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Spanish housing prices increase 1.8 pct in Q4

Xinhua, March 9, 2015 Adjust font size:

Spanish housing prices rose by 1.8 percent in the last quarter of 2014 in comparison with the same period a year earlier, according to data unveiled Monday by Spain's Statistical Office (INE).

The figure marked the first increase at the end of a year since the financial crisis started in 2008, when the housing bubble burst and prices started falling.

Prices fell by 1.5 percent in 2008 on a year-on-year basis and continued falling in 2009, 2010 and 2011, when they fell by 6.7 percent, 2 percent and 7.4 percent respectively. The biggest falls in prices were registered in 2012 and 2013, when housing prices fell by 13.7 percent and 10.6 percent, respectively.

The INE reported that prices of new houses increased by 1.9 percent in the fourth quarter of 2014 in comparison with a year earlier, while prices of previously-owned houses rose by 1.7 percent.

From the third quarter in 2014 to the fourth one, housing prices increased by 0.2 percent, with prices of new houses falling by 0.1 percent and prices of used houses increasing by 0.3 percent. Enditem