Spain Q1 house prices up 6.3 pct y/y, sharpest rise in over 8 yrs

 

Spanish house prices increased by 6.3% in Q1 of the year, the National Statistics Institute said on Thursday, the strongest gain since Q3 of 2007 shortly before a prolonged property crash.

Spain's housing market bubble burst at the beginning of 2008, putting millions out of work and sending the economy in to a five-year slump from which it emerged mid-2013.

New house prices rose 6.1% while used house prices were up 6.4%, INE said, also around 8-year highs.

Separately, house sales rose 29.0% in April from a year earlier, to around 35,199 homes, the sharpest increase since August 2010, INE said.

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