The National Statistics Institute (INE) has just published its Housing Price Index (HPI) for the 4th quarter of 2020. According to its data, the price of housing in Spain slowed its rise to 2.1% in 2020, a year that was marked by the COVID-19 pandemic. Despite registering the lowest increase since 2014, this indicator has risen for seven consecutive years. In 2019 the rise was 5.1%.
The price of housing in Spain began last year with a rise of 3.2% in the first quarter. An upward trend that progressively decreased as the year and the pandemic progressed, reaching 2.1% in the second quarter, 1.7% in the third quarter and 1.5% in the fourth quarter of 2020.
Despite the moderation in house prices in 2020, coinciding with the advance of the coronavirus and its harmful effects on the Spanish economy, there have now been 27 quarters in which house prices have been rising following the price debacle caused by the bursting of the housing bubble.