Spanish House Pricing Index (HPI) at lowest point since 2007

Posted on September 19, 2012 · Posted in Chris Mansfield - Blog

A recent press release shows that the HPI has reached a low point even further south than 2007.

The interannual rate of the Housing Price Index (HPI) in the second quarter of 2012 decreased almost one-and-a-half points, standing at –14.4%, the lowest since the beginning of the series, in 2007.

By type of housing, the annual variation of new housing stood at –12.8%, one point lower than the previous quarter.

In turn, the annual rate for second-hand housing decreased more than two points, and went from –13.3% in the first quarter of 2012 to –15.7% in the second quarter. In both type of housing, were the lowest annual rate registered since the beginning of the series. More reading at www.http://www.ine.es

Spanish property falls according to annual evolution of the HPI

The quarterly housing price performance was also down.

The general HPI variation in the second quarter as compared with the first quarter of 2012
(quarterly variation) was –3.3%, more than one-and-a-half points higher than previous
quarter. Nevertheless, this variation registered negative values since third quarter of 2010.

Whilst it would appear that recovery isn’t on the horizon for Spanish properties anytime soon, it is arguable that for those looking to make a long term purchase that now would indeed be a good time to strike (given that it was an affordable investment).

If you are wondering whether or not purchasing a property in Spain could work for you and would like some friendly, expert advice than why not take advantage of our free consultation service by >>clicking here<<.

Quote and graphs taken from the second quarter House Pricing Index press release published on 14th September 2012 from Instituto Nacional de Estadistica.