aProperties Real Estate, 12 March 2024
In line with current trends in the real estate market, aProperties, brings to light the latest data from the National Statistics Institute (INE), revealing a 4.2% growth in house prices during the fourth quarter of 2023.
This report highlights a picture of moderation in the Spanish Real Estate market. The Housing Price Index (HPI) for the last quarter of 2023 shows a slight decrease of three tenths, setting the growth rate at 4.2%. This indicator, which monitors the quarterly evolution of house prices, provides a detailed view of fluctuations in the sector.
In terms of segmentation by type of housing, the report notes that the annual rate for new housing fell by 3.5 percentage points, still standing at a comfortable 7.5 per cent. On the other hand, the price of second-hand housing registered an increase of four tenths of a percentage point compared to the previous quarter, reaching 3.6%.
In terms of regions, all autonomous communities experienced annual increases in house prices. Andalusia led the growth with 5.3%, followed by the Comunidad Foral de Navarra with 4.7%, and both the Canary Islands and the Comunidad de Madrid with 4.5% each. Although some communities recorded growth below the national average of 4.2%, such as the Valencian Community (4.2%) and the Basque Country and La Rioja (both 3.9%), this generalised increase is an encouraging indicator of the dynamism of the high-value housing market in Spain.
This continuous increase in house prices underlines the importance of having specialised advice in the real estate sector, especially in the high-value housing segment. At aProperties, we are committed to providing our clients with accurate and strategic information to make informed decisions in today's real estate market.
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