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House Prices Rose by 3.6% YoY in Q4 2019, the Lowest Figure since 2015

Proyecto vivienda Madrid Kronos Homes. Fuente Kronos
New build homes suffered from a slight price decrease in the last quarter of 2019 compared to Q3 2019

House prices increased by 3.6% YoY in the fourth quarter of 2019, their lowest inter-annual increase since the first quarter of 2015, according to the Housing Price Index (IPV) compiled by Spain’s National Institute of Statistics (INE) and published on Tuesday.

House prices have now recorded positive inter-annual rates for six consecutive quarters, but the slowdown in the increase reveals buyer fatigue, given the increase in the difficulties they are facing when it comes to affording to buy a home. This smaller increase has had a greater impact on the market for new homes, which has not yet finished recovering from the real estate crash of 2007.

 

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