Prices rise 2.6% in the first quarter, the largest quarterly increase in two years
By Mas Property
on Thu Jun 20 2024
The National Institute of Statistics (INE) has published the Housing Price Index (IPV): the price of free housing rose 6.3% year-on-year in the first quarter, a rate 2.1 points higher than that of the previous quarter.
The National Institute of Statistics (INE) has published the Housing Price Index (IPV): the price of free housing rose 6.3% year-on-year in the first quarter, a rate 2.1 points higher than that of the previous quarter and the highest since the summer of 2022, when it increased by 7.6%.
By type of housing, the annual rate of new housing rose 10.1% year-on-year between January and March, a rate 2.6 points higher than that of the previous quarter and the highest since the third quarter of 2023, when it rose by eleven%. For its part, the variation of second-hand increased by 5.7% in the first quarter compared to the same period in 2022, more than two points above what it did in the previous quarter and its largest rebound since summer 2022.
The quarterly variation of the general IPV in the first quarter is 2.6%, its largest quarterly increase in two years.
By type of housing, the price of used housing grew by 2.2%, compared to the decline of 1% in the previous quarter, while new housing increased its price by 5.5%, in contrast to the drop of 1. 4% experienced between October and December 2023.
Data that seem to reaffirm those provided by the General Council of Notaries , which assures that there have been increases in sales, granting of loans and prices for three months. It seems that 2024 paints a better picture than the previous year, after a 2023 marked by the exhaustion of the sector.
Source: Hispanidad, June 2024.