In 2017, the House Price Index (HPI) increased 9.2% when compared with the previous year. This rate of change exceeded in 2.1 percentage points (p.p.) the 2016 growth rate. The increase in prices was more evident for existing dwellings (10.4%) than for new dwellings (5.6%).
The HPI rose 10.5% in the fourth quarter of 2017, 0.1 p.p. more than in the previous quarter. Existing dwellings continued to exhibit throughout 2017 higher price increases as compared to new dwellings (11.8% and 5.9%, respectively). On a quarter-to-quarter basis, the HPI increased 1.2% (3.5% in the third quarter).
A total of 153,292 dwellings were transacted in 2017, a number that represents an increase of 20.6% when compared to the last year. In this period, the value of transactions totalled 19.3 billion euros, 30.6% more than in 2016.