The Spanish National Statistics Institute (INE) reports that housing prices began to show signs of moderating in the first quarter of the year, when growth of 3.2 percent growth was recorded year-on-year. But that data does not fully reflect the real impact of the coronavirus on the Spanish residential market since they began to be felt only in the second half of March.
New home prices shot up 5.1 percent between the end of the fourth quarter of 2019 and Q1 2019, marking its biggest rise since 2007. For its part, second-hand housing prices increased by 0.4 percent, compared to the 0.7 percent quarterly decrease registered in the last three months of 2019.
