Post a Comment Print Share on Facebook
Featured Israel Estados Unidos Argentina Palestina Crímenes

The price of free housing rises 4% in 2023, almost half that in 2022, according to the INE

MADRID, 7 Mar.

- 4 reads.

The price of free housing rises 4% in 2023, almost half that in 2022, according to the INE

MADRID, 7 Mar. (EUROPA PRESS) -

The price of free housing rose an average of 4% in 2023, almost half of what it increased in 2022, and thus registered its tenth consecutive annual increase, according to the Housing Price Index (IPV) of the National Institute of Statistics ( INE) published this Thursday.

The increase in 2023 is almost half of that experienced in 2022, when housing prices increased at their highest rate in 15 years with an increase of 7.4%.

The price of new housing rose an average of 8% in 2023, its biggest increase since 2007, when it increased by 11.9%. With last year's increase, the price of new housing has accumulated ten years of increases.

For its part, the price of used housing increased by 3.2% in 2023, its smallest increase since 2020, when it grew by 1.4%. With this rebound, used housing also accumulates ten years of increases.

All autonomous communities increased housing prices in 2023. The largest average increases were recorded in Navarra (5.9%), the Canary Islands (5.3%), Cantabria (5.1%) and Andalusia (5%). Also notable, with increases of more than 5%, are the autonomous cities of Ceuta (5.5%) and Melilla (5.3%).

The most moderate advances occurred in Extremadura (1.5%), Castilla-La Mancha (1.7%), Murcia (2.3%) and La Rioja (2.8%).

THE PRICE MODERATES ITS GROWTH TO 4.2% IN THE LAST QUARTER OF THE YEAR

In the fourth quarter of 2023, the price of free housing rose 4.2% compared to the same period of the previous year, three tenths less than in the previous quarter. With this rebound, there are now 39 consecutive quarters of year-on-year increases.

By type of housing, the price of new housing rose 7.5% in the last quarter of last year compared to the fourth quarter of 2022, a rate 3.5 points lower than that of the previous quarter.

For its part, the price of used housing increased by 3.6% year-on-year, four tenths more than in the previous quarter and its largest increase since the fourth quarter of 2022.

HOUSING PRICE FALLS 1.1% QUARTERLY

In a quarterly rate (fourth quarter of 2023 over the third quarter of the same year), the price of free housing fell by 1.1%, thus registering its first negative rate since the fourth quarter of 2022 and its largest decline since the second quarter of 2020.

The price of new homes decreased by 1.4% in the last quarter of last year, while that of second-hand homes fell by 1% compared to the third quarter of 2023.

Keywords:
INE