In the 1st quarter of 2026, the House Price Index (HPI) rose by 17.8% year-on-year, 1.1 percentage points lower than the previous quarter. The rise in prices was more pronounced for existing dwellings (19.7%) than for new dwellings (12.6%).
Compared to the previous quarter, the HPI grew 3.8% (change of 4.0% in the preceding quarter). By category, prices for existing dwellings rose by 4.2%, whilst new dwellings presented a rate of change of 2.7%.
Between January and March 2026, 37,745 dwellings were traded, representing a year-on-year decrease of 8.7% (compared with a 4.7% fall in the previous quarter) and a quarter-on-quarter decrease of 12.4%. In the reference quarter, the value of transactions totalled 9.9 billion euros, up by 3.2% compared with the similar period in 2025.
In the 1st quarter of 2026, 32,828 dwellings (87.0.% of the total) were sold to buyers belonging to the institutional sector of Households, for a total value of 8.6 billion euros (86.4% of the total). In the same quarter, dwelling purchases by buyers with a tax residence outside the National Territory stood at 1,770 units, which represents a year-on-year decrease of 15.6%.
