The European Commission statistical office, Eurostat, reported that according to their latest data, the price of housing in Spain registered a year-on-year increase of 6.3% in the first quarter of the year, which represents its greatest increase since the third quarter of 2007, before the bursting of the Spanish housing bubble as a result of the crisis.
In the fourth quarter of 2015, Spain’s house prices increased by 4.3%, year-on-year, which is two-tenths lower than the year-on-year increase registered in the previous quarter of last year, of 4.5%.
Thus, with the latest data, the Spanish real estate market has accumulated eight consecutive quarters of year-on-year increases in the price of housing, following six consecutive years of market declines.
Quarter-on-quarter, the price of housing in Spain rose by 1.4% in the first quarter, after having remained stable in the last quarter of 2015, and represents the largest quarterly increase in housing prices since the second quarter of last year, when they increased by 4.1%.
In the whole of the EU, house prices increased by 4% year-on-year in the first quarter of the year, compared with the 3.6% increase registered in the fourth quarter of last year, while quarter-on-quarter house prices rose by 0.7%, three tenths more than in the previous quarter.
