The price of free housing increased by 7.8% year-on-year in the second quarter of the year, a rate 1.5 points higher than the previous quarter and the highest since the second quarter of 2022, when it increased by 8%, according to the Ministry of Housing Price Index (IPV) of the National Institute of Statistics (INE) published this Thursday and collected by Europa Press.
The price increase was driven by both new and used homes. Specifically, new home prices rose 11.2 percent year-on-year in the second quarter, a rate 1.1 percentage points higher than the previous quarter and the highest since the third quarter of 2007, when the housing crisis erupted in the United States.
For its part, the price of second-hand housing increased by 7.3% over one year in the second quarter, i.e. 1.6 points more than in the previous quarter and its largest increase since summer 2022.
On a quarterly basis (second quarter compared to the first quarter), the price of free housing increased by 3.6%, its largest quarterly increase since the second quarter of 2015.
Between April and June, the price of used housing increased by 3.7%, its highest quarterly increase also since the second quarter of 2015. New housing increased its price by 2.7%, attenuating the increase recorded by almost three points in the first quarter of the year.
