Housing prices soared 12.7% in the second quarter, their biggest increase in 18 years.

The price of unlisted housing soared 12.7% in the second quarter of the year compared to the same period in 2024, registering its largest year-on-year increase since the beginning of the historical series, in the first quarter of 2007, when it rose 13.1%.

This is evident from the Housing Price Index (HPI) published today by the National Statistics Institute (INE), which highlights that, with the second-quarter increase—half a point higher than that experienced in the first three months of the year —the price of free housing has accumulated 45 consecutive quarters of year-on-year increases.

By type of home, new home prices rose 12.1% year-on-year in the second quarter, a tenth of a percentage point less than the previous quarter, while existing home prices soared 12.8%, a rate half a point higher than the previous quarter and the highest in 18 years, specifically since the first quarter of 2007.

Real estate prices rose in all regions in the second quarter, and in all of them, at double-digit rates.

The largest price increases were seen in Murcia, with a 14.6% increase; Aragon and La Rioja (13.7%); Castile and León and Andalusia (13.6%), and Asturias, which saw prices rise by 13.5% compared to the second quarter of last year.

Meanwhile, the most moderate increases in the price of non-residential housing occurred in Cantabria (10.8%), Castilla-La Mancha (11.3%), the Canary Islands and Catalonia (11.6%), and the Balearic Islands (11.7%).

On a quarterly basis, the price of uncovered housing increased by 4%, half a point higher than the previous quarter and the highest since the second quarter of 2015, when it rose by 4.2%.

Existing home prices also posted their largest quarterly increase in ten years, rising 4.2%, while new home prices rose 2.6%, up from 5.5% in the previous quarter.