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House Prices increased 6.6%
House Price Index
House Prices increased 6.6% - 2nd Quarter 2021
22 September 2021


In the 2nd quarter of 2021, the House Price Index (HPI) grew by 6.6% when compared to the same period of 2020, 1.4 percentage points (pp) more than in the previous quarter. In this period, prices of new dwellings increased at a faster rate than those of existing dwellings, 6.9% and 6.5%, respectively.
On a quarter-to-quarter basis, the HPI increased by 2.2% (1.6% in the previous quarter). By category, the price increase was more intense for new dwellings compared to existing dwellings, 3.5% and 1.8%, respectively. 
Between April and June 2021, 52,855 houses were traded, 58.3% more than in the same period of the previous year. This significant increase is mainly associated to a base effect as the year-on-year comparison is made with the months April to June 2020, a period characterised by significant restrictions on economic activity due to the measures imposed to contain the COVID-19 pandemic, which determined the lowest number (and value) of transactions since the 3rd quarter of 2016. By months, the increase in the number of transactions stood at 75.1% in April, falling to just over 50% in the following two months. In value terms, in the reference quarter, transacted dwellings accounted for approximately 8.6 billion euros, representing a 66.5% year-on-year increase. April, with a year-on-year rate of 72.4%, was the month that registered the most significant growth, followed by June and May with rates of change of 64.3% and 63.9%, respectively.

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