The latest data from the Housing Price Index (HPI) for the third quarter of 2023 reveals positive trends in the Spanish real estate market. The annual variation rate of the HPI has risen by almost one percentage point, reaching 4.5%. Additionally, housing prices experienced a 2.5% increase compared to the previous quarter.
Breaking down the data by housing type, new housing saw a quarterly variation of 4.1% and an impressive annual variation of 11.0%. Meanwhile, second-hand housing experienced a more modest quarterly variation of 2.2% and an annual variation of 3.2%.
The general index, which reflects overall housing market performance, displayed a steady increase over the past few quarters, indicating resilience and positive momentum in the real estate sector.
This growth in housing prices is attributed to various factors, including sustained demand, economic stability, and the overall attractiveness of the Spanish property market. The data suggests a positive outlook for the real estate industry, contributing to the economic landscape in Spain.