In the 1st quarter of 2024, the House Price Index (HPI) rose by 7.0% year-on-year, 0.8 percentage points (pp) lower than in the previous quarter. During this period, the prices of existing dwellings increased at a faster pace than new dwellings, 7.6% and 5.5% respectively.

Compared to the previous quarter, the HPI increased by 0.6% (1.3% in the previous quarter). By category, prices of existing dwellings grew 1.1%, while new dwellings registered a rate of change of -0.8%.

Between January and March 2024, 33,077 dwellings were sold, which represents reductions of 4.1% compared to one year before and 3.1% compared to the previous quarter. The value of housing transactions in the 1st quarter of 2024 totalled 6.7 billion euros, 1.8% less than in the same period in 2023.

In the reference quarter, 28,283 units were purchased by buyers belonging to the institutional sector of Households (85.5% of the total), totalling 5.7 billion euros (84.2% of the total). In the first three months of 2024, buyers with a tax residence outside the National Territory represented 6.2% of the total number of transactions (2,067 dwellings), corresponding to 10.4 % of the total value transacted.