Spanish house prices up for 1st time since crisis
Alex Dunham · 8 Sep 2014, 13:27
Published: 08 Sep 2014 13:27 GMT+02:00
- New mortgages shoot up 19 percent in June (27 Aug 14)
- Spanish house sales climb 8.8 percent (11 Aug 14)
According to Spain’s National Statistics Institute (INE), new properties saw an increase of 1.9 percent compared to the previous quarter, whilst used property prices rose by 0.2 percent.
INE posted the 0.8 percent rise of Spain’s House Price Index (IPV) on Monday, a figure the country’s press have noted is the first annual increase since Spain’s housing bubble burst at the start of 2008.
The first quarter of 2014 already reflected the positive change with a price drop of only 8% after the 12.6 percent in 2012 and 14.3 percent in 2013.
Madrid, with +2.7 percent, is the province with the highest annual increase followed by Valencia (2.3 percent), Andalusia, Balearics, Cantabria, Catalonia, Galicia, Murcia and Melilla.
Navarre with -6.1 percent and Extremadura (-3.5 percent) were the two Spanish regions with the biggest drop in prices.