

The report calculates orientative minimum costs (the province's ITP, notary and registry, each with its rule) on an estimate made from the appraised value per square metre and the floor area in the Catastro. If you agree a different price, the costs change: redo the sums with your bank or gestor. This is not tax advice.

How HOUSINGFAX checks it: check 07

Check 07 of the report answers “What is its reference value?”. It brings together the Ministry of Housing's appraised value for the province, for resale homes and, where published, for the municipality, with its change over one and five years; the SERPAVI reference rent for the census section, with the district and municipality as context; an orientative estimate for the home's floor area; the minimum buying costs; and a link to the Portal Estadístico del Notariado for completed-sale prices in your postcode.

Start with the free report: it shows the check with your home's real data and the key information blurred. The essential report costs €11 and the complete report, which adds the recorded building condition, €19. That is 22 checks on official sources, as a PDF in a few minutes, with a single payment and no account. It is not a valuation: the report does not replace a technical inspection of the building or the bank's valuation.

How to use these references to negotiate

Compare the asking price per square metre with the appraised value for resale homes in the municipality or province, and look at the trend. Then add the costs and check the Catastro reference value to know the base on which you will pay the tax.

With those figures and the rest of the report (building condition, energy certificate, flood zone) you will have sourced arguments for your offer. The nota simple (land registry extract) tells you who owns the property; HOUSINGFAX tells you what state the building is in.