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Property prices in Spain rose by 3.6 per cent in the period April to June this year
Property

Property prices in Spain rose by 3.6 per cent in the period April to June this year

The statistics show the price of new housing rose by 7% year-on-year in the second quarter of the year

Amparo Estrada

Madrid

Friday, 8 September 2023

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Home prices increased by 3.6% in the second quarter (April to June) of this year in Spain compared to the same period in 2022. This was one tenth of a percentage point more than the increase recorded in the first quarter, which was 3.5%.

This upturn was driven by new-build homes, according to the official data published on Thursday this week. House prices have been rising in Spain each quarter since 2014.

New housing increased in price the most as a result of higher material costs. The statistics show the price of new housing rose by 7% year-on-year in the second quarter of the year, its highest rise since the second quarter of 2022, when it increased by 8.8% year-on-year.

Meanwhile, the price of used housing rose by 2.9% in the second quarter compared with 2022, one tenth of a percentage point lower than in the first quarter and the lowest rate since the second quarter of 2021.

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