Spain - House Price Index for New Homes

Spain: House Price Index for New Homes

Mnemonic HPIN.IESP
Unit Index 2015=100, NSA
Adjustments Not Seasonally Adjusted
Quarterly 1.15 %
Data 2018 Q4 123.04
2018 Q3 121.64

Series Information

Source National Institute of Statistics (INE)
Release House Prices
Frequency Quarterly
Start Date 3/31/2007
End Date 12/31/2018

Spain: Real Estate

Reference Last Previous Units Frequency
Building Completions Jan 2019 3,312 3,417 # Monthly
House Price Index 2018 Q4 120.95 120.49 Index 2015=100, NSA Quarterly
House Price Index for Existing Homes 2018 Q4 120.66 120.32 Index 2015=100, NSA Quarterly
House Price Index for New Homes 2018 Q4 123.04 121.64 Index 2015=100, NSA Quarterly
House Price Value for Existing Homes 2018 Q4 1,618 1,589 EUR, NSA Quarterly
Building Permits Oct 2018 2,373 1,716 # Monthly
Non-residential Building Permits Oct 2018 524 412 # Monthly
Residential Building Permits Oct 2018 1,849 1,304 # Monthly
Dwelling Stocks 2017 25,645,100 25,586,279 # Annual

Release Information

The housing price index (HPI) primary objective is to measure the merchanting prices of free pirce housing evolution over time for both new and second-hand. Thus, this is an indicator strictly for comparisons over time. The HPI is able to serve as a comparative element between EU members. In order to calculate the HPI, protected housing is excluded due to inaccessibility to all buyers, and it not being governed by the usual market forces. The use of official records makes it possible to have available information for the whole of the population.

The General Council of Notaries, of the Notarial Certification Agency, provides the data used to calculate the indices. The INE receives information each month on transfers of real estate assets within Spain approximately six weeks after the end of the data reference period, as well as revisions to previous data. The HPI is a short-term indicator produced using the latest data available to the INE, which represents, on average, over 90% of the total transfers made in the quarter. 

Data is subject to regular reivisions. Annually, the model will be subject to review, incorporating the latest available information into the variables created and adding possible new variables from notaries' databases. 

For more information, please consult the methodology provided by the INE