6 June 2025

Housing Price Index (HPI). Base 2015

First Quarter 2025

Main results

The annual variation rate of the Housing Price Index stood at 12.2%.
The annual variation rate of new houses was 12.2%, while the rate for used houses was 12.3%.
Housing prices rose by 3.5% compared with the previous quarter.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed quarterly results
Annual averages

In the first quarter of 2025, the annual change in the Housing Price Index (HPI) rose by two points to 12.2%.

By type of housing, the annual rate for new housing decreased by 0.1 points to 12.2%.

Meanwhile, the change in second-hand housing was 12.3%, an increase of 1.2 points above that recorded in the previous quarter.

Annual rates of HPI

Total, new and used housing. Percentage

Quaterly evolution of housing prices

The quarterly variation of the general HPI in the first quarter was 3.5%.

Quaterly rate of the HPI

Total housing. Percentage

By type of housing, new housing prices increased by 5.5% in the first quarter of 2025 with respect to the previous quarter. Meanwhile, second-hand housing prices rose by 3.2%.

Quaterly HPI rate by type of housing

New and used housing. Percentage

Results by Autonomous Communities. Annual variation rates

Housing prices showed positive annual rates in all the autonomous cities and communities in the first quarter.

The largest price increases occurred in Andalusia and the autonomous city of Melilla (both with 14.0%) and in the Region of Murcia (13.3%). And the lowest were in Illes Balears (10.0%), Cantabria (10.2%) and Castilla-La Mancha (10.4%).

Annual RHPI rates by Autonomous Cities and Communities. First quarter of 2025

Percentage

{
  "mode": "chart",
  "type": "barrashorizontalesprensa",
  "width": "170mm",
  "height": "130mm",
  "legend": false,
  "valueAxis": false,
  "tags": true,
  "series": [
    { "label": "Tasa anual (%)" }
  ],
  "ticks": [
    "Balears, Illes",
    "Cantabria",
    "Castilla-La Mancha",
    "Extremadura",
    "Galicia",
    "Navarra, Comunidad Foral de",
    "Madrid, Comunidad de",
    "Cataluña",
    "NACIONAL",
    "Comunitat Valenciana",
    "País Vasco",
    "Castilla y León",
    "Canarias",
    "Ceuta",
    "Asturias, Principado de",
    "Rioja, La",
    "Aragón",
    "Murcia, Región de",
    "Melilla",
    "Andalucía"
  ],
  "values": [
    [
      "10.0",
      "10.2",
      "10.4",
      "10.9",
      "11.2",
      "11.4",
      "11.6",
      "11.7",
      "12.2",
      "12.3",
      "12.4",
      "12.4",
      "12.4",
      "13.1",
      "13.1",
      "13.2",
      "13.2",
      "13.3",
      "14.0",
      "14.0"
    ]
  ],
  "ratioMargen": 0.3,
  "angleTick": "0",
  "angleTag": "0",
  "fillToZero": true,
  "colors": [
    "#457E76",
    "#A45C0A",
    "#0071AD",
    "#756F0F",
    "#C33C9D",
    "#677746"
  ],
  "config": {
    "marcaTick": {
      "color": "#9e1834",
      "value": "NACIONAL"
    }
  }
}

Revision and updating of data

The data published today are final. All results of this operation are available on INEBase.

Methodological note

The main objective of the Housing Price Index (HPI) is to measure the evolution of the sales price of private dwellings acquired by households in Spain, both new and second-hand dwellings, adjusting for changes in the composition and quality of the dwellings acquired in different periods by means of a method that combines stratification with a regression model.

Type of survey:: continuous quarterly survey.
Base period:: 2015.
Reference period for the weightings:: two years prior to the current year.
Geographical scope:: the entire national territory.
Number of observations:: around 95% of housing sales made in the quarter.
Functional classification:: new and used housing.
General calculation method:: Laspeyres’ Chain Index.
Collection method:: administrative records.

More information on the methodology and the standardised methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information on Quality at INE and Code of Best Practices.

For further information see

Official INE account on @es_ine

All press releases at:: www.ine.es/en/prensa/prensa_en.htm
Press office:: (+34) 91 583 93 63 / 94 08 – gprensa@ine.es
Information area:: (+34) 91 583 91 00 – www.ine.es/infoine/?L=1