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Spain house prices up 0.8% year-on-year

Source: Reuters - Mon 8th Sep 2014
Spain house prices up 0.8% year-on-year

House prices in Spain rose by 0.8% year-on-year in Q2 of 2014, compared with a 1.6% fall in Q1, the first annual rise in six years, data from the National Statistics Institute (INE) showed on Monday.

The indicator is the latest sign of the country's economic recovery.

House prices plummeted in Spain after the bursting of a decade-long property bubble.

House prices last rose year-on-year in the first quarter of 2008, according to the INE data.

The prices of newly built houses rose most, up 1.9%, while "second-hand" houses rose 0.2%, the highest increase since Q4 of 2007.

Earlier this month data from real estate website showed a monthly increase of 1.0%, the largest rise in 8 years.

Fotocasa, which is considered to offer more up-to-date information than INE, said house prices have fallen 43.9% since they hit a peak of 2.952 euros per square metre in April 2007.

Recommended Reading :

* Spain's land registry and cadastre to share information

* Spain's June house prices up 8.8% on June 2013

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