Housing prices register a 1.8% annual increase in Catalonia in first quarter of 2015
The price of houses and apartments in Catalonia has now accumulated 4 consecutive quarters of annual increases, increasing by 1.8% between January and March 2015 compared to the same period in 2014, according to figures released on Tuesday by the Spanish Statistics Institute (INE). After 6 years of falling prices, housing prices have been on the rise since the first quarter of 2014, showing the sector's recovery from the financial crisis. However, despite the annual increases and overall positive figures, housing prices fell in quarterly terms, decreasing by 0.9% compared to the last quarter of 2014. As well as this, the number of housing units sold during last April in Catalonia grew by 13%. In Spain as a whole, housing prices increased by 1.5% in the first quarter of 2015 compared to the same period in 2014, with the number of housing sales in April growing by 9.4%.
Barcelona (ACN).- The price of houses and apartments in Catalonia has now accumulated 4 consecutive quarters of annual increases, increasing by 1.8% between January and March 2015 compared to the same period in 2014, according to figures released on Tuesday by the Spanish Statistics Institute (INE). After 6 years of falling prices, housing prices have been on the rise since the first quarter of 2014, showing the sector's recovery from the financial crisis. However, despite the annual increases and overall positive figures, housing prices fell in quarterly terms, decreasing by 0.9% compared to the last quarter of 2014. As well as this, the number of housing units sold during last April in Catalonia grew by 13%. In Spain as a whole, housing prices increased by 1.5% in the first quarter of 2015 compared to the same period in 2014, with the number of housing sales in April growing by 9.4%.
Housing prices in Catalonia increased for the 4th consecutive quarter in annual terms (by 1.8%). Regarding the type of housing, the average price of previously owned properties grew by 1.5% in annual terms but decreased by 1.2% compared to the last quarter of 2014. That of newly built houses and apartments grew by 5.2% in annual terms in the first quarter of 2015 and by 2% compared to three months previous. In the last quarter of 2014, the average price of newly built housing units in Catalonia increased by 2.4% in annual terms, while in the second quarter of 2014 it increased by 8.7% compared to the same period in 2013.
Besides this, the INE also released on Tuesday the number of housing sales operations that took place in Catalonia in April. A total of 4,219 housing properties were sold, 13% more than the 3,732 houses and apartments sold in April 2013. 84% of them (3,550 units) had been previously owned, while the remaining 16% (670 units) were new builds.
At Spanish level, 27,241 houses and flats were sold in April, a 9.4% increase on figures from the same month in 2014 (24,891). 22.9% of them were new properties and the remaining 77.1% had been previously owned.