The price of housing has risen 12.4% in the second quarter of the year in the Basque Country and 12% in Navarre

The price of housing has risen 12.4% year-on-year in the Basque Country in the second quarter of this year and in Navarre 12%, with the largest increase in the last 18 years, according to data released this Friday by the National Institute of Statistics (INE).

In the Basque Country, second-hand housing has increased by 12.6% between April and June and the new housing by 11.9%. Compared to the previous quarter, housing prices have risen by 3.5% in a context marked by housing shortages and rising demand. So far this year, housing in the Basque Country has increased by 8.6%.  

In the Foral Community, second-hand housing is the largest increase in prices (12.3 per cent) compared to new housing (11.5 per cent), with a 4.2 per cent increase over the previous quarter in Navarre.

Inthe Spanish State as a whole, the increase in the price of housing stands at 12.7% year-on-year. By type of housing, second-hand housing has increased by 12.8% and new housing by 12.1%. Compared to the previous quarter, from January to March, house prices have risen by 4%.  

The largest price increases were in Murcia(14.6 per cent), La Rioja(13.7 per cent) and Aragón(13.7 per cent), whilethelowest revaluations were in Cantabria (10.8 per cent) and Castilla-La Mancha(11.3 per cent).