Property

House prices increased 6.4% last year

Majorca Daily Bulletin reporterPalma08/03/2019 17:50

According to figures from the National Statistics Institute, the cost of housing in the Balearics fell by 0.1% between the third and fourth quarters of 2018 but was up 6.4% for the whole of 2018.

The average increase across Spain for the whole of 2018 was 6.6%. This was the highest for eleven years and up 0.4% over 2017, suggesting that prices are stabilising. A final quarter increase meant that there had been nineteen consecutive quarters of price rises.

Between the third and fourth quarters, there was a 1.2% rise in the price of new homes and a 0.3% increase for secondhand homes.

The highest annual rise was 9.6% in the Madrid region.