Housing prices rose 12.7% in the second quarter, its highest increase in more than 18 years.

Housing prices increased their rise to 12.7% year-on-year in the second quarter of this year, the largest increase in more than 18 years—since the first quarter of 2007—according to data released this Friday by the National Statistics Institute (INE).

By type of home, second-hand homes increased by 12.8% between April and June, while new homes increased by 12.1%.

Compared to the previous quarter, the first of 2025, house prices rose 4% in a context marked by a housing shortage and growing demand, which is pushing up prices, and by falling interest rates and cheaper mortgages, which are boosting sales.