Palencia province Property Prices, Rents & Rental Yields

About Palencia province

Palencia province blends a compact historic core with broad Castilian landscapes, and that mix shapes a steady, practical housing backdrop. Its towns and surrounding areas offer an understated provincial setting with connections to the wider north-central Spain market.

September 2026 points to a clear tension in Palencia province: prices are still rising, but rental returns are not keeping pace with the broader revaluation. The average apartment sale price stands at €145,000, unchanged month on month, while the average rent is €700, also flat on the month. Even so, the average price per square metre has moved up 1.0% month on month to €1,490, signalling that the market is still marking property values higher at the unit level.

Year on year, the upward trend is more visible. The average sale price is up 9.8%, the average rent is up 11.6%, and the average price per square metre has climbed 13.2%. Against that backdrop, the reported yield of 6.78% suggests income is still compensating for some of the capital growth, but the balance is getting tighter as values continue to firm. For investors focusing on apartments, the month reads less like a sudden shift and more like a market that is steadily repricing while preserving a moderate yield profile.