Average housing prices in Spain increased by 4.5% in the third quarter.

Housing prices continue to rise. In the third quarter of 2023, housing prices increased by 2.5% compared to the previous quarter. According to the National Statistics Institute (INE), the average cost of new and used housing in Spain rose by 4.5% in the third quarter compared to the same period in 2022.

The cost of new apartments and houses has increased by 3.3 percentage points compared to the previous quarter, reaching an annual rate of 11% from July to September. This is the highest annual rate in the last 16 years, since the third quarter of 2007. As for the prices of used housing, the increase was 3.2% during the analyzed period (the growth has been ongoing since 2014), which is three-tenths of a percentage point higher than in the previous quarter.

Compared to the previous quarter, from July to September, housing prices increased on average by 2.5%, with new property prices rising by 4.1% and used property prices by 2.2%.