Property prices up in Spain
The latest Spanish housing data is out and some of the results may surprise you.
Spanish property prices have bucked the trend seen in many other European countries and have grown 2.1% in the second quarter of 2023, the highest quarterly increase since quarter one, 2022. All regions in Spain saw growth over the second quarter according to the latest Housing Price Index* figures released today by the Instituto Nacional de Estadistica.
Andalucia which includes the popular towns or Seville, Cordoba, Granada and Malaga, had the highest growth of any autonomous community for established homes at 3.2% for the quarter. Madrid had the highest growth for new housing at 3%.
Year-on-year figures,while still positive, are a little more subdued, with the national annual increase sitting at 3.6%. The largest price increases compared to the previous year occurred in the Foral Community of Navarra, Cantabria, Andalucia and the Canary Islands, with increases of 5.6%, 4.7%, 4.5% and 4.5%, respectively.
Check out all of the Spanish Housing Price Index figures for the complete picture.
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*The Housing Price Index has been running since 2015 and measures theevolution of the sale prices of homes, over time. The information used in the index comes fromthe databases on deeded homes provided by the General Council of Notaries, fromwhich the transaction prices of the homes are obtained.